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Gym Group brings in Wais Shaifta and Rio Ferdinand as non-execs and eyes expansion
15 Jan 2021 . BY Tom Walker
Rio Ferdinand has become a non-executive director for The Gym Group / Shutterstock/Stefan Constantin 22
I've been impressed at how The Gym Group is breaking down barriers to fitness and I look forward to contributing as a director to the next stage of growth
– Rio Ferdinand
The Gym Group has brought in Rio Ferdinand and Wais Shaifta as non-executive directors, signalling a broadening of its remit, new horizons and an intention to continue to refine and expand its member offering.

Shaifta is currently CEO at Europe-wide digital healthcare company, Push Doctor, which works in partnership with the NHS to connect patients with clinicians. He was previously director of global operations at online beauty marketplace, Treatwell (formerly Wahanda), and prior to that spent six years at Just Eat, where he was responsible for group operations strategy.

His appointment will strengthen the board in developing its health- and wellness-related services, as well as its secondary spend operations, while his global experience would help the company in delivering international expansion – an option which is thought to be on the cards.

Footballing legend, Rio Ferdinand, has built a business career in broadcasting, charity and champions areas such as social housing and youth development.

Through the Rio Ferdinand Foundation, he works collaboratively with young people and communities to deliver 'progression pathways' aimed at ensuring young people are socially mobile and empowered to be independent.

An author and filmmaker, Ferdinand is a passionate advocate for fitness, mental health and wellbeing and diversity.

The Gym Group announced the appointments alongside the release of its pre-close trading update for the year to 31 December today. The company said it cut its monthly cash burn to around £5m during the January lockdown – down from £6m during the November shutdown – thanks partly to it utilising grant support recently announced by the government.

The budget chain says it lost 45 per cent of its trading days during 2020, which resulted in total revenue falling by nearly half to £80.5m, down from £153.1m in 2019.

During 2020, the group lost more than 200,000 members, with total year-end membership across its 184 sites standing at 578,000 – down from 794,000 in December 2019, with 20 per cent of those being students, due to disruptions in the academic year.

The take-up of LIVE IT – its premium pricing product – has grown strongly and now has a penetration of 22.5 per cent of total membership (up from 18.9 per cent in December 2019).

The group is also looking for further expansion opportunities, after opening eight new sites during 2020. It is already on-site for three new openings – in York, Sydenham and Cambridge – and is planning more.

"We continue to see an opportunity to access excellent new sites at attractive rents," said Richard Darwin, The Gym Group CEO.

"We are building a strong pipeline for 2021 and beyond and we will continue to progress new leases during this current period of lockdown. We will determine the timing of the rollout programme once there is greater visibility about a reopening date for gyms."

Commenting on the overall picture and the state of the industry, Darwin added: “2020 has been a challenging year for our business, our members and our colleagues.

"Through the outstanding work of our team we provided a COVID-secure exercise environment for our members and demonstrated the resilience of our business model by trading profitably when gyms have been open.

"Our cash management during the pandemic has ensured we ended 2020 with manageable levels of debt and significant liquidity,” he said.

The group has now begun talks with lenders over reviewing covenant tests, relating to its £100m bank facility.

"At a time when health and fitness has never been more important to the nation, we are ready to emerge from the pandemic and take advantage of the many opportunities available us,” said Darwin.

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Jobs   News   Products   Magazine
PRODUCT NEWS
Gym Group brings in Wais Shaifta and Rio Ferdinand as non-execs and eyes expansion
15 Jan 2021 . BY Tom Walker
Rio Ferdinand has become a non-executive director for The Gym Group / Shutterstock/Stefan Constantin 22
I've been impressed at how The Gym Group is breaking down barriers to fitness and I look forward to contributing as a director to the next stage of growth
– Rio Ferdinand
The Gym Group has brought in Rio Ferdinand and Wais Shaifta as non-executive directors, signalling a broadening of its remit, new horizons and an intention to continue to refine and expand its member offering.

Shaifta is currently CEO at Europe-wide digital healthcare company, Push Doctor, which works in partnership with the NHS to connect patients with clinicians. He was previously director of global operations at online beauty marketplace, Treatwell (formerly Wahanda), and prior to that spent six years at Just Eat, where he was responsible for group operations strategy.

His appointment will strengthen the board in developing its health- and wellness-related services, as well as its secondary spend operations, while his global experience would help the company in delivering international expansion – an option which is thought to be on the cards.

Footballing legend, Rio Ferdinand, has built a business career in broadcasting, charity and champions areas such as social housing and youth development.

Through the Rio Ferdinand Foundation, he works collaboratively with young people and communities to deliver 'progression pathways' aimed at ensuring young people are socially mobile and empowered to be independent.

An author and filmmaker, Ferdinand is a passionate advocate for fitness, mental health and wellbeing and diversity.

The Gym Group announced the appointments alongside the release of its pre-close trading update for the year to 31 December today. The company said it cut its monthly cash burn to around £5m during the January lockdown – down from £6m during the November shutdown – thanks partly to it utilising grant support recently announced by the government.

