Barry's Bootcamp is debuting a new spin concept amid rumors of a sale. (via CNBCMakeIt)
valuation when it filed for an IPO in 2015, according to The Wall Street Journal. It withdrew its filing in 2018.)Gonzalez says he originally had the idea to launch a spin concept back in 2010, four years after Soulcycle launched and a year after Flywheel."We've been kicking around [this idea] for a very, very long time," Gonzalez says.
For years, he says, Barry's customers have been asking for other forms of cardio to help offset injuries . However, Gonzalez says the brand likes to take things slow when building out a new concept. For example, while other brands like OrangeTheory have grown to 1,200 locations since 2010, Barry's sticks to a 20% to 30% growth plan each year. Barry's has more than 70 locations in 14 countries and Gonzalez says there are plans to open 20 more studios in 2020.
However in 2018, Barry's launched Release, a dynamic stretching and mobility class, and debuted Lift, a weight lifting only concept. Barry's also officially dropped "Bootcamp" from its name inThough Gonzalez wouldn't disclose sales numbers he says the new spin studios are not an attempt to "make up for lost revenue.
However, while growth is still strong at the moment, some analysts warn boutique brands could hit a slowdown if a
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