1. REP Fitness Expands into Japan with Key Partnership
REP Fitness, a frontrunner in the fitness equipment industry, has announced a strategic partnership with Uchinogym, a leading distributor in Japan. This collaboration marks a significant step in REP’s mission to increase global access to high-quality fitness equipment.
By joining forces with Uchinogym, REP Fitness aims to cater to the growing demand for premium fitness gear in Japan and reinforce its status as a worldwide industry leader. Ryan McGrotty, Co-founder and CEO of REP, expressed excitement over the partnership, highlighting the alignment with REP’s goal of enabling individuals to achieve their fitness ambitions with the best equipment possible.
The alliance ensures that commercial and home gyms in Japan have exclusive access to REP’s innovative and durable product range, including power racks, benches, barbells, and weight plates. This move not only enhances REP’s global footprint but also supports the vibrant fitness community in Japan.
Founded in Colorado in 2012, REP Fitness has emerged as a global powerhouse in strength equipment, driven by a passion for fitness and innovation. The company’s recognition in the Inc. 5000 list of fastest-growing companies and frequent features in top fitness publications underscore its commitment to excellence in the fitness equipment domain.
2．Freemotion and Orangetheory Unveil Revolutionary Reflex™ Treadmill
In a landmark 13-year partnership, Freemotion Fitness and Orangetheory Fitness have combined technological innovation and user feedback to develop the OTF Reflex™ treadmill. This state-of-the-art treadmill, a product of collaboration between Freemotion’s iFIT commercial equipment division (distributed by Fit4Life in Spain) and the boutique fitness chain, sets new benchmarks in design, impact absorption, and durability within the boutique fitness sector.
Boasting a 29% reduction in impact force as verified by a university study, the OTF Reflex™ treadmill is now the pinnacle of comfort and performance in the market. Already featured in Orangetheory Fitness centres in Madrid, including the newly opened Chamartín centre, and soon to be in Valencia’s upcoming franchise location, this treadmill is designed to meet the rigorous demands of Orangetheory’s high-intensity workouts, enduring over 12 hours of daily use.
The collaboration originated from Orangetheory’s need for a durable, high-performance treadmill that minimized joint impact, catering to all user types. Through five iterations, the treadmill has seen significant enhancements, including ergonomic adjustments and technological upgrades, like improved acceleration and deceleration controls, a speed increase up to 15 MPH, and the integration of a 22-inch screen for a connected workout experience.
The Reflex™ platform’s unique design significantly reduces impact and tibial shock, allowing for a smoother, more cushioned run that benefits the hips, knees, and ankles, thereby enhancing performance and reducing post-workout pain.
This collaborative journey between Freemotion and Orangetheory Fitness exemplifies the power of partnership in innovation, leading to a treadmill that not only meets but exceeds the expectations of fitness enthusiasts.
3．Planet Fitness Sets Sights on Spain Amidst Expanding European Presence
Planet Fitness is poised to make its entry into the Spanish market, challenging established players like Vivagym, Énergie, and Basic-Fit, following a year of strong financial performance.
Craig Benson, Interim CEO of Planet Fitness, highlighted the company’s successful year, with a 14.4% increase in total revenue, reaching US$1.1 billion. System-wide sales and adjusted EBITDA also saw significant growth. Despite the leadership transition from Chris Rondeau, the company anticipates a 10 to 11% growth in adjusted EBITDA for 2024, attributing the optimistic forecast to a new growth model designed to enhance franchisee returns and reduce capital expenditure.
The expansion strategy includes the opening of 165 new stores in 2023 and revising the total potential store count in the US from 4,000 to 5,000, based on recent studies. With 2,575 stores already operational in the US, Planet Fitness is gearing up for significant growth, both domestically and in new markets like Spain.
4．Freemotion Fitness and Aktiv Solutions Forge Strategic Distribution Partnership
Freemotion Fitness, a leading provider of commercial equipment under the iFIT brand, has teamed up with Aktiv Solutions, a specialist in movement-based training and gym design, to enhance their distribution capabilities and global reach.
This strategic partnership enables Freemotion to showcase Aktiv’s innovative equipment and design services across its extensive global network. Conversely, Aktiv will boost Freemotion’s equipment representation, furthering its accessibility to customers worldwide.
The collaboration was announced following Aktiv’s appointment of Mike Kelly as the new global vice president of sales, signaling the company’s ambition for expansion and innovation in key markets.
A highlight of this partnership will be the joint initiatives at industry events, kicking off with Aktiv introducing its Gym Rax Smith 3D Trainer at the Freemotion exhibit during the IHRSA 2024 event on March 7th and 8th.
This alliance aims to reshape the fitness equipment industry by providing comprehensive solutions and products that cater to the dynamic needs of fitness operators and enthusiasts alike.
5．BowFlex Faces Uncertainty Over Its Future Viability
BowFlex, a Vancouver-based fitness equipment manufacturer, has raised alarms over its ability to continue operations into the next year. In a recent third-quarter earnings report, the company, previously known as Nautilus, highlighted severe challenges including a tough retail landscape, worsening economic conditions, and falling customer interest. These factors have led to a stark revenue drop compared to the previous year.
The company expressed little optimism for a near-term recovery, acknowledging the negative impact on its liquidity projections. Efforts to sell the company or its assets, or to secure alternative financing, are underway. Without a timely resolution, BowFlex admits it may not meet its debt obligations and could consider voluntary bankruptcy.
This dire assessment stems from a substantial third-quarter net loss of $34.3 million, widening from a loss of $11.1 million in the same quarter the previous year. Year-to-date losses amount to $51.8 million, with third-quarter sales dropping to $67.6 million from $98.1 million year-over-year.
BowFlex, which experienced a surge in demand during the COVID-19 pandemic, has since struggled to maintain momentum, leading to layoffs and the divestiture of its original Nautilus brand. The company’s stock (BFX) has also suffered, closing at 20 cents per share recently, down significantly from earlier values.
The future of BowFlex hangs in the balance as it navigates these turbulent waters, marking a stark turnaround from its pandemic-era highs.
According to insider, some fitness equipment companies are approaching BowFlex for M&A.
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