EasyGym announces UK launch
The UK low-cost gym sector now has a recognisable household brand name with easyGym announcing the opening of their first club in 2011. The commercial arrangement involves Fore Fitness, lead by Paul Lorimer-Wing, securing the rights to trade under the easyGym brand name in the UK and several unspecified countries.
Paul Lorimer-Wing, Joint CEO of easyGym, had this to say:
“Sir Stelios has developed ‘easy’, Europe’s leading value brand. Securing the rights to use the ‘easyGym’ brand in the gym market is a significant achievement for Fore Fitness. The partnership offers an exciting platform for the business which is very much in line with our plan to deliver a fun, affordable, fitness and health driven product to consumers who are looking for something fresh and different, at a
price reflecting great value.”
Paul has always been clear that securing the easyGym brand was a pivotal part of their entry strategy. Consumers recognise the brand and may have experienced an ‘easy’ product given its reach across more than twelve industries. Where the brand really starts to deliver commercial value is when consumers have the choice of several low-cost gyms in their catchment, all at a similar price-point. This assumes, of course, that the service experience between alternative clubs is also similar, along with the on and offline opinions of members.
I caught up with Paul earlier this week who confirmed that announcements over further members of the senior management team will be made shortly. I am especially interested to discover the name of the Operations Director. When launching a disruptive health club proposition, do you go with an individual with a traditional club industry background, or opt for an ‘industry outsider’ who brings fresh thinking to the new business?
Paul has agreed to an interview later this year, when we can announce details for the first club, membership pricing, and new team appointments.
About Fore Fitness
Fore Fitness Limited is the offshoot of Fore Capital Partners (FORE), an entrepreneurial venture capital firm. FORE focuses on identifying investment opportunities in growing markets, raising deal specific equity and managing teams to deliver shareholder value.
The easyGroup is the private investment vehicle of Stelios Haji-Ioannou, the serial entrepreneur. The easyGroup is the owner of the easy brand and licenses it to all of the easy branded businesses.
The easy brand currently operates more than a dozen industries mainly in travel, leisure, hotel and office accommodation.