2023-11-10
Fitness Equipment Industry Weekly News – W47
1． Life Fitness Announces Symbio™, a Premium Cardio Equipment Line
Life Fitness, a global leader in commercial fitness equipment, has just revealed Symbio™, an innovative cardio line that promises to reshape the fitness experience. Unveiled on November 13, 2023, Symbio™ stands out as a first-of-its-kind premium collection, merging cutting-edge biomechanics, purposeful design, and personalized multi-sensory experiences.
This four-machine collection includes a treadmill, cross-trainer, upright bike, and recumbent bike, each meticulously crafted by Life Fitness' biomechanical engineering team to offer a fresh perspective in their respective categories. Symbio™ builds on the brand's legacy of understanding the intricacies of the human body and creating equipment that feels natural for users of all fitness levels.
What sets Symbio™ apart is its integration of advanced technologies that prioritize personal comfort, enhance workout performance, and introduce versatility to exercise routines. The machines are also equipped with engaging content and analytics, providing users with a rich, immersive fitness experience.
2． Xponential Fitness Explores Acquisition of Eleventh Brand to Fuel Growth
Xponential Fitness, the world's largest franchisor of boutique fitness brands, is actively in talks to acquire its eleventh brand. Founder and CEO Anthony Geisler revealed the company's eagerness to expand, emphasizing discussions with potential acquisition targets in the fitness and wellness space. Geisler mentioned ongoing conversations with multiple companies across various modalities to determine the best fit for Xponential's portfolio.
While no imminent decisions have been made, Geisler highlighted the renewed interest from Wall Street in deals, aligning with Xponential's readiness for expansion. Geisler acknowledged the responsibility of being a public company and emphasized the need to listen to investors. The company's last acquisition was BFT in October 2021 for $44 million.
Geisler noted a shift in investor sentiment in the last four to six weeks, with growing inquiries about the eleventh brand. He explained that Xponential's current success, with ten established brands, has created a demand that necessitates further expansion. Despite selling 1,000 franchise units in 2022, the company is on track to sell 600 to 800 in 2023 due to limited available ground for opening new studios among its existing brands.
Geisler stressed the importance of acquiring an eleventh brand to meet growing demand, citing the need to recover supply. He hinted at a potential focus on wellness and recovery as a popular sector for expansion, aligning with the evolving trends in the fitness industry. Geisler expressed confidence in the opportunities within wellness and recovery, positioning it as a sector worth exploring for Xponential Fitness.
3． Everlast Gyms Launches Flagship Location in Gateshead and Sets the Stage for Global Expansion
Everlast Gyms has inaugurated a new flagship property at the Metro Centre in Gateshead, UK, signaling a strategic move towards globalizing the brand. The 37,000 sq ft health club, situated in a former Debenhams department store, serves a dual purpose as a full-service health club with a membership capacity of up to 12,000 and a "showroom" for Everlast's suite of fitness concepts.
In an interview recently, Everlast Managing Director Dan Summerson revealed the company's plan for global expansion using the op co/prop co model, similar to how hotels operate. Leveraging the support of retail giant Frasers Group, Everlast Gyms aims to expand globally through joint venture partnerships rather than building and operating overseas independently.
The Gateshead location showcases an open-plan gym, featuring weights, resistance and cardio areas, functional training offerings, a boxing ring, group cycling, Olympic platforms, and various studio and wellness amenities such as ice baths, a coffee and shake bar, and a barber. The facility also integrates Myzone technology, and an escalator connects the gym with the large Sports Direct section downstairs.
Summerson highlighted the uniqueness of the Gateshead club, emphasizing its ability to house diverse fitness elements under one roof. Everlast Gyms has developed three different models in their joint venture "menu," ranging from 15,000 sq ft to 25,000 sq ft, each with distinct cost bases and expected EBITDAs.
With plans to utilize the Gateshead location as a showcase for potential joint venture partners, Everlast Gyms is poised for global expansion, providing various options and models tailored to different markets and preferences.
4．Echelon Fitness and Run Disney Forge Partnership to Energize Fitness Journeys for 170,000 Runners
Echelon Fitness has entered into a multi-year partnership with Run Disney, the road race division of Disney Sports Enterprises. Run Disney is a prominent race organization in the US, attracting over 170,000 runners for in-person and virtual events each season.
Under this collaboration, Echelon will supply its connected fitness equipment at Run Disney races held at Walt Disney World Resort in Florida and Disneyland Resort in California. The partnership will also include Echelon's presence at Run Disney yoga events and interactive demonstrations at race expos.
With four race weekends at Walt Disney World Resort and two at Disneyland Resort, including various race categories, challenges, and health expos, the collaboration aims to enhance the fitness experience for both Echelon members and Run Disney participants.
Echelon Fitness CEO, Lou Lentine, expressed enthusiasm about supporting members and Run Disney runners on their fitness journeys, providing opportunities for pre-training, post-workouts, and virtual races from the comfort of home.
5. Madrid Welcomes Inaugural Exercise for Health Summit
The inaugural Exercise for Health Summit is set to take place in Madrid from November 20 to 22 at Hotel Meliá Castilla. Led by EuropeActive and organized by THiNK Active in collaboration with the España Activa Foundation, the summit aims to bring attention to the significance of establishing a health prevention system through physical activity. The event provides a unique platform for the sports industry to explore interactions and collaborations between the physical activity and health sectors, fostering new business opportunities and emphasizing the need for proactive and responsible fitness industry involvement. The two-day summit will feature presentations, round tables, and case studies led by industry leaders, academics, scientists, and public health policymakers, offering insights into the present and future of the sector. Simultaneous translation into Spanish will be provided for the main presentations, and members of the España Activa Foundation can benefit from a special discount.
6． Life Time Enters Medical Wellness Market with Miora Brand
Life Time is venturing into the medical wellness market with the introduction of its new brand, Miora, focusing on longevity and performance.
The pilot program is currently in a soft launch at the Target Centre health club in Minneapolis, with an official opening scheduled for November 27. Miora consolidates a variety of wellness services offered by Life Time, including rehabilitation/chiropractic, weight loss, nutrition services, and lab testing, under a unified brand.
The new brand enhances these services with elevated diagnostics and a holistic approach to prevention. Services provided by Miora include red light therapy, hyperbaric chambers, cryotherapy, infrared saunas, as well as treatments such as peptide and hormone replacement therapy and IV therapies.
The Miora customer journey begins with comprehensive diagnostics, analyzing 95 indicators through a blood panel, followed by a proprietary cloud-based precision health assessment protocol known as the Metabolic Code.
Developed in partnership with Dr. Jim LaValle, a clinical pharmacist and certified clinical nutritionist, this system assesses individuals' health status, provides insights into future health conditions, and recommends appropriate interventions. If the pilot proves successful, Life Time plans to expand the Miora brand across suitable locations within its network of 170 high-end health clubs across the US.
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Author: Roger Yao (cs01@fitqs.com)
The founder of FITQS/FQC
The columnist of magzine <China Fitness Equipment>
20 years in fitness/sporting equipment OEM/ODM technical, quality control and sourcing management.
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