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Celebrity fitness craze Soulcycle to float on the stock market
July 31st 2015 / 0 comment
The US indoor cycling chain loved by the likes of David Beckham, Oprah and Michelle Obama is going public
Boutique fitness may now be big business but there is one brand in particular that has eclipsed them all. Starting as a 31 bike studio on Manhattan’s Upper West Side in 2006, Soulcycle has gone on to become a household name with 38 indoor cycling studios in seven cities.
Marketing itself as a spiritual experience not just a workout (think candlelight, booming music and a LOT of motivational chat), Soulcycle has successfully created a lifestyle brand with a devoted, cult following of fans. With classes getting booked up in minutes and costing $30 (£19) a pop, it is not surprising they’re making big bucks.
Recording a profit of $25 million last year and with ambitions to add up to 250 more locations across the US, the company have plans to raise up to $100m according to their official filing.