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UNITING THE WORLD OF FITNESS
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Health Club Management

Health Club Management

News

SoulCycle announces plans for IPO

Another day, another US fitness IPO. Following the news this week that budget chain Planet Fitness is to go public, US-based boutique cycling studio operator SoulCycle has confirmed it too will float on the stock market.

Yesterday’s (July 30) filing with US regulators came after weeks of speculation that SoulCycle would become the latest fitness company to undergo a public offering. Wall Street has shown an appetite for health and fitness floatations through both the warm reception to the Planet Fitness news and the staggering response to Fitbit’s listing earlier this year, when shares jumped 60 per cent on opening.

SoulCycle has gained a cult following in the US, enhanced by celebrity fans such as David Beckham and Tom Cruise. The boutique offering has around 40 US studios with a heavy focus on New York, and is expected to operate up to 60 clubs worldwide by 2016.

In addition to its popular classes, the company also has a retail clothing line, the popularity of which helped SoulCycle increase net income by about 42 per cent to US$25.3m (€23m, £16m) in 2014.

In its filing on Thursday, the company outlined a nominal fundraising target of US$100m (€91m, £64m), although this could change. It also did not specify how many shares the company planned to sell, the expected price or the exchange on which it intends to list its shares.

Founded in 2006 by former real estate broker Elizabeth Cutler and former talent agent Julie Rice, the pair reportedly sold a majority stake to Equinox Holdings – owned by real estate firm Related Cos and buyout firm Leonard Green & Partners LP – earlier this year.

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Another day, another US fitness IPO. Following the news this week that budget chain Planet Fitness is to go public, US-based boutique cycling studio operator SoulCycle has confirmed it too will float on the stock market.
HAF,FIT,IND,SAB,CAS
812188_997079.jpg
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News

SoulCycle announces plans for IPO

Another day, another US fitness IPO. Following the news this week that budget chain Planet Fitness is to go public, US-based boutique cycling studio operator SoulCycle has confirmed it too will float on the stock market.

Yesterday’s (July 30) filing with US regulators came after weeks of speculation that SoulCycle would become the latest fitness company to undergo a public offering. Wall Street has shown an appetite for health and fitness floatations through both the warm reception to the Planet Fitness news and the staggering response to Fitbit’s listing earlier this year, when shares jumped 60 per cent on opening.

SoulCycle has gained a cult following in the US, enhanced by celebrity fans such as David Beckham and Tom Cruise. The boutique offering has around 40 US studios with a heavy focus on New York, and is expected to operate up to 60 clubs worldwide by 2016.

In addition to its popular classes, the company also has a retail clothing line, the popularity of which helped SoulCycle increase net income by about 42 per cent to US$25.3m (€23m, £16m) in 2014.

In its filing on Thursday, the company outlined a nominal fundraising target of US$100m (€91m, £64m), although this could change. It also did not specify how many shares the company planned to sell, the expected price or the exchange on which it intends to list its shares.

Founded in 2006 by former real estate broker Elizabeth Cutler and former talent agent Julie Rice, the pair reportedly sold a majority stake to Equinox Holdings – owned by real estate firm Related Cos and buyout firm Leonard Green & Partners LP – earlier this year.

Sign up for FREE ezines & magazines
Another day, another US fitness IPO. Following the news this week that budget chain Planet Fitness is to go public, US-based boutique cycling studio operator SoulCycle has confirmed it too will float on the stock market.
HAF,FIT,IND,SAB,CAS
812188_997079.jpg

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Features
Running
If your body is falling forward because it’s being pulled by gravity, it can relax and you don’t have to push yourself forward - Danny Dreyer, CHIRunning
Features
Talking point
As we begin a new decade, will boutiques extend beyond the major cities? Will the budget boom continue? How will digital fitness impact the sector? Kath Hudson speaks to some of the industry’s big hitters to find out what 2020 could have in store
Features
Design focus
Fitness giant Les Mills has launched three new studio spaces at its Auckland City Gym in New Zealand
Features
Corporate wellness
Corporate wellness is getting on to the agenda of a growing number of companies, who appreciate the fact their employees are their number one asset. Kath Hudson reports
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Trends
Retreats are where boutique fitness is at in 2020. High-end operators are now designing packages to take their communities to inspiring locations, in order to escape everyday life and immerse themselves in exercise, mindfulness and relaxation. Kath Hudson reports
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HCM people

Gita Sjahrir

Founder, R-FITNESS
We became the first boutique fitness brand in all of Southeast Asia to ever raise venture capital backing. This was positive for the industry as it signalled that the industry had growth potential
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One of the opportunities we’re looking at is in London. The location doesn’t suit a low-cost gym, but would suit a boutique-style model. - John Oxley
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you can never sit back and say ‘yeah, we’ve got it now, it’s all sorted’. With each change of government, each change of minister, you have to keep working on those relationships
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Featured supplier: Nutrition tips for a healthy life
A healthy diet has massive benefits for your health, both inside and out.
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Featured supplier: WEXO: The definitive cross training solution
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Video Gallery
How to use the MZ-Bodyscan
MyZone
The Best Product for the Best Clubs Read more
More videos:
Company profiles
Company profile: Merrithew™ - Leaders in Mindful Movement™
Merrithew™ enriches the lives of others with responsible exercise modalities and innovative, multidisciplinary fitness offerings ...
Company profiles
Company profile: Fisikal Limited
Fisikal helps fitness professionals, operators and education organisations improve efficiencies and service through its online ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Management software
Fisikal: Management software
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Wearable technology solutions
MyZone: Wearable technology solutions
Audio visual
Hutchison Technologies: Audio visual
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Trade associations
International SPA Association - iSPA: Trade associations
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
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Diary dates
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