The budget chain says it lost 45 per cent of its trading days during 2020, which resulted in total revenue falling by nearly half to £80.5m, down from £153.1m in 2019.

During 2020, the group lost more than 200,000 members, with total year-end membership across its 184 sites standing at 578,000 – down from 794,000 in December 2019, with 20 per cent of those being students, due to disruptions in the academic year.

The take-up of LIVE IT – its premium pricing product – has grown strongly and now has a penetration of 22.5 per cent of total membership (up from 18.9 per cent in December 2019).

The group is also looking for further expansion opportunities, after opening eight new sites during 2020. It is already on-site for three new openings – in York, Sydenham and Cambridge – and is planning more.

"We continue to see an opportunity to access excellent new sites at attractive rents," said Richard Darwin, The Gym Group CEO.

"We are building a strong pipeline for 2021 and beyond and we will continue to progress new leases during this current period of lockdown. We will determine the timing of the rollout programme once there is greater visibility about a reopening date for gyms."

Commenting on the overall picture and the state of the industry, Darwin added: “2020 has been a challenging year for our business, our members and our colleagues.

"Through the outstanding work of our team we provided a COVID-secure exercise environment for our members and demonstrated the resilience of our business model by trading profitably when gyms have been open.

"Our cash management during the pandemic has ensured we ended 2020 with manageable levels of debt and significant liquidity,” he said.

The group has now begun talks with lenders over reviewing covenant tests, relating to its £100m bank facility.

"At a time when health and fitness has never been more important to the nation, we are ready to emerge from the pandemic and take advantage of the many opportunities available us,” said Darwin.

PRODUCT NEWS
Engaging smart technology helps gyms and fitness professionals get their leading role back
Safety, quality of service, and member engagement are key in order to offer a unique fitness experience that will boost the re-start.
Core Health & Fitness announce partnership with Oss Fitness in Spain
Core Health & Fitness is pleased to announce it’s signed an exclusive agreement with Oss Fitness for the distribution of its brands in the commercial and residential markets across Spain.
Warriors announce new official supplier agreement with Power Plate UK
As an integral part of the first team's training programme, Power Plate is supporting the Worcester Warriors with access to its full range of vibration training equipment, in order to help the club with performance gains, recovery and the rehabilitation of players.
Bounce back faster with a new risk-free joiner channel
The industry is eagerly awaiting the reopening of health clubs and leisure centres in another year affected by COVID-19, where the only thing that’s been certain is uncertainty.
Precor supports Aneurin Leisure Trust in three-site refurbishment
Welsh leisure trust, Aneurin Leisure (ALT), has announced it’s forging ahead with a £600,000 (US$821,000, €696,000) gym refurbishment in all three of its leisure centres.
Physical Company partners with Athletic Thinking to empower more people to become their best selves
Leading fitness supplier Physical Company and Athletic Thinking – an organisation whose deep expertise in elite sport is now harnessed to move individuals, schools and businesses towards peak performance – have entered into a new partnership.
Core Health & Fitness expands Nautilus Leverage product line
Strength training has purpose and appeals to members of all ages and backgrounds, regardless of specific fitness goals.
How Gympass reinvented wellbeing
Over the last year, fitness and wellness organisations have faced challenges like never before. When gyms closed and members needed alternative support to keep up their health and wellbeing routines, Gympass swiftly pivoted its business model to offer a wealth of digital solutions for its partners.
Indigo Fitness partners with human performance specialist to launch bespoke corporate fitness services to improve staff mental and physical health
As the government looks into ways to stem the rising tide of health problems caused by physical inactivity, a sports performance specialist has launched a service aimed at helping improve the nation’s wellbeing while boosting business performance.
Strengthening your mind...one work out at a time
There’s nothing quite like discovering a product that creates a huge impact in our life. After all, isn’t that what we’re all searching for?
InBody UK announced as new NHS supply chain provider
With the current pandemic and the nation becoming more focused on their own health, InBody is proud to announce it’s achieved approval to offer its medically graded body composition analysis products through the NHS supply chain.
Safe Space appointed official SUITMATE distributor for Great Britain
Safe Space, supplier of lockers and changing room solutions to the fitness and leisure industry, has been named official distributor for SUITMATE, the swimsuit water extractor.
+ More products   
 
COMPANY PROFILES
Technogym

Technogym provides a complete range of best-in-class cardiovascular, strength and functional equip [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

VIDEO GALLERY

Technogym - Mywellness App 5.0
Mywellness helps you assess customer needs, provide great workouts and programmes, guarantee a training spot on the gym floor, offer group training, track indoor and outdoor workouts - even with 3rd party apps. Find out more...
+ More videos  

DIRECTORY
+ More directory  
DIARY

 

04 May 2021

We Work Well North America

Virtual, United States
05-07 May 2021

TEA SATE Europe 2020

PortAventura World, Tarragona, Spain
+ More diary  
 


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©Cybertrek 2021

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