Today’s key global wellness news articles from around the world, impacting the industry and influencing the business of wellness.
The massive popularity of gummy vitamins (which saw 137% year-on-year growth in the US last year, NMI, 2021) is spurring creative new candy-inspired formats for supplements. We spotlight five recently launched products from US brands, from next-gen gummies to functional lollipops and jelly beans.
While Peloton is the most familiar name in connected fitness, Echelon’s bikes are probably the ones you’ve seen before without noticing. Echelon’s bikes are among the first that pop up when you google “cheaper Peloton alternative,” and it’s also the company behind Walmart’s $497 connected bike.
Investor action continues to spread from climate concerns to the Sustainable Development Goals (SDGs). Growing awareness of the impact of investment and corporate decision making on the food system has seen 53 investors with $12.4 trillion under management pledge engagement on global nutrition.
Britain’s biggest gym operator has secured a £300 million equity investment from KKR to back its expansion plans following the shelving of a mooted initial public offering. Pure Gym, which has more than 500 clubs in Europe, said the US private equity firm would become “a significant minority investor” in the business alongside management and Leonard Green & Partners, which retains majority ownership.
Lululemon spent $500 million on high-tech fitness startup Mirror but the deal is losing its shine, analysts say
Lululemon slashed its sales forecasts for the year for its Mirror brand on Thursday. The company acquired Mirror for $500 million in 2020. Increased competition and the reopening of gyms have dented sales at some home fitness brands. Lululemon’s $500 million acquisition of high-tech fitness brand Mirror doesn’t seem to be paying off.
The fitness segment of the wellness industry experienced a 37.1 percent decline in spending in 2020, but it is expected to rebound with the hybrid brick-and-mortar and digital fitness segment antic | The physical activity segment of the wellness industry experienced the greatest decline in revenue in 2020 of the 11 wellness segments reviewed, but the future of hybrid brick-and-mortar and digital fitness segment of the market globally is anticipated to be bright due to a shift in values for consumers, who are taking their health more seriously, according to the report by the Global Wellness Institute.