Established in 1994, Ceramic Solutions has excelled at the supply and installation of swimming pool tiles and equipment for the pool and leisure industry, with a focus on the needs of end-users. …read more
ClassPass looks for Asian expansion with Singapore launch
With its international expansion having slowed over the past 18 months, leading sharing platform ClassPass has announced that it is set to go live in Singapore, the first city Asian city in which it will operate.
US-based ClassPass allows its users to book fitness classes and packages across a multitude of fitness facilities and works with more than 10,000 fitness partners across over 50 cities, primarily in the USA but also in Australia and Canada.
Seeking additional growth opportunities, the company’s move into Asia follows its recruitment of Chloe Ross as its new Vice President - International in May and is expected to include other Asian countries after Singapore.
Singapore’s sovereign fund, Temasek, having led ClassPass’s US$70 million capital investment funding round last year and its sophisticated fitness market are seen as factors in it being ClassPass’ starting point on the continent.
The New York, USA-based business was the first to pioneer the fitness subscription model but it already has competition in Singapore and other parts of Asia. Singapore’s own GuavaPass operates in 12 countries across Asia and the Middle East, having previously raised US$5 million, while another rival called KFit is present in four cities in South east Asia.
However, KFit’s experience shows that models for fitness sharing are challenging in Asia. In 2016 KFit raised more than $15 million from investors and scaled to over a dozen cities before it changed direction to coupon-style group deals in a strategy that included the actual purchase of Groupon businesses in Southeast Asia.
KFit exited the Australian and New Zealand markets in late 2016 after less than a year of operations.
ClassPass has also faced challenges, including having raise the price of its core offerings and a management reshuffle.
ClassPass will launch in Singapore as of next Tuesday (7th August) with its website now active.
Click here for more information.
Image: ClassPass founder Payal Kadakia.
1st June 2018 - ClassPass announces plans for aggressive global expansion
3rd April 2017 - Google launches new booking service for fitness classes
29th November 2016 - Lookfit online comparison site aims to empower fitness consumers
1st November 2016 - ClassPass records incremental growth on one year Australian anniversary
23rd September 2016 - KFit exits Australian market
9th June 2016 - KFit acquires Groupon’s Indonesian operations
29th October 2015 - ClassPass launches monthly fitness membership service in Australia
18th September 2015 - ClassPass set to launch in Australia
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