HAMPTON, N.H., Aug. 9, 2021 /PRNewswire/ -- Planet Fitness,
Inc. (NYSE: PLNT), one of the largest and fastest-growing
global franchisors and operators of fitness centers with more
members than any other fitness brand, today announced that it has
signed a franchise agreement with Fitness Para Todos, S. de.
R.L. de C.V. ("FPT"), to accelerate growth and dramatically expand
its footprint in Mexico with the
development of a minimum of 80 new stores over the next five
years.
FPT is a joint venture between the Ibarra Group (IBG), a
prominent Mexican retail services company with a strong track
record successfully growing several leading U.S. brands such as Old
Navy, American Eagle and Aéropostale in the Mexican market for more
than 30 years, and Argonne Capital Group, one of the largest
investors within the Planet Fitness system with over 95 locations
in the U.S.
Planet Fitness currently has 2,170 stores in 50 states, the
District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. There are currently five Planet
Fitness clubs in Mexico, all
operating in the Monterrey
area.
"This significant development agreement is a testament to the
progress we have made executing against our strategic international
growth and development plans," said Chris
Rondeau, Chief Executive Officer at Planet Fitness. "With
this expansion, we are meeting an important need in the market as
73 percent of the Mexican population is overweight* and 97
percent of the population doesn't yet belong to a gym**. As we
further expand the Judgement Free Zone and bring our high-quality
and affordable fitness experience to Mexico, FPT is an ideal franchise group to
partner with given their deep knowledge of the local markets, and
their real estate, marketing and operational expertise."
"We are eager to join the Planet Fitness system and partner with
them on their continued international expansion," said Carlos Ibarra, founder and owner of IBG. "We
believe that there is a huge opportunity to serve millions of
Mexicans who are searching for a non-intimidating, high-quality and
affordable fitness experience. Planet Fitness' offering far exceeds
anything else offered in the Mexican market."
"We are excited to bring world class partners like Carlos Ibarra and his management team into our
system," said Ray Miolla, Chief
Development Officer at Planet Fitness. "We believe that
Mexico presents a large
opportunity to further scale our brand internationally, and this
new agreement will help to make Planet Fitness a national brand
across all of Mexico. Looking
ahead, we believe we are well-positioned to capitalize on the
opportunity in Mexico and our
long-term potential in current and future international
markets."
Planet Fitness offers a high-quality fitness experience for
extremely affordable prices, including a variety of benefits, such
as a welcoming judgement free environment,
state-of-the-art cardio machines and strength equipment,
30-Minute Express Circuit, fully equipped locker rooms and more.
The Planet Fitness Black Card® membership in Mexico includes additional perks, such as
access to any club in the world at no additional charge, the
ability to bring a guest anytime, and additional amenities like
unlimited use of massage chairs, HydroMassage® beds, Total Body
Enhancement booths, a daily blow-dry or haircut, and more.
For more information on Planet Fitness and to find a club near
you, visit www.PlanetFitness.com.
* OECD, "Launch of the Study: 'The Heavy Burden of
Obesity: The Economics of Prevention'"
** The 2020 IHRSA
Global Report "The State of the Health Club Industry"
About Planet Fitness
Founded in 1992 in Dover, NH,
Planet Fitness is one of the largest and fastest-growing
franchisors and operators of fitness centers in the United States by number of members and
locations. As of June 30, 2021,
Planet Fitness had more than 14.8 million members and 2,170 stores
in 50 states, the District of
Columbia, Puerto Rico,
Canada, Panama, Mexico and Australia. The Company's mission is to enhance
people's lives by providing a high-quality fitness experience in a
welcoming, non-intimidating environment, which we call the
Judgement Free Zone®. More than 95% of Planet Fitness stores are
owned and operated by independent business men and women.
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SOURCE Planet Fitness, Inc.