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  • Roger Yao

Fitness Equipment Industry Weekly News – 2024 Week 6

fitness equipment brand

1. Fitness Holdings Expands in Tennessee with Acquisition of Two Crunch Fitness Locations

Fitness Holdings North America, a Crunch Franchisee, has successfully acquired two Crunch Fitness locations in Hixson and Hendersonville, Tennessee, solidifying its presence in the region. The acquisition, completed in January 2024, brings Fitness Holdings NA's total club count to 43, boasting over 190,000 members.

These newly acquired Crunch locations mark Fitness Holdings NA's initial entry into the Tennessee territory, complementing their existing gyms across New Jersey, New York, Pennsylvania, Connecticut, Vermont, and Massachusetts. As part of their growth strategy, the company plans to unveil a new 38,000-square-foot Crunch location in Hamilton County, Tennessee, scheduled to open later in 2024.

Expressing enthusiasm about the expansion, Mark Federico, CEO of Fitness Holdings North America, stated, "We are thrilled at the opportunity to purchase these two gyms and build upon the great brand presence that Crunch has established in the Nashville and Chattanooga areas. We look forward to expanding our footprint in the Tennessee market, working towards our growth goal of owning and operating 60 clubs by the year 2025."

2.Barry’s Expands Globally and Introduces Ride x Lift Class in LA

Barry’s, the renowned HIIT brand, is wasting no time in 2024, announcing the extension of its Ride x Lift class to its West Hollywood flagship location. The innovative class format, previously exclusive to Barry’s Chelsea in NYC, combines strength training with low-impact cardio on a spin bike. Following successful pop-ups in LA and New York in 2020, Ride x Lift is now a permanent offering in Los Angeles.

The 50-minute class, featuring over 15 bikes and floor setups, aims to welcome new members seeking a blend of low-impact cardio and strength training. Barry’s West Hollywood location includes upgraded amenities, a Fuel Bar, and retail options.

Joey Gonzalez, Barry’s Global CEO, expressed the brand's commitment to inclusivity, stating, "Our vision is to 'transform lives worldwide,' and we believe that broadening our offering to be more inclusive helps us achieve this objective on a larger scale."

The Ride x Lift classes kick off in early February, with prices starting at $34. Barry’s plans to explore additional locations for pop-ups in 2024, leveraging the flexibility of classes without treadmills.

Barry’s global expansion is also underway, with the announcement of a new studio in Barcelona, set to open in April 2024. This marks the first of a five-studio agreement for Iberia, with plans for potential locations in Madrid and Lisbon. The brand has recently expanded to Israel, Bahrain, and Egypt, with further developments in the Middle East, including the UAE, Qatar, Kuwait, and Lebanon.

Currently operating 84 studios across 14 countries, Barry’s has additional U.S. locations slated for later this year, including Scottsdale, Arizona, and Santa Monica, Newport Beach, and Studio City in the LA market. With a significant revenue increase in 2023, the brand is well-positioned for expansion, with CEO Joey Gonzalez envisioning reaching 200 U.S. locations in the next five years.

3. EGYM Iberia Hosts Inaugural International Innovation Congress in Valencia

EGYM Iberia is set to launch its first International Innovation Congress on February 15 in Valencia, aiming to serve as a pivotal gathering for the fitness sector. The event will feature presentations, round tables, and networking opportunities, fostering the exchange of knowledge on innovation in the sports industry.

The congress, taking place at the Valencia Chamber of Commerce business school, will showcase five presentations covering scientific, commercial, technological, and humanistic aspects of innovation. Additionally, two round tables will discuss digitalization from the supplier's viewpoint and the implementation of technology in major gym chains.

With approximately 150 attendees, the congress will provide a dynamic and interactive platform for participants to connect. EGYM Iberia aims to reaffirm its market leadership by offering learning opportunities and facilitating networking among brands and operators.

The event will also offer previews of upcoming innovations and technologies slated for presentation at the world fitness fair, FIBO. EGYM is gearing up for a significant launch to be unveiled at the IHRSA Annual International Convention & Trade Show 2024 and FIBO 2024.

Looking ahead, EGYM Iberia expressed optimism for 2024, anticipating it to be the brand's most successful year. The company plans to continue its commitment to the EGYM Campus training project, focusing on digital fitness training for trainers, with two annual calls scheduled after the FIBO fair in response to customer demand. Moreover, EGYM is planning another congress in June, tailored for physiotherapists, although details remain undisclosed.

