Equinox is touting digital workouts even as gym visits bounce back to pre-pandemic levels.
Warm-up. Equinox has 100 luxury health clubs globally and owns SoulCycle, Blink Fitness, and Equinox Hotels. In 2020, as gyms shuttered, the company’s losses topped $350M.
Accelerating its digital efforts, including Equinox+ and the SoulCycle at-home bike, Equinox landed an investment from private equity firm Silver Lake in early 2020.
Work out. According to Equinox president Scott DeRue, its omnichannel efforts are paying off, adding: “Our business today is stronger than it’s been at any point since March of 2020.”
- Weekly check-in volume at gyms is the highest it has been since COVID started.
- Over the last eight months, Equinox’s sales outperformed the same period in 2019.
- 30% of Equinox+ digital content is streamed while attending one of its clubs.
IPO? Last year, rumors of a public offering via SPAC merger swirled, but DeRue said Equinox has no plans to pursue a SPAC at this time.
Looking ahead: As the fitness industry tries to find its footing, it’s becoming increasingly clear that consumers prefer a combination of digital and IRL exercise. Moving toward a hybrid future, add Equinox to the list of operators who hope to provide the best of both worlds.