Gym Grp Regulatory News (GYM)

31 March 2020

The Gym Group

Partnership with Fiit enables members to exercise in gym and at home

The Gym Group plc ("the Company" or "TGG"), the nationwide operator of 179 low cost 24/7, no contract gyms, today announces the launch of an exciting new on-demand fitness product for its members.

This landmark partnership in the UK fitness industry, brings together physical and on-demand offerings, combining the highest rated fitness app in the app store* from Fiit Limited ("Fiit") with the UK's best value 24/7 gym. In conjunction with the partnership, which aims to increase the availability of affordable fitness to all, TGG has also made a small investment** in Fiit, in early February this year.

Founded in 2017, Fiit provides a range of interactive fitness classes for people of all levels to enjoy, anytime, from the comfort of their own home. Fiit uses a wearable fitness tracking device to provide the user with live stats on calories, heart rate and reps. It also hosts the UK's only live leaderboard HIIT classes, allowing users to join scheduled classes throughout the day and compete against friends, family and other users. The unique 'Fiit points' system allows people to compete based on effort rather than fitness level, enabling users of all abilities to enjoy the competition together.

In addition to giving its members access to the Fiit product for use at home, TGG will also be trialling virtual classes within custom-built Fiit studios and pods in a small number of its gyms. Studies show that on-demand fitness is complementary to gym membership and makes subscribers more likely to join a gym***.

TGG will be making the app available to all its members for a discounted price, initially £7.99 per month, after a 14-day free trial period. With most of the UK population currently at home due to COVID-19 and looking for new ways to exercise, Fiit offers huge variety, with over 500 classes available, from yoga to HIIT to strength and conditioning, with new classes released every week. Furthermore, they can choose from a range of training plans depending on their fitness goal as well as track their progress over time, using results from the connected fitness tracker.

This strategic partnership will support both businesses in providing members with a multi-channel fitness experience, allowing them to exercise on their terms, however they want, whenever they want.

Richard Darwin, CEO of The Gym Group commented:

''The launch of this innovative new product enhances and delivers a best in class fitness offer for our members. Even before the outbreak of COVID-19 we had recognised the unique service that Fiit provides, both at home and in our gyms. We look forward to a fruitful and long-term partnership.''

Daniel Shellard, CEO and Co-Founder of Fiit Limited commented:

''As part of our mission to make fitness a habit for everybody, partnering with the UK's leading low-cost gym operator made perfect sense. It will allow us to bring our excellent fitness instructors and addictive workouts to The Gym Group's large membership base. We developed Fiit to provide a unique, low-cost, on demand offer and this partnership and investment from The Gym Group will give us the platform for further rapid growth.''

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*Apple App Store as at 25/03/2020

**Investment total: £1million

***Data from L.E.K. Digital Health and Consumer Survey (November 2018)