Technogym
Technogym reported H1’22 earnings on August 5. The Italian multinational equipment maker improved revenue behind B2B sales and a resurgence of its North American market.
By the numbers:
- First half revenue totaled €325.2M ($330M), up 17.7% from H1’21.
- North American sales grew 52.6% YoY to €45.3M, 14% of Technogym’s overall business.
- Global B2B sales hit €241.4M, a 34.8% increase from H1’21.
- Global B2C (consumer) sales contracted 13.8%, from €97.2M to €83.8M.
Between the lines: Technogym’s commercial business is its star — respected as a premium brand that elevates a gym’s offering. In a conversation with Fitt Insider, CEO Nerio Alessandri detailed his company’s unwavering belief in the in-club experience.
“Humans are naturally oriented to socializing, and clubs/studios are the ideal places to do so — just as they’re also the place to achieve concrete results through a professional service.”
But, Technogym doesn’t downplay the hybrid experience, investing heavily in software, digital content, and apps that allow it to “intercept people in the various places and moments of their life.”
Wellness on the go. Kicking off in 2012, Technogym’s strategy has been to create the same personalized wellness experience for exercisers wherever they are — first and foremost at the gym but also at home, in hotels, at the doctor, at work, etc.
The company counts 22M users between the MyWellness platform and the Technogym App. Capable of being used as a standalone health dashboard but purpose-built to connect to all Technogym equipment with a tap of the phone, it’s an ecosystem play that yields brand loyalty across hardware and software.
Incoming AI. While Technogym is decidedly out on the metaverse, it’s incorporating artificial intelligence for greater personalization and efficiency — an emerging trend in connected strength. It rolled out its Biostrength smart strength machines in H1 that adapt to a user’s profile and can deliver 30% more results in the same amount of time.
Looking ahead: As gyms prioritize the experience, hospitality emphasizes their wellness accommodations, and exercisers express their need for flexibility, Technogym’s B2B segment will continue to flourish while its at-home business caters to those who can afford it.
