While sales information is not available, the steady growth and expansion of the company from its start in 1991 to now demonstrates it has had the staying power in the past. In July 2019, Equinox launched Equinox Hotel. Industrious is a shared workspace company. They provided $80 million in the Series D funding round of Industrious in April 2019. In January 2018, Equinox invested in obtaining a minority stake in Rumble Boxing – a women-focused boxing, fitness brand. Spevak secured a significant minority investment from private equity firm L Catterton in 2017. Also in 2011, the company acquired SoulCycle. The company created a separate company called Blink which was focused on the value-driven membership model in 2011. Equinox purchased Pure Yoga in 2008 and operates it as a separate entity. It was at this point that the Errico siblings no longer maintained an ownership interest in the company. Six years later, he partnered with the chairman of Related Company to obtain the controlling, majority interest of the company. In 2000, Spevak led a management buyout of Equinox by two firms, North Castle Partners and J.W. Integrity with members, employees and partners.Personal growth and fulfillment for all.Open, honest & considerate communication.They credit their success to 12 core values: In 2020, they were the Interiors Awards Spa/Fitness winner. Since then, they have been voted best gym in America by Fitness Magazine. Equinox was consistently voted the best fitness club in the city when they started. They invested in personal training by creating the Equinox Training Institute and Certification Program so that the personal training available in their clubs would be the best. Their clubs were cutting edge and the first to have features such as reiki, massage, dance cardio and indoor cycling incorporated all into one place. The Errico family experienced a lot of early success and recognition. They bootstrapped the business’s start and it’s initial growth and didn’t have outside investors. The Errico siblings wanted to combine the clean, bright vibe of dance and aerobic studios with great music and ambiance so that people would want to go after work and hang out with friends. Aesthetics were not valued or incorporated – many large gyms just resembled a dingy, low-lit, low ceilinged basement with mats on the floor. When Equinox first started, gyms were thought of as places where bodybuilders went. Thus they created beautiful gyms in prime locations where clients both exercised and socialized. They wanted to create an alternative to “Happy Hour” after work for the professional New Yorker. Vito Errico was a builder and interior designer. Daniel Errico’s past career had focused on money, investments and real estate. Lavinia Errico had a background in talent management. Sibling co-founders Lavinia, Daniel & Vito Errico started the company in 1991 with a single fitness club in NYC. They are exploring an IPO with a valuation of up to $9 billion. In 2020 when they received an equity round of funding, they were valued at $7 billion.The current chairman and CEO is Harvey Spevak.Is also involved in a lawsuit over unpaid rent in NY in 2020-2021. Settled a lawsuit in 2013 about unpaid overtime for their trainers.In 2020, citing the impact of the global pandemic, the company reported a $350 million loss despite bringing in $650 million in revenue.
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