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Xponential Fitness Signs Master Franchise Agreement in New Zealand for CycleBar, StretchLab & Rumble
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Xponential Fitness, Inc. (NYSE: XPOF) has signed a Master Franchise Agreement in New Zealand to license at least 30 studios for its brands CycleBar, StretchLab, and Rumble over the next decade. Boutique Fitness Studios NZ Ltd., a subsidiary of Xponential's Australian Master Franchisee, will spearhead this expansion. The deal follows successful initiatives in Australia and aims to enhance Xponential's international presence. The company has over 2,000 studios globally and plans further expansions in Germany and Singapore, alongside recent growth in various countries.
Positive
Signed Master Franchise Agreement for 30 studios in New Zealand over the next 10 years.
Expansion into New Zealand follows successful initiatives in Australia, enhancing market reach.
Continued international growth with studio launches in several countries, including Saudi Arabia and Japan.
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None.
New Agreement with Australian Partner Who Will Immediately Begin Promotion & Development of Brands in Neighboring New Zealand
IRVINE, Calif.--(BUSINESS WIRE)--
Xponential Fitness, Inc. (NYSE: XPOF), a curator of leading boutique fitness brands across multiple verticals, announced today that it has recently signed a Master Franchise Agreement in New Zealand for three of its brands: CycleBar, StretchLab, and Rumble. The agreement provides the Master Franchisee with the opportunity to license at least 30 studios across the three brands to potential franchisees in New Zealand over the next 10 years. Xponential has over 2,000 open studios worldwide, operating in 10 countries and across four continents.
The New Zealand Master Franchisee, Boutique Fitness Studios NZ Ltd., is a wholly owned subsidiary of Boutique Fitness Studios Pty Ltd., Xponential’s Master Franchisee in Australia for CycleBar, StretchLab and Rumble, which is run by CEO Matt Gordin.
“New Zealand is a natural extension of our existing agreement in Australia for Cyclebar, StretchLab and Rumble. We are confident that Matt Gordin and his entire franchise team will continue their successful development in this new, fitness conscious market,” said John Kersh, Chief International Development Officer for Xponential Fitness.
This agreement also extends Xponential’s existing promotional arrangement with entertainment industry duo, the Stafford Brothers, whose involvement in Australia has already resulted in numerous franchise territory signings for the Rumble brand.
Matt Gordin, CEO of Boutique Fitness Studios Pty. Ltd., is primed to expand Xponential Fitness’ reach into New Zealand. “We are motivated to bring world-class boutique fitness offerings to New Zealand and build upon our successful platform of Xponential brands already present in Australia,” said Gordin.
Xponential Fitness continues to make significant progress in its international expansion, with successful studio launches in Saudi Arabia, Japan, South Korea, Dominican Republic, Spain, and Australia, along with future studios planned for both Germany and Singapore. This growth was accelerated by Xponential’s recent acquisition of its tenth boutique fitness brand BFT, an Australia-based functional training and strength-based fitness franchisor with over 130 studios currently operating in Australia, New Zealand and Singapore.
For more information about Xponential Fitness and to learn more about its various franchise opportunities, visit www.xponential.com.
ABOUT XPONENTIAL FITNESS:
Founded in 2017 and headquartered in Irvine, California, Xponential Fitness, Inc. (NYSE: XPOF) is a curator of leading boutique fitness brands across multiple verticals. Through its mission to make boutique fitness accessible to everyone, the Company has built and curated a diversified platform of nine boutique fitness brands spanning across verticals including Pilates, indoor cycling, barre, stretching, rowing, dancing, boxing, running and yoga. In partnership with its franchisees, Xponential Fitness offers energetic, accessible, and personalized workout experiences led by highly-qualified instructors in studio locations across 48 U.S. states and through master franchise agreements or international expansion in 11 additional countries. Xponential Fitness' portfolio of brands includes Club Pilates, the nation's largest Pilates brand; CycleBar, the nation's largest indoor cycling brand; StretchLab, a concept offering one-on-one and group stretching services; Row House, a high-energy, low-impact indoor rowing workout; AKT, a dance-based cardio workout combining toning, interval and circuit training; YogaSix, the largest franchised yoga brand; Pure Barre, a total body workout that uses the ballet barre to perform small isometric movements; STRIDE, a treadmill-based cardio and strength training concept; Rumble, a boxing-inspired full-body workout; and BFT, a functional training and strength-based fitness program. For more information, please visit the Company’s website at www.xponential.com.
