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Fne79digdutch.Pdf April 30, 2019 Issue N°79 You’re reading Fitness News Europe, the independent business news publication for executives in the international fitness industry. With an online portal and a bi-monthly newsletter, Fitness News Europe provides reliable business news and often exclusive analysis on the fast-moving fitness market. Check out our website for further information about the publication, to register for a free trial and obtain your subscription. CONTENTS MAIN STORIES Basic-Fit reinforcing Dutch leadership with Fitland buy ................................................................. Orangetheory Fitness investing in Europe ...................................................................................... Fitness First takes Barry’s into Germany and Austria .................................................................... Core Health & Fitness adds to multi-brand strategy ...................................................................... Life Fitness heading for rapid sale ................................................................................................... Puma doubles intensity in fitness ................................................................................................... Lululemon to quadruple international sales ................................................................................... Swedish retail investor builds STC gym group ................................................................................ Pure Gym to spread small box gyms ClassPass launches European blitz .................................................................................................. BRIEFS Soft Briefs: Reebok, Lolë, Gymshark................................................................................................ Gym Briefs: TrainMore, Ken Group, Crunch Fitness, UFC Gym ........................................................ Fitness News Europe is published by Zelus (France) Editor: Barbara Smit [email protected] [email protected] @ All rights reserved. ISNN: 2650-8702 The information published in this newsletter cannot be copied or distributed electronically without the publisher’s written permission. 1 FITNESS NEWS Europe FITNESS NEWS EUROPE - ISSUE 79 Basic-Fit reinforcing Dutch leadership with Fitland buy Basic-Fit intends to reinforce its leadership of the Dutch market with the agreed ac- - ator in the Netherlands. quisition of fitness clubs owned by Fitland Groep, the third-largest fitness club oper Fitland runs 37 Dutch clubs with over 56,000 members that reported sales in the range of €21 million last year. Unlike the two market leaders, Basic-Fit and Fit For Free, Fitland operates around the middle of the market with monthly membership- prices of up to €50 for larger clubs with swimming pools. Basic-Fit is already the leading player in the Dutch market with about 550,000 mem bers working out at 162 clubs in the Netherlands. The combination would thus form a group of nearly 200 clubs with more than 600,000 members, amounting to more than- 30% of Dutch club members. Started near Nijmegen by Maarten van Kempen, Fitland has received financial sup port in the last years from Jan Zeeman, a Dutch textile retail magnate, and another affluent investor. They own the majority of the shares in Fitland Groep, which runs several Dutch hotels and wellness centers. It previously agreed to offload these facilities to another- party, including four hotels incorporating fitness clubs acquired in the Basic-Fit deal. Hans van der Aar, chief financial officer at Basic-Fit, said that the Fitland clubs re ported positive EBITDA. “In any case we bought them for the potential they have as Basic-Fit. They are all in white spots and will be very profitable with our concept,” said Van der Aar. The buyer said it wanted to purchase all of the Fitland clubs and would rebrand- most of them, while a few would be sold. Amenities such as swimming pools will be removed to implement the full Basic-Fit concept, at the same price points, all proba bly by the end of this year. RETURN TO CONTENTS RETURN TO Basic-Fit’s managers have learned to transform mid-market clubs into Basic-Fit, as they have done with many of their former Health City clubs. “We expect that about 20% of the members will leave, but many will return and then we will get more,” said Van der Aar. - No longer the sole shareholder, Van Kempen relinquished the leadership in 2017. Theretail chief chain executive’s for hearing seat aids. was taken over the same year by Peter Peters, who pre viously worked for large companies such as Nokia and Philips, and a leading Dutch “We started by making far-reaching internal changes, to strengthen management, improve processes and marketing, because Fitland had been run like a family firm,” said Peters. “Then we built a business plan for growth, and we had to decide if we should do this alone or with a partner.” The ensuing discussions made it clear that there was plenty of interest to buy Fitland. The fit was apparently most judicious for Basic-Fit, due to Fitland’s locations and some of its contents. “We offer more guidance and we have quite a few group classes, which is an area of interest for Basic-Fit,” said Peters. He will leave the company after- the integration but he is eager to remain in the fitness industry. Basic-Fit has not expanded much in the Netherlands in the last years because it dou 2 FITNESS NEWS Europe FITNESS NEWS EUROPE - ISSUE 79 bled down on expansion in France, but the operator signalled earlier this year that it- wantedisting estate to pick in theup aNetherlands. little more growth in other markets. Fitland was an opportunity to bulk up the Dutch network rapidly with locations that neatly complement the ex Basic-Fit said that the acquisition price, including the refurbishment and rebranding of the Fitland clubs, would be equivalent on a per club basis to the initial investment- to build a Basic-Fit club. The proposed deal should be financed through existing bank facilities and it’s antici pated to be earnings accretive from next year. The takeover should be finalised in July, subject to completion of the consultation of the works councils of both groups. Van der Aar said the takeover would in no way distract from the operator’s plans to open about 125 clubs across its five European markets this year, because the Dutch- and French expansion teams work separately. The agreement was announced just after Basic-Fit reported that it raised its turn over by 29% to €119.4 million for the first quarter. The Dutch group opened 22 clubs in the three months to form a network of 651gyms in five European countries at the end of March. That’s an increase of 118 clubs compared with the same period last year, while the number of memberships jumped by 19% to 1.96 million. - Basic-Fit’s sales of fitness memberships was up by 29% to €116.3 million for the quarter, due to the larger number of members as well as an 8% rise in average mem bership price to €20.43 for the quarter. - This comes after Basic-Fit raised the annual price of its standard membership price by switching the duration from one month to four weeks, and by launching a premi umthe Basic-Fitmembership app. at just under €30 for four weeks, allowing members to train with a friend. Both memberships include access to all clubs around Europe and free usage of Basic-Fit said that 25% of new joiners are taking this option, and that over 130,000 friends have joined premium members on their workouts. “Although this limits the growth individual memberships, it does have a clear positive effect on revenue,” said René Moos, the group’s chief executive, in a statement. RETURN TO CONTENTS RETURN TO The Dutch operator closed one club in Spain during the quarter but added 19 in France, three in Belgium and one in the Netherlands. The plans to add 125 clubs this year, on top of the Fitland conversions, compares withphase. 108 openings in 2018. Basic-Fit has 36 clubs under construction and contracts signed for another 37 clubs. More than 250 clubs are in the research or negotiation Orangetheory Fitness investing in Europe David Long, chief executive at Orangetheory Fitness, says that the company has made it a priority to push its concept in Europe, with more direct investments to reach a target of at least 200 studios in Europe by 2024. “The parent brand is really excited about the prospects in major cities in Germany- and in Paris, to the point where we might just end up doing a joint venture and put in some of our own money,” Long said in Cologne earlier this month, adding that Oran 3 FITNESS NEWS Europe FITNESS NEWS EUROPE - ISSUE 79 - getheory Fitness is forming a team of European field staff to support the growth. The U.S. concept using rowers, treadmills, suspension straps and heart-rate moni toring announced earlier this year that it surpassed sales of $1 billion with over 1,120 studiosinfrastructure at the end to accelerate of 2018. Only the growth.a dozen of them are in Europe so far, but the franchise holder has been holding talks with many more potential partners and is investing in- - As Long explains, at least two roving employees should get started this year to sup portopenings. European franchisees, and to make sure that all aspects of the concept are im plemented properly. They are usually on hand several weeks before and after club- The field staff will probably be based in Germany, which is a key target for Orange theory Fitness. A first German studio was launched in Lübeck by Jeannine Mickeleit around
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