As the boutique fitness sector starts to buckle, Barry\u2019s Bootcamp on Monday announced new investment from Princeton Equity Group.<\/p>\n
\u201cThe reason why this [boutique fitness] works for Barry\u2019s is that our positioning in the marketplace is premium,\u201d said Joey Gonzalez, Barry\u2019s co-CEO, in an interview with CNBC. \u201cWe always want to minimize risks to any sort of brand dilution, and we only ever want to elevate the Barry\u2019s experience.\u201d<\/p>\n
Gonzalez said this funding round will be focused on investing in client experience and brand positioning in a highly saturated industry. Barry\u2019s offers high-intensity running, lifting and training classes in its trademark red-lit rooms.<\/p>\n
Barry\u2019s has 89 studios globally that saw more than 7 million visits in 2024.<\/p>\n
Princeton is a franchisor and consumer services-focused private equity firm with $1.2 billion in assets under management. It has invested in other wellness brands such as spa chain Massage Envy and athletic training facility D1 Training.<\/p>\n
The size of the investment was not disclosed.<\/p>\n
The fresh capital for Barry\u2019s adds to a list of private equity investments dating back nearly two decades from firms including LightBay Capital and North Castle Partners.<\/p>\n
Gonzalez said Barry\u2019s will use the investment in part to fund expansion in 12 U.S. cities this year, including Charleston, South Carolina; Hoboken, New Jersey; and Salt Lake City, as well as locations in Madrid, Athens and Dublin.<\/p>\n
\u2033[This partnership] is enabling us to consolidate our operations in the UK and Canada,\u201d Gonzalez said. \u201cWe will now be overseeing operations in these countries where we can foster a closely knit community and create efficiencies.\u201d<\/p>\n
The broader global boutique fitness studio market was valued at nearly $48 billion in 2023 and is expected to grow to $86 billion in 2030, according to estimates from Research and Markets. Still, several high-profile brands have struggled to grow their customer base.<\/p>\n
Xponential Fitness, a franchisor of health and wellness brands, divested from two struggling boutique chains \u2014 Stride Fitness and Row House \u2014 last year.<\/p>\n
Jefferies analyst Randal Konik cited industry headwinds including macroeconomic concerns that could cause a pullback in consumer spending, and said fitness has proven to be more need-based with more people prioritizing health and wellness.<\/p>\n
\u201cTailwinds will be the focus on health and wellness coming out of Covid,\u201d Konik said, \u201cas well as a move towards strength training, [which] has lifted demand for all types of fitness classes and gym membership.\u201d<\/p>\n
Piper Sandler analyst Korinne Wolfmeyer cited \u201cuncertainty around unit growth\u201d at Xponential as one of the main reasons to stay on the sidelines of the stock.<\/p>\n
Gonzalez said his company is bucking the trend.<\/p>\n
\u201cI think of Barry\u2019s as one of the originals, and a very back-to-basics approach to fitness with efficacy at the heart,\u201d said Gonzalez. \u201cWhat Barry\u2019s has really done is stick to our core competency: fitness experience, immersive experience, member experience.\u201d<\/p>\n<\/p>\n
As the boutique fitness sector starts to buckle, Barry\u2019s Bootcamp on Monday announced new investment from Princeton Equity Group. \u201cThe reason why this [boutique fitness] works for Barry\u2019s is that our positioning in the marketplace is premium,\u201d said Joey Gonzalez, Barry\u2019s co-CEO, in an interview with CNBC. \u201cWe always want to minimize risks to any […]<\/p>\n","protected":false},"author":0,"featured_media":13920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-13919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/13919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=13919"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/13919\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/13920"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=13919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=13919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=13919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}