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China's Supermonkey health club chain valued at US$1bn
POSTED 09 Jun 2021 . BY Tom Walker
Founded in 2014, Supermonkey has grown rapidly across the country Credit: Supermonkey/Instagram
Chinese health club chain Supermonkey has finalised a series E funding round
The deal values the company at nearly US$1bn
The company's valuation is the latest sign of the hotting up of the Chinese fitness market
The government has set a target of 37 per cent if the Chinese population to be physically active by 2022
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.
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Jobs   News   Products   Magazine
NEWS
China's Supermonkey health club chain valued at US$1bn
POSTED 09 Jun 2021 . BY Tom Walker
Founded in 2014, Supermonkey has grown rapidly across the country Credit: Supermonkey/Instagram
Chinese health club chain Supermonkey has finalised a series E funding round
The deal values the company at nearly US$1bn
The company's valuation is the latest sign of the hotting up of the Chinese fitness market
The government has set a target of 37 per cent if the Chinese population to be physically active by 2022
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.
RELATED STORIES
New revenue streams: Keith Burnet shares learnings from fitness operators in China


In a new webinar, Keith Burnet, CEO of global markets at Les Mills, has given insights into how health and fitness operators in China responded to the coronavirus lockdown.
Space Cycle plans Chinese expansion with 50 new sites


Boutique studio operator Space Cycle has revealed plans to conquer the Chinese fitness market with 50 new openings over the next five years.
Chinese fitness sector reports growth


The first-ever Asian Fitness Education Expo (AFEEX), held in Hong Kong on March 29-30, brought together 300 delegates from Hong Kong, China, Taiwan, Macau, India, Brazil and France.
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European health club revenues fell by a third in 2020
The number of active memberships across European health clubs fell by roughly 10 million – or 15.4 per cent – during 2020, a year defined by the pandemic.
Peloton launches Corporate Wellness platform
Peloton is expanding its reach within the online fitness market with the launch of a new Corporate Wellness platform.
Calories don't count – but the way a body absorbs them does
Dr Giles Yeo, a geneticist at Cambridge University in the UK, has written a new book in which he makes the case that the current approach to understanding calories is "entirely wrong".
Memberships for new virtual personal training app, Wrkout, 'sell out in a day'
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Feel better for longer with Power Plate
Aligning fitness and healthcare as part of the wider health and wellbeing needs of the ageing population has never been more important. [more...]

INEOS: The future of hand-sanitising
As gyms begin to reopen, cleanliness and hygiene remain an essential part of ensuring staff and members are confident to return. [more...]
+ More featured suppliers  
COMPANY PROFILES
Xn Leisure Systems Ltd

Xn Leisure is a provider of cutting-edge health and fitness software, offering an exceptional servic [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

VIDEO GALLERY

MyZone Group Ltd - A new Zone is here
A new zone is here for your club, for your members and for you. Find out more...
+ More videos  

DIRECTORY
+ More directory  
DIARY

 

21-23 Jun 2021

World Spa & Wellness Asia Online Conference

Online,
24-24 Jun 2021

Post Covid Recovery Conference

Vrtual,
+ More diary  
 


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Tel: +44 (0)1462 431385

©Cybertrek 2021

ABOUT LEISURE MEDIA
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