CycleBar Celebrates Opening of First Studio in Australia

Release Date: 10/13/2020

- Debut of Boutique Cycling Brand Down Under Expands Footprint of Parent Company Xponential Fitness to Four Continents -

Australia is "gearing up" for an indoor cycling revolution as CycleBar, the largest indoor cycling brand with over 210 studios worldwide, rides into Perth, Western Australia this week. The new studio, located in Currambine, marks the first to open in Australia, expanding the reach of CycleBar's parent company, boutique fitness curator Xponential Fitness, to four continents and nine countries, which also includes the United States, Canada, Japan, South Korea, Germany, Austria, Singapore and Saudi Arabia.

"Boutique cycling has been one of the hottest fitness trends in America for the past decade, if not longer, and we are excited for CycleBar to be on the forefront of that in Australia," said John Kersh, Chief International Development Officer for Xponential Fitness. "The country's strong demographics and vibrant fitness and wellness scene make it the perfect home for our high-energy, community-driven brand and an ideal market for rapid expansion over the next few years."

Founded in 2004, CycleBar offers a variety of low-impact, high-intensity indoor cycling workouts, which are inclusive of all fitness levels. CycleBar offers a truly immersive, multi-sensory experience in state-of-the-art "CycleTheaters," led by specially trained instructors known as "CycleStars", driven by heart-pumping "CycleBeats" playlists, and tracked using rider-specific "CycleStat" performance metrics.

The expansion of CycleBar in Australia is being driven by a Master Franchise Agreement with husband and wife entrepreneurial team Matt and Candice Gordin, along with Matt's father Bill Gordin from Perth. The Gordins have extensive experience in both the cycling and franchising world, with Matt holding the position of CEO and Candice leading the Finance & Accounting Department for BikeExchange USA, a large marketplace for bicycle products, for close to 6 years. Both have a long history in franchising, with Candice as Operations Manager for Wild Cards & Gifts, a national gift shop franchise, and Matt as Franchisee and General Manager for Bike Force, an Australian bike retailer with 24 franchised locations. Bill Gordin founded Bike Force in 1991 and is also a seasoned competitive cyclist, with a gold medal at the World Masters Championship in 2018.

The agreement with the Gordins will bring at least 45 CycleBar studios to the country over the next several years. Last month, they signed their first official franchise agreement with a local entrepreneur, which will extend CycleBar's reach to New South Wales with three locations in Sydney.

The opening of CycleBar in Perth continues an impressive year of international growth for the Irvine, CA-headquartered Xponential Fitness, bringing the company's reach to nine countries. Studios are currently open in the United States, Canada, Japan, South Korea and as of last month, Saudi Arabia, inside the brand new, state-of-the-art EVOX Clubs in Riyadh. Xponential has also signed deals to open studios in Germany, Austria and Singapore in the coming months.

To learn more about CycleBar and its new studio in Perth, visit www.cyclebar.com.au, and to learn more about Xponential Fitness, visit www.xponential.com.

ABOUT CYCLEBAR:

Founded in 2004, CycleBar is the largest indoor cycling brand by number of studios and offers a variety of low-impact, high-intensity indoor cycling workouts, which are inclusive of all fitness levels. CycleBar offers an immersive, multi-sensory experience in state-of-the-art "CycleTheaters," led by specially trained instructors, enhanced with high-energy "CycleBeats" playlists and tracked using rider-specific "CycleStat" performance metrics. Head-quartered in Irvine, CA, CycleBar is backed by Xponential Fitness, the largest franchisor of boutique fitness brands in the United States. To learn more about the CycleBar franchise opportunity, visit www.cyclebar.com.

ABOUT XPONENTIAL FITNESS:

Founded in 2017 by Anthony Geisler, Xponential Fitness has built and curated a diversified platform of eight disruptive boutique fitness brands spanning across fitness and wellness verticals - including Pilates, indoor cycling, stretch, rowing, dance, running and yoga. Currently, Xponential Fitness' portfolio of brands includes Club Pilates, the nation's largest Pilates brand; CycleBar, the nation's largest indoor cycling brand; StretchLab, a concept offering one-on-one assisted stretching services and group stretch services; Row House, a high-energy, low-impact indoor rowing workout; AKT, a dance-based cardio workout combining toning, interval and circuit training developed by Celebrity Trainer Anna Kaiser; YogaSix, a modern boutique yoga brand; Pure Barre, a total body workout that uses the ballet barre to perform small isometric movements; and most recently, STRIDE, a treadmill-based cardio and strength training concept. Visit www.xponential.com to learn more.

SOURCE CycleBar

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