Fitness Equipment Industry News - W32

2023-8-5

1. American brand, Xponential, announced revenue increased by 30% to US$77.3 million

Aug 03, 2023, Xponential, an American group class fitness brand, announced its financial report for the second quarter of 2023. Data show that during this period, revenue increased by 30% to US$77.3 million, and North American system-wide sales increased by 37% year-on-year to US$341.3 billion. Xponential is a fitness franchise brand with multiple group class sub-brands and the largest boutique fitness franchisee in the United States. In the second quarter of this year, the company has sold 234 franchise licenses and opened 144 new studios . It is worth noting that 4 of its brands, Club Pilates, Pure Barre, StretchLab, Yoga Six, were recently named top franchises by the US magazine Entrepreneur.

2. US company, FITBENCH released a new generation of FITBENCH ONE

Recently, the fitness equipment brand FITBENCH released a new generation of FITBENCH ONE, a multifunctional fitness workbench suitable for fitness clubs, personal training studios and vertical markets. All new products will be manufactured at the company's headquarters in Exonia, Wisconsin, USA. Compared with the previous product, the new generation FITBENCH ONE has a more durable and soft contoured top, and is equipped with a new polyester hexagonal dumbbell, while the dumbbell is printed with the brand logo, pounds and kilograms, and the maximum weight is 30 lb (14 kg). It is reported that the full set of products of this workbench will be sold at authorized FITBENCH brand dealers at a price of $2,999.

3. China brand, KEEP launches new band B4 Lite with USD 26

Recently, B4 Lite, the fifth brand new product of the Keep smart sports band family, was officially launched, and the current price is 189 yuan. The launch of this new product aims to help users from the initial "want to move", to "get moving", and then to "reap results", providing users with a convenient one-stop exercise solution. It is reported that this product is not only suitable for more than 40 sports modes such as running, aerobics, and spinning, but also linked with more than 16,000 professional sports courses. In addition, it is equipped with a variety of health detection functions, 2-channel heart rate sensor and dual blood oxygen lamp group detection. In terms of personalization, it is equipped with more than 100 youthful dials, with a 1.47'' full-color screen, and can support functions such as Alipay offline payment at the same time.

4. Technogym's revenue in the first half of 2023 reaches 370 million euros, a year-on-year increase of 13.8%

Recently, the Italian fitness equipment brand Technogym announced its financial report for the first half of 2023. According to data, during this period, it earned 370 million euros (about 405 million U.S. dollars) in revenue, an increase compared with the first half of 2022. 13.8%. It is reported that Technogym launched the App Technogym Run in the first half of this year, incorporating an artificial intelligence model that can adapt to the needs of more than 50 million users. In this regard, Technogym founder and CEO Netrio Alessandri said that the company's strategy of investing in long-term profitability (ie fitness equipment) and sustainable growth (ie App) has achieved excellent short-term results. In the future, Technogym will use its health ecosystem to customize personalized training programs and training programs to prevent diseases and promote a healthy lifestyle for more people.

5. Garmin fitness segment sales to grow 31% in second quarter of 2023

Recently, the American electronic product brand Garmin announced its sales report for the second quarter of 2023. Among them, sales in the fitness field increased by 31%, while sales in other fields declined. Among them, the gross profit margin and operating profit margin were 52% and 16%, respectively, and the total operating income was 54 million US dollars (23.5 million US dollars last year). Not long ago, Garmin established an innovative analysis laboratory in Jyväskylä, Finland, which combines advanced research and testing equipment, and is equipped with customized fitness equipment, instrumentation systems and proprietary detection technologies. These technologies will be used for Garmin smart sports watches, cycling equipment and health monitoring products add more innovative features, such as body power, endurance score, maximum oxygen uptake and so on.