Weely Fitness Industry News – Week 11 of 2024

[ The 8th in 2024 (Total of 29 ) ]
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1. EGYM Hires Steve Barton as Managing Director UK

Egym CEO Philipp Roesch-Schlanderer has announced the signing of Steve Barton as the company’s new UK Managing Director. Barton has an extensive resume in renowned supplier brands in the fitness universe.

Steve Barton has just been appointed Managing Director of EGYM in the UK. The news was announced via social media by EGYM CEO Philipp Roesch-Schlanderer. According to the CEO of the German company specializing in strength training equipment with a large compendium of digital technologies, “Barton will further strengthen our presence in the UK following our recent partnership with Rob Barker.”

Steve Barton is a seasoned fitness industry leader with an extensive track record of growing fitness businesses built around innovative equipment and digital solutions.

He spent 19 years at Technogym in the UK, including six years as managing director. Prior to Technogym, he led the sales teams at Precor and Star Trac.

2. Myzone Unveils MZ-Open for Smart Watches

In a strategic move to democratize fitness technology, Myzone announces the launch of MZ-Open, effectively eliminating the need for separate hardware by integrating its services with smart watches. This innovation allows users of both Android and Apple Watch to seamlessly record their workouts directly on their wrist devices, propelling Myzone into the lucrative smart watch market.

Dave Wright, the founder of Myzone, remarked that the development of MZ-Open was a direct response to consumer demand and represents a landmark in the company’s evolution, years in the making. Global CEO David Stalker emphasized the significance of this advancement in lowering entry barriers, facilitating a larger audience to join the Myzone community. He highlighted that Myzone’s engagement has been linked to a notable increase in gym membership retention by 24%, benefiting operators financially and fostering long-term health habits among individuals.

The global smart watch market, as reported by Statista, is on a trajectory to exceed a valuation of US$62 billion by 2028. Myzone’s integration with smart watches simplifies the user experience by providing an easy pairing process and access to its comprehensive ecosystem. This ecosystem offers precise heart rate training, fitness assessments, instantaneous feedback, and a connection to a worldwide community. Additionally, users can effortlessly participate in live gym leaderboards and accumulate Myzone Effort Points (MEPs) through a QR code scan with their smartphones.

Leon Rudge, Myzone’s Chief Technical Officer, shared insights into the company’s product development strategy, which prioritizes market demands. Feedback from gym operators revealed that while Myzone’s engagement rates are high, the initial requirement for a separate wearable was a significant barrier. Addressing this, Myzone’s initiative to incorporate its functionality into smart watches was born.

Myzone’s technology is embraced by over 9000 facilities in 84 countries, illustrating its widespread acceptance and the positive impact of its offerings in the global fitness community.

3. Egym Revolutionizes Fitness with Open Mode for Smart Strength Machines

Egym has unveiled a groundbreaking feature for its Smart Strength machines called Open Mode, transforming them from circuit-specific equipment to versatile tools that can replace traditional weights on the gym floor. This innovation provides gym-goers with unrestricted access to smart functionalities such as automated adjustments, diverse training methodologies, and intelligent weight profiling.

With Open Mode activated, individuals can engage with Egym Smart Strength equipment casually as guests, eliminating the need for account setup. This mode caters to a broad range of fitness levels. Novices benefit from guided workouts, courtesy of the Egym Curve and bespoke training programs, while more seasoned users can customize their sessions to match their specific fitness objectives.

Users have the flexibility to modify repetitions, weight settings, and select their preferred training methods. Additionally, the system intuitively records workout routines like pyramid training or drop sets. A novel motivational tool, the Egym Bar, has been introduced to encourage users throughout their exercise sessions. Moreover, participants have the opportunity to access detailed workout analytics through various platforms, including the Egym Fitness Hub, trainer applications, or a branded member app.

Tanya Hall from Egym articulates the essence of this innovation, stating, “Our Open Mode facilitates a new level of personalization across the fitness floor, making it a game-changer for both beginners and advanced exercisers alike.”

4. Aescape Introduces Revolutionary Automated Massage Technology in NYC

Aescape has introduced an innovative leap in wellness technology with its fully automated, AI-driven massage tables, marking a significant advancement in the massage industry. This cutting-edge product, which utilizes robotic arms for a personalized massage experience, has debuted in select Equinox locations across New York City, integrating luxury with technology for premium recovery tools.

