20 Aug 2018
Space Cycle plans Chinese expansion with 50 new sites
BY Tom Walker
Boutique studio operator Space Cycle has revealed plans to conquer the Chinese fitness market with 50 new openings over the next five years.
The company, founded by music mogul Matthew Allison in 2015, currently operates six clubs in Beijing, Shanghai and Taipei (Taiwan).
The expansion will be partly funded by a RMB100m (US$14.6m, €12.6m, £11.3m) Series B funding round – led by Alibaba Taiwan Entrepreneurs Fund II and managed by WI Harper Group – which the firm secured in January this year.
Space Cycle is based on offering small group exercise classes across a number of disciplines, including indoor cycling, yoga, barre and dance.
Speaking exclusively to Health Club Management, Allison – a former president of Sony Music in north Asia and CEO of Asia Pacific EMI – said music plays a huge part in the company ethos.
"I want to build a social lifestyle brand that combines music and wellness to create something that inspires people," he said.
"I want to change the way people think of working out, so it’s like going to a club or a concert.
"We design all our own music and visual effects in-house. We have DJs in each city where our studios are and also use video mapping with technology that allows everything to be controlled by the teacher through a smartphone.
"Most of our classes are designed to burn 400 calories in 45 minutes to an hour, so they’re highly beneficial, but also taught in a deeply inspirational way.
"We’re aiming to open up to 50 more studios over the next five years."
Earlier this year, Space Cycle entered into a long-term strategic partnership with development and management firm GOCO Hospitality as part of the expansion plans.
To read the full interview with Allison, click here for Health Club Management August issue.
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