NEWS
 |
| SoulCycle rides outside the US and plans Canadian expansion |
|
| POSTED 18 Nov 2016 . BY Tom Walker |
|
|
|
|
|
|
SoulCycle currently operates 67 locations in the US
|
|
|
|
|
US-based boutique cycling studio operator SoulCycle will launch its first international site in Toronto, Canada next year.
Due to open in March, the Toronto site is set to be the first of number of studios in Canada, as the company plots its expansion north of the US border.
SoulCycle currently operates 67 locations in the US, with four more set to open by June 2017.
Last year, the rapidly expanding group announced its plans to float on the stock market, outlining a fundraising target of US$100m (€91m, £64m) to fuel its growth.
Founded in 2006 by former real estate broker Elizabeth Cutler and former talent agent Julie Rice, SoulCycle has gained a cult following in the US, enhanced by celebrity fans such as David Beckham and Tom Cruise.
SoulCycle’s business model is based on a premium offering and riders pay around US$34 (€32, £27) for a single class, with no option for monthly unlimited class rates.
In addition to its classes, the company also has a retail clothing line.
In a statement, SoulCycle Melanie Whelan said she saw “tremendous opportunity in the Canadian market”.
|
|
|
|
|
|
|
|
|
|
|
|
SoulCycle announces plans for IPO
POSTED 31 Jul 2015. BY Jak Phillips
Another day, another US fitness IPO. Following the news this week that budget chain
Planet Fitness is to go public, US-based boutique cycling studio operator SoulCycle has
confirmed it too will float on the stock market.
|
|
|
|
|
|
|
|
|
