![]() That doesn't concern Belsham because of the company's prestige positioning. It's also about $30 per month more expensive compared to Peloton, Apple Fitness+ and other rivals that offers similar fitness classes. Its original name, "Variis" was quietly scrapped earlier this year in favor of Equinox+. Its polish has faded recently because of a treadmill recall and delivery issues.Įquinox's app launch had a few hiccups. The company has about 2 million subscribers as of this May, with membership growing 135% compared to a year prior. Peloton has been the biggest beneficiary of that trend. That growth is primarily driven by people's habits being permanently changed by the pandemic. Online and connected fitness is projected to become a $60 billion industry within the next six years, according to Allied Market Research. The company declined to disclose how many total members the app has.Įquinox has entered a competitive but massively growing space. Belsham said that the privately held company is "very excited about the speed of which the rebound is happening and that people are willing to come back." About half of classes that are completed in the app are done in its gyms, he said, reflecting perhaps another permanent change in people's habits. Gyms are reopening as Covid-19 restrictions are relaxed. "We really believe that physical and digital are complimentary." "The access that digital gives you to fitness allows you start on the journey, but the physical experience gives you that community, motivation and access to instructors and equipment that really drives that habit," he told CNN Business. Simon Belsham, president of Equinox Media, said its physical footprint and its app is giving the brand an advantage over its buzzier rivals. Equinox is experimenting with outdoor gyms it calls "In the Wild" and has opened 20 "SoulCycle Outside" studios. The New York-based company is also trying differentiate itself with its "tribrid" model, which includes working out at home through its app, visiting its gyms and exercising outdoors. That changed last year when the company started selling stationary bikes that streamed SoulCycle classes and launched a $39.99 per month app, called Equinox+, that is loaded with spin classes, meditation, strength training, boxing and even Tom Brady-backed recovery workouts. The company also said it would be donating a portion of new membership sales, or a minimum of $10,000, to the Trevor Project, a nonprofit organization that focuses on suicide prevention among LGBTQ+ youth.Expensive memberships to its roughly 100 gyms across the United States served as Equinox's primary revenue driver for its three-decade existence. The company declined to comment on Ross’ decision to host a fundraiser for Trump, but said its promotion this weekend was meant to be a gesture of inclusiveness. Town Sports International is the parent company of New York Sports Clubs, Boston Sports Clubs, Philadelphia Sports Clubs and Washington Sports Clubs. “We want all of our members to have a sense of comfortability and acceptance the second they walk through our doors.” ![]() ![]() ![]() “At Town Sports International gyms, we strive to maintain and foster all-embracing spaces of inclusion and acceptance,” CEO Patrick Walsh said in a statement. Some people who frequent the luxury gyms said that Ross’ decision signaled support of a President whose inflammatory rhetoric and policies targeting people of color are out of sync with the gym’s progressive clientele. ![]() The move comes as many people call for a boycott of businesses like Equinox, SoulCycle and Blink Fitness, after news broke that billionaire owner Stephen Ross would be hosting a fundraiser for President Donald Trump. The gyms will also waive all initiation fees for anyone who decides to purchase a membership. ![]()
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