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$130 million global investment to boost Fitness First brand
Global health club chain Fitness First plans to invest $130 million in renovating clubs, exploring new fitness ideas and develop 15 new sites in major cities across the world.
The move follows Fitness First's recent launch of 'The Zone' in Sydney - a world-first club concept focussed on dynamic movement training that promises to help time poor fitness enthusiasts enjoy maximum results in minimum time.
The global investment comes as Fitness First Chief Executive Andy Coslett looks to revive the business after it came close to administration last year.
A large portion of the investment will see money being spent on the renovation of old clubs, while the company also wants to use the money to test out new ideas, in order to reassert itself in what is now a highly competitive market.
Up to a third of the investment will be spent on opening 15 new sites in Germany, India, Singapore, Malaysia and Thailand.
Having stabilised the business, Coslett recently explained that Fitness First wants to add new clubs "in markets where we see clear opportunities for growth."
Identifying specific opportunities for growth in Asia, Coslett added "we now have 83 clubs with 213,000 members in Hong Kong, Singapore, Indonesia, Malaysia, Thailand and the Philippines."
With operations in the UK and Australian under considerable pressure in recent years, Fitness First Australia's recent launch of 'The Zone' in Sydney is described as a "a world-first club concept focussed on dynamic movement training that promises to help time poor fitness enthusiasts enjoy maximum results in minimum time.
"The custom built club, offering six zones, each dedicated purely to small group training, is designed to push members' fitness limits throughout the day."
Introducing the new concept, Fitness First Australia claim to be "leading both the Australian and global fitness industries."
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