Kuwait Real Estate Company Will Diversify To
Meet Growing Interest In Fitness In The Middle East
Xponential Fitness, Inc. (NYSE: XPOF) announced today it has
signed a Master Franchise Agreement in Kuwait for its brands
Rumble, Club Pilates, StretchLab and CycleBar. The deal, signed
with Kuwait Real Estate Company, Aqarat, will result in the opening
of a minimum of eight studios early in the initial 10-year term of
the agreement, with additional studios to be developed based on
market opportunity.
The Master Franchisee for Xponential in Kuwait is the publicly
traded real estate development company, Aqarat, a prominent
developer and manager of commercial, residential and hospitality
properties in Kuwait and the Middle East, as well as Europe and the
United States. Aqarat also has investments and joint venture
agreements with the hospitality brands Yotel, Courtyard by
Marriott, and IFA Hotels and Resorts.
Kuwait has the fourth largest fitness industry in the Middle
East with annual revenue of nearly $240 million (USD) revenue,
according to research from the International Health, Racquet &
Sportsclub Association. The more than 600 fitness centers are a mix
of local, regional and international operators, with boutique
fitness early in its lifecycle and poised for growth.
“We are thrilled to be working with Aqarat to bring our
world-class boutique fitness studios to Kuwait”, said John Kersh,
Chief International Development Officer of Xponential Fitness.
“Aqarat’s extensive real estate and hospitality experience is
perfectly suited for our customer-focused brands, and they are
well-equipped to deliver our immersive studio experiences to the
Kuwaiti population.”
“Fitness in Kuwait is changing and growing fast,” says Saad
Al-Muneefi, Vice President, Asset Management and Investor Relations
of Aqarat. “We at Aquarat are invested in improving the lives of
our community and are proud of this partnership with Xponential
Fitness to realize our dream of bringing boutique fitness to the
people of Kuwait in a very big way.”
The agreement marks the continued expansion of Xponential
Fitness outside North America. The company currently has studios
across multiple brands operating or in development in 15 countries
including across North America, Europe, Asia-Pacific and Australia.
Most recently in 2022, Xponential signed master franchise
agreements for Club Pilates in Mexico and the UK, and for CycleBar
in Japan.
Rumble, StretchLab, Club Pilates and CycleBar are all backed by
Xponential Fitness, the largest global franchisor of boutique
fitness brands which also include Pure Barre, Row House, YogaSix,
AKT, BFT, and STRIDE Fitness.
For more information about Xponential Fitness visit
www.xponential.com.
ABOUT RUMBLE:
Founded in New York City in 2017, Rumble is a group fitness
concept delivering a combination of boxing-inspired circuits and
the transformative power of resistance training. Pro and amateur
fighters glove up together, no matter their fitness level or skill,
to reveal their inner fighter. The experience is a 45-minute,
10-round, full-body cardio and strength workout crafted around
specially designed water-filled, teardrop-style boxing bags. Rumble
was founded by Noah Neiman (former Barry's Bootcamp Master Trainer,
and cast member of Bravo’s Work Out New York), Eugene Remm
(Co-Founder of Catch Hospitality Group (Catch Restaurants, CATCH
STEAK, Lexington Brass), Andy Stenzler (Co-Founder Cosí, Kidville),
and Anthony DiMarco (13-time IRONMAN, former Managing Director,
Google). Rumble is headquartered in Irvine, CA and backed by
Xponential Fitness, the largest franchisor of boutique fitness
brands.
ABOUT STRETCHLAB:
Founded in 2015, StretchLab is the largest assisted stretching
brand globally that was created to help people through customized
flexibility services. It offers one-on-one and group-assisted
stretching sessions to customers across a broad range of age and
fitness levels. StretchLab’s advanced “flexologist” instructors
receive extensive training, including both classroom and on-the-job
training programs. Ranked on Entrepreneur Magazine’s Franchise 500
in 2022, Fastest-Growing Franchises and Top New Franchises in 2021
and 2022, as well as Inc. Magazine’s Inc. 5000 in 2020 and 2021,
StretchLab is headquartered in Irvine, CA and backed by Xponential
Fitness, the largest franchisor of boutique fitness brands. To
learn more about StretchLab, visit www.stretchlab.com.
ABOUT CLUB PILATES:
Founded in 2007, Club Pilates is the largest Pilates brand by
number of studios, designed with the vision of making Pilates more
accessible, approachable and welcoming to everyone. Based in
Irvine, CA, Club Pilates has appeared in both Entrepreneur
Magazine's Franchise 500 and Fastest-Growing Franchises six years
running, and Inc. Magazine's Inc. 5000 lists multiple times. Club
Pilates offers extensive training certification for its
instructors. Its 500-hour training program includes instruction on
Pilates, barre, Triggerpoint, and TRX Suspension Trainers. Club
Pilates is headquartered in Irvine, CA and backed by Xponential
Fitness, the largest franchisor of boutique fitness brands. To
learn more about Club Pilates, visit
https://www.clubpilates.com.
ABOUT CYCLEBAR:
Founded in 2004, CycleBar is the largest indoor cycling brand by
number of studios and offers a variety of low-impact,
high-intensity indoor cycling workouts, which are inclusive of all
fitness levels. CycleBar offers an immersive, multi-sensory
experience in state-of-the-art “CycleTheaters,” led by specially
trained instructors, enhanced with high-energy “CycleBeats”
playlists and tracked using rider-specific “CycleStat” performance
metrics. Ranked on Entrepreneur Magazine’s Franchise 500 four years
running, Fastest-Growing Franchises in 2021 as well as Inc.
Magazine’s Inc. 5000 in 2020, CycleBar is headquartered in Irvine,
CA and backed by Xponential Fitness, the largest franchisor of
boutique fitness brands. To learn more about CycleBar, visit
www.cyclebar.com.
ABOUT XPONENTIAL
FITNESS:
Xponential Fitness, Inc. (NYSE: XPOF) is the largest global
franchisor of boutique fitness brands. Through its mission to make
boutique fitness accessible to everyone, the Company operates a
diversified platform of ten brands spanning across verticals
including Pilates, indoor cycling, barre, stretching, rowing,
dancing, boxing, running, functional training and yoga. In
partnership with its franchisees, Xponential offers energetic,
accessible, and personalized workout experiences led by highly
qualified instructors in studio locations across 48 U.S. states and
Canada, and through master franchise or international expansion
agreements in 13 additional countries. Xponential Fitness'
portfolio of brands includes Club Pilates, the nation's largest
Pilates brand; CycleBar, the nation's largest indoor cycling brand;
StretchLab, the largest assisted stretching brand in the United
States; Row House, a high-energy, low-impact indoor rowing workout;
AKT, a dance-based cardio workout combining toning, interval and
circuit training; YogaSix, the largest franchised yoga brand; Pure
Barre, a total body workout that uses the ballet barre to perform
small isometric movements; STRIDE Fitness, a treadmill-based cardio
and strength training concept; Rumble, a boxing-inspired full-body
workout; and BFT, a functional training, and strength-based
program. For more information, please visit the Company’s website
at https://xponential.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20221020005460/en/
David Robertson, Fishman Public Relations,
drobertson@fishmanpr.com or 847-945-1300
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