Fitness First outlines ambitious Asian expansion plan
by Jak Phillips | 29 Apr 2014
Fitness First CEO Andy Cosslett is determined his chain capitalises on the growth potential of the Asian market
Fitness First has announced it will invest more than US$140m (€101m, £83m) over the next five years as it bids to grow its footprint in Asia by around 60 per cent.
At present, there are 88 Fitness First Asia clubs – spread across Hong Kong, Indonesia, Malaysia, the Philippines, Singapore and Thailand – and the chain intends to open a further 50 fitness clubs in the region by 2018, expected to cost US$100m (€72m, £59m).
A further US$42m (€30m, £25m) will be invested in upgrading the existing Asia facilities, in a move that chimes with the company's recently announced global brand makeover. As part of this Asia improvement effort, 4,000 Fitness First staff are currently undergoing specialist training programmes deploying elements of behavioural psychology, sports science and emotional quotient training.
“These bold plans demonstrate how committed Fitness First is to expanding our leadership position in the fast growing Asian fitness market,” said Fitness First Group CEO Andy Cosslett, who was profiled in the March edition of Health Club Management. “Our US$140m investment further builds on our unrivalled network in the region and with new technology, world class clubs and outstanding customer service we will keep pushing the boundaries of fitness.”
The company has identified southeast Asia as a strong opportunity for long-term growth, estimating that less than 5 per cent of the region’s population are currently members of a health and fitness club.
Having grown Asia revenues by 9.8 per cent in the 12 months up to November 2013, Fitness First expects further acceleration in 2014. Eight to 10 new club openings are planned across the region with emphasis on the growth markets of Singapore and Thailand.
Fitness First has announced it will invest more than US$140m (€101m, £83m) over the next five years as it bids to grow its footprint in Asia by around 60 per cent. At present, there are 88 Fitness First Asia clubs – spread across Hong Kong, Indonesia, Malaysia, the Philippines, Singapore and Thailand – and the chain intends to open a further 50 fitness clubs in the region by 2018, expected
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