ABOUT CYCLEBAR:
Founded in 2004, CycleBar is the largest indoor cycling brand by number of studios and offers a variety of low-impact, high-intensity indoor cycling workouts, which are inclusive of all fitness levels. CycleBar offers an immersive, multi-sensory experience in state-of-the-art “CycleTheaters,” led by specially trained instructors, enhanced with high-energy “CycleBeats” playlists and tracked using rider-specific “CycleStat” performance metrics. Ranked on Entrepreneur Magazine’s Franchise 500 and Fastest-Growing Franchises in 2021 as well as Inc. Magazine’s Inc. 5000 in 2020, CycleBar is headquartered in Irvine, CA and backed by Xponential Fitness, a curator of leading boutique fitness brands. To learn more about CycleBar, visit www.cyclebar.com.
ABOUT STRETCHLAB:
Founded in 2015, StretchLab is a leading assisted stretching brand that was created to help people through customized flexibility services. It offers one-on-one and group assisted stretching sessions to customers across a broad range of age and fitness levels. StretchLab’s advanced “flexologist” instructors receive extensive training, including both classroom and on-the-job training programs. Ranked on Entrepreneur Magazine’s Fastest-Growing Franchises and Top New Franchises in 2021 as well as Inc. Magazine’s Inc. 5000 in 2020 and 2021, StretchLab is headquartered in Irvine, CA and backed by Xponential Fitness, a curator of leading boutique fitness brands. To learn more about StretchLab, visit www.stretchlab.com.
ABOUT RUMBLE:
Founded in New York City in 2017, Rumble is a group fitness concept delivering a combination of boxing-inspired circuits and the transformative power of resistance training. Pro and amateur fighters glove up together, no matter their fitness level or skill, to reveal their inner fighter. The experience is a 45-minute, 10-round, full-body cardio and strength workout crafted around specially designed water-filled, teardrop-style boxing bags. Rumble was founded by Noah Neiman (former Barry's Bootcamp Master Trainer, and cast member of Bravo’s Work Out New York), Eugene Remm (Co-Founder of Catch Hospitality Group (Catch Restaurants, CATCH STEAK, Lexington Brass), Andy Stenzler (Co-Founder Cosí, Kidville), and Anthony DiMarco (13-time IRONMAN, former Managing Director, Google). For more information, please visit the Company’s website at https://www.rumbleboxinggym.com/
FORWARD LOOKING STATEMENTS:
This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management's judgment, beliefs, current trends, and anticipated financial performance. These forward-looking statements include, without limitation, statements relating to master franchise agreements of CycleBar, StretchLab, and Rumble in New Zealand and the anticipated growth of Xponential Fitness brands in New Zealand. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These factors include, but are not limited to, the impact of COVID-19 pandemic on our business and franchisees; difficulties and challenges in opening studios by franchisees; the ability of franchisees to generate sufficient revenues; risks relating to expansion into international market; and loss or reputation and brand awareness; and other risks as described in the filings of Xponential with the Securities and Exchange Commission. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Xponential undertakes no duty to update such information, except as required under applicable law.
Xponential Fitness signed a Master Franchise Agreement in New Zealand for its brands CycleBar, StretchLab, and Rumble.
How many studios will Xponential Fitness open in New Zealand?
Xponential Fitness plans to license at least 30 studios across its brands in New Zealand over the next 10 years.
Who is the Master Franchisee for Xponential Fitness in New Zealand?
The Master Franchisee in New Zealand is Boutique Fitness Studios NZ Ltd., a subsidiary of Boutique Fitness Studios Pty Ltd. in Australia.
What is the significance of the agreement for Xponential Fitness?
The agreement signifies Xponential Fitness's continued international expansion and market penetration in New Zealand, building on their successful franchise in Australia.
Which brands are included in Xponential Fitness's New Zealand expansion?
The brands included in the expansion are CycleBar, StretchLab, and Rumble.
