LONDON, United Kingdom — London-based yoga studio triyoga has joined fitness and wellbeing ‘supergroup’ United Fitness Brands (UFB), sitting alongside Boom Cycle, KOBOX and Barrecore.
The acquisition is the latest in a string of big moves UFB has made since its launch one year ago, as part of its mission to become Europe’s largest boutique studio chain.
Backed by venture capital trust Pembroke VC and Nectar Capital, and chaired by David Lloyd, Founder of David Lloyd Leisure Clubs, the powerhouse — originally formed by Boom Cycle and KOBOX — hopes that by bringing together a collective of London’s premium fitness offerings it can accelerate collective growth and scale both nationally and internationally.
The industry-disrupting strategy reflects a new era for the boutique fitness sector which is increasingly moving towards a more consolidated and collaborative space.
In the US, Xponential Fitness — a similar curator of boutique fitness brands boasting a portfolio of 10 companies — has also been enjoying exponential growth. Following its IPO in July of last year, the company predicts annual systemwide sales of between $690 million to $700 million and revenue in the range of $135.5 to $137 million as it continues to expand its market share.
A recently inked deal with Fitness International, LLC, operator of LA Fitness, is also expected to facilitate the launch of 350 franchised locations across the next five years, adding Xponential brands to more than 500 Fitness International locations.
Elsewhere, fitness franchises including Burn Boot Camp, F45 and Orangetheory are also continuing to expand thanks to potential franchisees turning to established brands to provide a more stable and supportive route into the industry amid challenging times.
For triyoga, which currently operates five studios across London, joining the UFB family should also provide a more efficient and stable way for it to run as the fitness industry bounces back from the coronavirus pandemic. Under the umbrella of United Fitness Brands, costs can be spread and support and expertise shared, leaving it to concentrate on what it does best — running classes and creating amazing experiences.
And, according to Founder Jonathan Sattin, this was a key factor in his decision to partner with the company.
“We have been looking for the right partner to help us secure our future and do our part in keeping yoga going in London while maintaining our values and growing — these three attributes had to be entwined or it wouldn’t work. So becoming part of UFB — the home to a number of the UK’s high-quality fitness and wellness brands, including Boom Cycle, Barrecore and KOBOX, ticked all the boxes,” he explained in a statement.
“I have been working closely with their Chairman, David Lloyd, Joe Cohen their CEO and Robert Rowland their COO who share our values and ambitions for triyoga. They are supportive in keeping the essence and uniqueness of our much-loved triyoga,” he added.
With triyoga now adding another dimension of wellness to the UFB company, alongside indoor cycling, boxing and barre — and adding to its combined portfolio of over 25 sites — UFB is now looking forward to its next stage of growth.
“We are thrilled to be adding such a titan of the wellness industry to UFB umbrella,” revealed Robert Rowland, COO of United Fitness Brands.
And, “despite the extremely challenging environment, we are confident in the long-term desirability of the sector. With the formation of UFB and the addition of such successful brands UFB is perfectly poised to deliver an exceptional in-studio offering as well as innovative digital workouts and products,” he added.