Founded by Eric Litman, Aescape has secured $80 million in funding to redefine massage therapy with a focus on accessibility and convenience. The company’s technology is designed to adapt to various body types and preferences, offering a custom massage experience that’s available even when traditional therapists are not.

The Aescape massage table employs artificial intelligence to conduct a detailed 3D scan of the user’s body, identifying over one million data points for a precise and tailored massage session. Users can interact with a touchscreen to select specific areas for massage, adjust pressure, and even choose their preferred background music, creating a highly personalized relaxation experience.

Equinox, a leader in luxury fitness and wellness, has embraced Aescape’s technology, offering 30-minute sessions to both members and non-members, with the latter also receiving a complimentary day pass to the gym. This partnership highlights a mutual commitment to enhancing wellness and recovery, making advanced recovery tools more accessible to a wider audience.

Aescape’s team, including professionals with backgrounds in major tech and marketing firms, has collaborated closely with thousands of individuals to ensure their product meets a wide range of needs, from casual gym-goers to professional athletes. As the massage therapy market continues to grow, Aescape’s innovative solution addresses the current therapist shortage while promising a consistent, high-quality massage experience.

The company is also launching an early access program in New York, seeking feedback to refine their service further and exploring new partnerships to expand their reach. With its potential to transform the recovery process, Aescape’s automated massage table is poised to become a valuable asset in spas, hotels, and wellness centers worldwide.

5. Cristiano Ronaldo Enters the Wellness Arena with Erakulis App

Cristiano Ronaldo is set to make waves in the wellness industry with the launch of his all-encompassing wellness app, Erakulis, inspired by his own fitness, nutrition, and mental health regimen. Scheduled for release on April 3, with subscriptions starting at 4.99€ per month, Erakulis aims to provide a holistic approach to wellness, incorporating personalized plans, community support, and expert consultations via video calls.

Ronaldo emphasizes the critical role of discipline, focus, and balance in his career success, elements that are deeply integrated into the Erakulis platform. The app promises to bring professional athlete-level training and wellness insights to users, positioning itself as a strong competitor to other celebrity-founded apps like Centr by Chris Hemsworth.

Erakulis has already opened a waitlist, offering a limited-time 50% subscription discount for early adopters. This move by Ronaldo highlights a growing trend among athletes and celebrities leveraging their fame to venture into the fitness and wellness app market, a shift from traditional endorsements towards digital health platforms.

Notable figures like former NFL player Brandon Marshall with HOA+, Olympian Jessica Ennis-Hill with Jennis, Arnold Schwarzenegger with The Pump, and singer Carrie Underwood with Fit52, have also made significant contributions to this burgeoning space. Each brings a unique focus, from mental and physical fitness to specialized training for women’s health, showcasing the diverse potential of celebrity-driven wellness initiatives.

6. Keep Scales Back Keepland Amid Financial Struggles

Keep, a Chinese prominent sports technology company, is retracting its physical fitness venture, Keepland, by halting expansion plans and initiating layoffs within its operational team. This decision has led to the closure of expansion efforts in Guangzhou and the announcement that Keepland’s Beijing location will not renew its lease upon expiration, signaling a phased shutdown of its self-operated stores. Additionally, plans for future collaborations with external course providers remain uncertain, with some partnerships already ending.

Keepland, launched as Keep’s offline fitness space offering pay-per-session workouts without membership requirements, currently operates solely in Beijing. Despite attempts to revitalize traditional gyms by introducing per-session group exercise classes through its Preferred Fitness Gym initiative in February 2022, the downturn in active users and revenue has compelled Keep to curtail costs aggressively.

This contraction comes against the backdrop of Keep’s IPO shift from the US to the Hong Kong Stock Exchange in July 2023 amidst challenging market conditions. The first half of 2023 saw a significant drop in monthly active users and a 2.7% decline in revenue compared to its peak in 2022, alongside an increased net loss margin.

The fitness industry insider suggests that the bleak revenue from offline gyms and the general consumer reluctance towards high-priced personal training sessions or annual memberships are driving forces behind the scaling back. Consumers are increasingly opting for online classes or free content on platforms like TikTok and Bilibili, impacting traditional gym models severely.

A former Keepland employee hinted at the potential complete withdrawal from the Keepland venture, suggesting a pivot towards less capital-intensive collaboration models as Keep navigates through these operational and financial challenges.

Infomation Source: Fitqs

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