PRODUCT NEWS
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| CycleBar prepares for first UK launch in London's Nine Elms |
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| 25 Jul 2018 . BY Tom Walker |
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| Oliver Chipp expects to open at least 30 CycleBar studios in UK over the next five years |
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The Xponential Fitness business models are designed to work outside the rarefied market of central London
– Oliver Chipp |
Indoor cycling chain CycleBar will open its first site in London's Nine Elms in the coming weeks, signalling the brand's entry into the UK market.
CycleBar is one of a number of franchise-based fitness concepts owned by US company Xponential Fitness, which earlier this year revealed plans to take its portfolio of brands global through a master franchise strategy.
In the UK, Xponential has signed a master franchise deal with entrepreneur Oliver Chipp, who expects to open at least 30 CycleBar studios over the next five years.
"We’re really excited about the first UK studio," Chipp told Health Club Management.
"Nine Elms is one of the largest urban regeneration projects in Europe. It’s a superb location near the new US Embassy and Battersea power station, which Apple plans to use for its new UK HQ. We aim to launch late summer."
Chipp added that the launch will mark the beginning of an ambitious expansion push.
"Our plan is to grow," he said.
"The Xponential Fitness business models are designed to work outside the rarefied markets of Manhattan, LA and central London.
"We know there is demand for boutique fitness outside these areas. Xponential’s Club Pilates and CycleBar have proven this in the US. We aim to do the same across the UK."
As well as CycleBar, Xponential's portfolio of brands includes Club Pilates, indoor rowing business Row House and StretchLab, which offers personalised stretching services.
The group is led by a team of industry veterans who have experience of building fitness brands internationally.
CEO Anthony Geisler developed LA Boxing into a successful boxing, kickboxing and mixed martial arts fitness concept, before selling it on.
John Kersh – who helped grow Anytime Fitness into a global business – has also joined the team as chief international development officer.
"What we're creating at Xponential Fitness hasn't been done before and there's enormous consumer interest in boutique fitness across the globe that we intend to capitalise on," said Kersh.
Xponential is backed by financial partner TPG Growth, a growth equity platform of alternative asset firm TPG.
To read an interview with Oliver Chipp, click here for the July issue of Health Club Management.
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