news FitLab raises $15m and plans 500 studios
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PHOTO: TWITTER.COM/BRIAN KIRKBRIDE
PHOTO: FITLAB
ybrid fitness platform FitLab has closed a Series A financing round, bringing total capital raised to more than US$15m. FitLab will use the funding to scale its portfolio of brands, which will see it accelerate the opening of boutique fitness studios, launch new mass-participation events and develop new technologies designed to bridge the gap between at-home and in-club fitness. The company’s brands include McGregor FAST, the combat-focused FitLab’s brands include McGregor FAST by UFC star Conor McGregor
fitness experience by UFC star Conor McGregor; XPT, a high-performance training system from Laird Hamilton and Gabby Reece; and Electric, a sports brand focused on performance eyewear, apparel and accessories. FitLab’s first wave of connected fitness studios will open during 2022, combining fitness tech
We plan to have 500 locations by 2025 and already have deals in place for 250 sites Brian Kirkbride
– such as tracking and performance measuring – with an immersive, in-person training experience. Plans are for 500 locations by 2025 and according to co-founder, Brian Kirkbride, the company already has partnerships in place for 250 locations. More: http://lei.sr/H4X5V_H
Hybrid brand LIT Method targets rapid growth
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PHOTO: LIT METHOD
LIT Method’s business model combines studios with an at-home offer
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Issue 1 2022 ©Cybertrek 2022
ellness operator and fit tech company, LIT Method, (low-intensity training) is ramping up expansion after launching into the franchising market. The company’s hybrid business model now combines studios with an at-home, digital fitness offering based on the proprietary LIT Strength Machine. The low-intensity, low impact workouts are built on the promise of “no running, no jumping and no weights”. Founded by husband-and-wife team, Justin and Taylor Norris, LIT Method opened its first flagship studio in West Hollywood, US in 2017. In May 2020, the company launched the LIT Strength Machine, targeting the at-home market
What we’re doing at LIT has never been done before Michael Abramson
and billed as the “world’s first all-in-one Pilates reformer, water rower and strength trainer”. Michael Abramson, a 20-year industry veteran – most recently chief operating officer and chief revenue officer at Xponential Fitness – is spearheading the brand’s expansion into franchising. Abramson said: “ What we’re doing at LIT has never been done before – no other brand has our hybrid studio and equipment model.” More: http://lei.sr/D4q8s_H
