Exclusive: London launch takes ClassPass to new heights
London’s booming boutique fitness scene has led to it becoming the fastest growing market ever for studio subscription service ClassPass, says CEO Payal Kadakia.
Less than two weeks after launching in the UK – on the back of huge success State-side where it was recently valued at more than US$200m (€187m, £136m) – ClassPass boasts a portfolio of over 170 studios in the London area for its members to choose from.
The ClassPass offering is aimed at fitness class fans who want the option of varied workouts – from yoga and barre, to spin and bootcamp – at an affordable price. From an operator-perspective, clubs receive monthly payments for their services from ClassPass, as well as the opportunity to convert new guests into members.
For a special launch price of £79 per month (and £89 thereafter), ClassPass members get unlimited access to studios in its network – although (to protect each site’s business margins and manage footfall) users can only visit the same studio three times a month. Some of the city’s hottest workout haunts have signed up to the initial launch, including 1Rebel, Boom Cycle and Athlete Lab.
“London is a market with huge potential and we feel that the boutique fitness trend is just beginning to take off,” Kadakia told Health Club Management
“In fact, London is our fastest growing market ever. It's been a privilege to work with so many great studios thus far and Londoners seem incredibly hungry to get started and try out as many different workouts as possible.”
Having enjoyed huge popularity in New York through concepts such as SoulCycle, boutique fitness classes are starting to surge through London, with a considerable number of high-end studios having opened in recent years. Heartcore Fitness co-founder Brian Schuring recently told Health Club Management that London’s boutique fitness market is “beginning to come of age,” and the arrival of ClassPass marks another milestone in this journey.
Having attracted US$54m (€50m, £37m) in venture capital funding to date, the expansion of ClassPass into Europe was a natural step and Kadakia hinted that further growth in the UK and Europe may be on the horizon.
“Right now we are focused on expanding our London efforts, but stay tuned for more developments soon,” she added, while acknowledging that conquering London will not be without its challenges.
“There's a lot of ground to cover. It's absolutely critical to us that our members feel that they have access to all the best studios in their area, both at work and at home. To that end we have ensured we have coverage across London's varied neighborhoods.”
To read a feature exploring the growth of boutique fitness studios in London – from the September 2014 edition of Health Club Management – click here.
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