Interactive Strength Inc. (Nasdaq:TRNR) Drives CLMBR Growth With New Gold's Gym Texas Installations Following the Six-Figure Order From Gold's Gym SoCal
Interactive Strength Inc. (NASDAQ:TRNR), maker of CLMBR and FORME fitness equipment, announced new installations of CLMBRs in Gold's Gym Texas locations. This follows a recent six-figure order from Gold's Gym SoCal for 23 locations. The company is installing CLMBRs in three of 58 Gold's Gym locations in Texas, with potential for expansion.
CEO Trent Ward expressed high expectations for growth within the Gold's Gym system, which has over 600 locations worldwide. Gym chains are adding CLMBRs to their cardio floors, often replacing elliptical machines. Some are piloting group fitness solutions with 10-15 CLMBRs in rooms previously used for spin classes, receiving positive feedback similar to Studio CLMBR in Denver.
- New installations of CLMBRs in Gold's Gym Texas locations
- Recent six-figure order from Gold's Gym SoCal for 23 locations
- Potential for expansion to 55 more Gold's Gym locations in Texas
- Opportunity to expand into Gold's Gym's 600+ global locations
- Positive feedback on group fitness solutions using CLMBRs
- Initial installation to only 3 out of 58 Gold's Gym locations in Texas
Interactive Strength Inc.'s recent order and ongoing installations with Gold's Gym highlight a significant business development. Gold's Gym's commitment, initially in SoCal and now in Texas, signifies growing market acceptance of CLMBR equipment, suggesting potential revenue growth for TRNR. The prospect of expanding to potentially 58 locations in Texas and over 600 globally could substantially increase sales and brand presence.
From a financial perspective, six-figure orders indicate considerable revenue inflows. If TRNR successfully expands across Gold's Gym's other locations, it can lead to sustainable revenue streams. However, investors should consider the company's ability to scale manufacturing and logistics to meet such demands. This growth can positively affect TRNR's top-line and potentially its stock performance in the near term.
One aspect to watch is the replacement of elliptical machines. This trend could indicate a shift in consumer preferences toward more dynamic fitness experiences, making CLMBR a competitor against traditional fitness equipment. Considering the competitive fitness market, sustaining this momentum will be key for long-term financial health.
For a retail investor, the partnership between TRNR and Gold's Gym is a positive signal of market traction. The adoption of CLMBR equipment in multiple locations suggests that Gold's Gym sees value and demand in this specific fitness modality. The fact that gym chains are replacing traditional equipment with CLMBRs indicates a broader industry trend towards innovative and efficient workout options.
Moreover, the positive feedback from group fitness solutions and dedicated climbing rooms could point to increased member engagement and satisfaction. This is critical for gyms aiming to retain and attract new members. For TRNR, this collaborative approach might not only boost equipment sales but also foster brand loyalty and visibility in a competitive market.
Investors should also be mindful of how this trend aligns with broader fitness industry movements towards functional and high-intensity workouts. If CLMBR can establish itself as a staple in gyms, it could capture a significant share of the fitness equipment market.
Gold's Gym is installing multiple CLMBRs in three Central Texas locations initially and there is a potential of 58 total locations in Texas
Gold's Gym SoCal is installing multiple CLMBRs in each of its 23 locations in California
There are more than 600 locations in the overall Gold's Gym system
AUSTIN, TX / ACCESSWIRE / July 18, 2024 / Interactive Strength Inc. (NASDAQ:TRNR) ("TRNR" or "the Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, today announced that, following last month's six-figure order from Gold's Gym SoCal, Gold's Gym is installing CLMBRs in three of the brand's 58 locations in Texas.
Trent Ward, Co-Founder and CEO of TRNR, said, "We have high expectations for future growth in the Gold's Gym system due to the six-figure flagship CLMBR order for the 23 locations of Gold's Gym SoCal that we announced at the end of June. Today's announcement of the installations of multiple CLMBRs in three Gold's Gym locations in Central Texas during July and August is a great next step in penetrating the larger Gold's Gym system. We hope to expand CLMBR installations to the other 55 Gold's Gym locations in Texas and then to more of Gold's Gym's 600 plus locations."
Gym chains are adding CLMBRs to the cardio floor and are often replacing elliptical machines to make room for the new equipment. Climbing is an efficient and effective full-body strength and cardio workout, and one that can result in greater posterior chain activation than other equipment.
Additionally, some gym chains have started to pilot group fitness solutions where 10 or 15 CLMBRs are grouped together in a room previously used for spin classes. The initial feedback has been very positive in these instances and it mimics the same feedback that customers of Studio CLMBR in Denver have had for years about the class being both fun and an incredible workout.
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About Gold's Gym:
What started out in 1965 as a small gym in Venice Beach, California has since become the most iconic fitness company in the world - Gold's Gym. Over the last 55 years, Gold's Gym has developed into a global brand with over 600 locations spanning 6 continents. Bodybuilding greats such as Arnold Schwarzenegger, Lou Ferrigno and Franco Columbu worked out at the original Gold's Gym, which went on to become the most legendary gym in the world. In the fitness industry, the brand enjoys cult status and universal. In 2020, the RSG Group acquired Gold's Gym and integrated the brand into its portfolio, making it the global leader in the fitness sector. For more information, go to goldsgym.com or follow Gold's Gym on Facebook, Instagram and Twitter.
About Interactive Strength Inc.:
Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol: TRNR).
CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout. CLMBR's design is compact and easy to move - making it perfect for commercial or in-home use. With its low impact and ergonomic movement, CLMBR is safe for most ages and levels of ability and can be found at gyms and fitness studios, hotels, and physical therapy facilities, as well as available for consumers at home. www.clmbr.com.
FORME is a digital fitness platform that combines premium smart gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic fitness experience through two connected hardware products: 1) The FORME Studio Lift (fitness mirror and cable-based digital resistance) and 2) The FORME Studio (fitness mirror). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. www.formelife.com.
Forward Looking Statements:
This press release includes certain statements that are "forward-looking statements" for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management's assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as "believe", "project", "expect", "anticipate", "estimate", "intend", "strategy", "future", "opportunity", "plan", "may", "should", "will", "would", "will be", "will continue", "will likely result" or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the possibility of Gold's Gym installing additional CLMBRs or the Company generating revenue from sales of CLMBR. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: demand for our products; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand for our products and adequately maintain our inventory; and our reliance on a limited number of suppliers and distributors for our products. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.
SOURCE: Interactive Strength Inc.
View the original press release on accesswire.com
FAQ
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