Xponential Fitness Signs Master Franchise Agreement in Portugal for Club Pilates
Posted: November 4, 2022 in Chains
Club Pilates
IRVINE, CA – Xponential Fitness, Inc. (NYSE: XPOF) announces it has signed a Master Franchise Agreement in Portugal for its Club Pilates brand. The agreement, signed with Porto-based Mitrinha and Libelinha, Lda., gives the Master Franchisee the opportunity to license a minimum of 20 Club Pilates studios in Portugal over the next 10 years. The Master Franchise partners bring extensive experience scaling globally-recognized consumer retail brands in Portugal.
With six Club Pilates studios currently operating in neighboring Spain and development agreements in place for the UK and Germany, the Portugal deal represents a further extension of Xponential’s reach across Europe. According to data from the International Health, Racquet & Sportsclub Association, the European fitness industry generates more than $30 billion annually, second only to North America, making it a priority region for Xponential’s international expansion. Recent findings from an Allied Market Research report showed that the European Pilates & yoga studios market size is projected to reach $49.4 million by 2027, growing at a CAGR of 13.05% from 2021 to 2027.
“The Portuguese fitness market is vibrant and growing, and Club Pilates is an ideal brand to launch in the market as interest in boutique fitness grows and as our business in Spain accelerates,” said John Kersh, Chief International Development Officer of Xponential Fitness. “We look forward to working with our partners in Portugal as we bring Club Pilates to even more customers across Europe.”
The agreement marks the continued expansion of Xponential Fitness outside North America. The company currently has multiple brands’ studios operating or in development in 16 countries across North America, Europe, Asia, and Australia. Most recently in 2022, Xponential signed master franchise agreements for Club Pilates in Mexico and the U.K., for CycleBar in Japan, and for Club Pilates, StretchLab, CycleBar, and Rumble in Kuwait.
Club Pilates is backed by Xponential Fitness, the largest global franchisor of boutique fitness brands which also include Pure Barre, Rumble, StretchLab, CycleBar, Row House, YogaSix, AKT, Body Fit Training, and STRIDE Fitness.
