 |
|
|
 |
09 Jun 2021
China's Supermonkey health club chain valued at US$1bn
BY
Tom Walker
|
Founded in 2014, Supermonkey has grown rapidly across the country
photo: Supermonkey/Instagram
Chinese health club chain Supermonkey has finalised a series E funding round, valuing the company at nearly US$1bn. The latest round was led by a sub-fund of CICC Capital – the investment platform of China International Capital Corporation.
The company's valuation is the latest sign of the hotting up of the Chinese fitness market, driven by increased wealth among the population's expanding middle class.
Founded in 2014, Supermonkey initially launched as a 24-hour, self-served gym concept in the city of Shenzhen.
It has since grown rapidly, however, and has added group classes to its offer.
It currently operates 150+ sites across China's main urban markets – including Shanghai and Beijing.
Its success has been partly credited to its flexible concept, which offers short-term memberships without long-term contracts.
Consumers can also access group classes and gym facilities on an hourly, pay-as-you-go basis via a mobile app.
The health and fitness sector is growing at a fast pace in China, partly due to the Chinese government's strategic plan to get more people engaged in regular exercise.
The government has set a target for 37 per cent of the adult population to be physically active by 2022, from a base figure of 28 per cent in 2007.
 |
|
|
|
|
|
|
|
|
|
Connect with
World Leisure |
|
|
|
|
|
|
|
|
|
|
|
|
|
| News headlines |
|
|
 |
 |
|
12 May 2024
Planet Fitness has announced the repurchase of 314,000 shares at a rate of US$20 million. The Class A common stocks were repurchased and retired,
.... more>> |
|
|
|
 |
|
11 May 2024
Xponential Fitness today indefinitely suspended founder and CEO, Anthony Geisler, saying it had been notified on 7 May that the company is facing a
.... more>> |
|
|
|
 |
|
10 May 2024
The Ritz-Carlton Reynolds, Lake Oconee in the southeastern US state of Georgia is celebrating a new milestone after unveiling its newly renovated
.... more>> |
|
|
|
 |
|
09 May 2024
Fast Fitness Japan, master franchisee of Anytime Fitness in Japan, has acquired Eighty-8 Health & Fitness, giving the company master franchisee rights
.... more>> |
|
|
|
|
|
 |
|
| Company profile |
|
Les Mills UK
For more than 50 years Les Mills has been leading the way in fitness. We produce 22 group fitness programmes, backed by science, to be experienced in club or at home via Les Mills+
View full profile>> |
|
| Catalogue gallery |
|
|
| Featured Supplier |
|
 |
|
|
|
in this issue
• Virgin gets right to wipe out rent arrears
• Fitness industry mourns passing of Jan Spaticchia
• STA offers mindfulness resources
|
|
|
|
|
|
|
 |
| World Leisure jobs |
 |
Team Leader BSV
Salary: £26,175.00
Location: Basildon
Company: Everyone Active
|
|
|
|
|
|
| Diary dates |
|
| Powered
by leisurediary.com |
 |
|
13-16 May 2024
W3Spa EMEA
Conrad Chia Laguna Sardinia ,
Italy
|
|
|
|
|