4. Body Fit Training Set to Launch in Spain, Aims for Rapid Expansion

Xponential Fitness-owned Body Fit Training is gearing up for its Spain debut on February 28, opening a 300-meter center at 233 Valencia Street in Barcelona. As part of its ambitious plan, the functional strength training studio chain aims to establish six to eight centers in Spain by 2024, with a broader goal of opening up to 100 gyms in the country over the next five years to meet the rising demand for strength training.

The initial focus for expansion will be on Madrid and Barcelona, followed by future openings in Malaga, Valencia, Seville, and Mallorca, all through franchising. The company envisions reaching the 'break-even' point with 170 members per center, but aims for 300 to 400 subscribers, offering up to six daily classes with 36 participants each.

Subscriptions will range from 100 to 120 euros, providing unlimited access with no commitment to permanence. The target demographic is individuals aged 20 to 45, with 60% being women, and the brand's local supplier is Fitness Deluxe.

The average investment to launch a Body Fit Training center is between €200,000 and €250,000. Anticipated turnover is projected to reach €60,000 in the first year, increasing to €150,000 in the second year and €250,000 in the third year.

Body Fit Training's workouts, as described by the company, blend the benefits of strength training with efficient cardio, designed by elite athlete coaches. The functional, group-oriented, high-intensity workouts utilize heart rate technology to enhance performance, not just focusing on caloric expenditure.

Having recently partnered with Hyrox fitness races, Body Fit Training, under Xponential Fitness, extends its reach with over 300 open studios across more than eight countries globally, including its presence in Spain with Club Pilates.

5. Frasers Group, owner of Everlast Gyms, buys WIT Fitness out of administration. Plans to retain the name

Frasers Group, the owner of Everlast Gyms, has successfully acquired the assets of WIT Fitness from administrators RG Insolvency, adding a new brand to its growing fitness portfolio. WIT Fitness, known for its strong CrossFit connections, operates a boutique gym in London near St Paul's Cathedral, which will retain the WIT name.

While Frasers Group has not disclosed plans for additional WIT locations, the acquisition positions WIT's retail arm to complement Frasers' Sports Direct sportswear retailing business. The move sparks speculation about the potential integration of WIT Fitness as a premium offering, aligning with Frasers Group's elevation strategy, and possibly serving as a second brand alongside Everlast Gyms.

WIT Fitness appointed Matt Brewster as CEO in 2022, focusing on global expansion through a crowdfund in Q3 2022. Despite reporting impressive growth with 400,000 customers and significantly increased revenues, the company faced losses of nearly £4m in the 12 months to December 2022, as per the filed accounts.

The founder, Dan Williams, transitioned into a chief brand officer role, and WIT Fitness had previously received backing from VGC, with Maria Callaway as a director. However, WIT is no longer listed as part of VGC's portfolio.

Notably, Dan Williams played a key role in brokering a recent deal that saw London Boutique operator Digme acquire Orangetheory’s four existing sites in London, signaling further developments in the fitness industry.

6. Go Fit Expands into Italian Market in 2024 Following Strong 2023 Results

Iberian fitness operator Go Fit is set to enter the Italian market next year, as confirmed in the wake of robust year-end results for 2023. With 20 clubs, including two in Portugal and the rest across Spain, the company achieved pre-COVID levels early in 2023. Notably, a €22 million site in Tenerife is set to open in the first quarter of next year, and the Turin club marks Go Fit's foray into Italy.

The company's successful recovery from the pandemic is reflected in its 2023 results, featuring a 30% increase in EBITDA to €31 million and a 15% rise in sales to €77 million. These accomplishments were attributed to income growth and cost efficiencies. Go Fit's strategy and innovation director, Steve Ward, expressed confidence in the business model's resilience and readiness for new ventures.

Go Fit's impact on society is highlighted through its commitment to inspiring healthier lives and creating a more sustainable society. The company's selection by the United Nations Economic Commission for Europe as a best practice example for public-private partnerships (PPP) underscores its bid for long-term contracts to design, build, operate, and manage facilities on public land.

The fitness clubs offer evidence-based services covering exercise, nutrition, rest, and motivation at an affordable price, with facilities including gyms, pools, and classes. The company provides concessions for the economically disadvantaged, and members' children under 16 can visit clubs for free.

Go Fit's CEO, Mario Barbosa,is scheduled to speak at the European Health and Fitness Forum, sharing insights from his transition to the health and fitness sector after a distinguished career at McDonald's.

  • 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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