The global competition for the trillion-dollar fitness consumer is heating up.
lululemon-owned MIRROR will debut in Canada next month. The Vancouver-based apparel brand will begin selling its home workout device at 40 Canadian locations starting in late November.
After entering Australia this summer, Peloton gets its “big bang” moment Down Under this week as its showrooms begin opening across the country. Delayed by the pandemic, the connected fitness company will add additional stores throughout the holiday season and into next year.
Eyeing expansion in mainland China, Hong Kong gym chain Pure Group, owner of the Pure Yoga and Pure Fitness brands, is seeking to raise about $100M in funding. According to Bloomberg, a deal could value the gym chain at more than $400M.
Zooming out: This news adds to developments we’ve been tracking. From VAHA and Curefit-owned TREAD to Fiture, the Peloton of ‘X’ trend has gone global. Plus, as we noted in Issue No. 150, Brazilian gym chain SmartFit recently completed its public offering. Meanwhile, in the UK, brick-and-mortar operators The Gym Group and PureGym are seeing visits rebound.
Stateside: Last week saw health club operator Life Fitness make its public market debut in a downsized IPO. Pressing pause, equipment maker iFIT Health & Fitness delayed its public offering, citing unfavorable market conditions.