Xponential Fitness (NYSE: XPOF) reported signing its first Master Franchise Agreement in the UK, With an agreement for Club Pilates across England, Scotland, Wales, and Northern Ireland. The contract allows the master franchisee to grant licences to at least 50 Club Pilates locations during the following ten years. By selling a direct franchise territory for its portfolio brand Body Fit Training in the first quarter of 2022, Xponential Fitness (XPOF) established its presence in the area. In the UK, the first Club Pilates location is anticipated to open in 2023.
Following Master Franchise Agreements in Australia, additional Zealand, Japan, South Korea, Singapore, Dominican Republic, Saudi Arabia, Mexico, Austria, Germany, and Spain, the new studios will expand Club Pilates’ global presence to 12 nations outside of North America. Tuesday’s mid-morning trade saw a 1.59 percent increase in XPOF shares.
Richard Uku, the founder of Deblankson Fitness Group and a Multi-Unit Franchisee of Club Pilates and sister brand, AKT, in the United States, is the person behind the Master Franchise Agreement in the United Kingdom. Currently, he operates six studios in New York and New Jersey. Uku was born and raised in the UK, where he also spent his formative years. He went to college there and began his career in corporate finance in the City of London. When Wall Street called 20 years ago, he relocated to the United States. Ever since he started working with Club Pilates in 2016, he has wanted to bring the brand back to the UK.
According to John Kersh, Chief International Development Officer of Xponential Fitness, Richard Uku is an experienced Club Pilates owner, and we look forward to working with him to launch Club Pilates in the United Kingdom. UK expansion is a key objective for Xponential Fitness, and we know that Richard will sharpen the abilities he’s earned as an owner in the U.S. to bring the transformative powers of Pilates to millions more Britons.
After making its debut in Canada in 2018, Club Pilates has expanded its worldwide reach and now has locations on all four continents, most recently adding Singapore. The company anticipates opening its first studio in Germany in late 2022 in addition to the new arrangement in the UK. The leading global franchisee of boutique fitness brands including Pure Barre, CycleBar, StretchLab, Row House, YogaSix, AKT, Rumble, BFT, and STRIDE, Xponential Fitness, is the supporter of Club Pilates.
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