WELLNESS BUSINESS TRENDS IN ASIA - thefitsummit.com · and entrepreneurs to develop ‘white label’ tech and “an app to rule them all” (CRM, bookings, payroll, ... REWARD MARKETPLACES:

WELLNESS BUSINESS TRENDS IN ASIA

By

Ross Campbell

Founder and CEO

FIT Summit

www.thefitsummit.com

28 November 2019

ECOSYSTEM INVESTMENTS: 2019 POSITIVE TRENDS

The health, fitness and wellness network in Asia-Pacific. 2

TECHNOLOGY

• CURE.FIT

• MINDBODY

• FITBIT

• PELETON

HOTELS/GYMS

• SIX SENSES

• WILLS

GROUP

• CRUNCH

FITNESS

EQUIPMENT

• LIFE FITNESS

• PRECOR

• MIRROR

• (PELETON)

BOUTIQUES

• THE FIT

COMPANY

• R FITNESS /

RIDE

• BASE

CORP WELLNESS

• CXA GROUP

• SWITCH &

CO

• MINDFI

HOSPITALITY TRENDS & INVESTMENTS


Traditional large hotel groups

launching or buying

wellness/fitness focused

brands (IHG – Even and Six

Senses, Wyndham - Tryp, Hyatt

- Exhale/Miraval, Hilton - Tru)

Growing number of

independent wellness centred

hotels and resorts (COMO,

Fivelements, REVIVO Wellness,

Equinox Hotels, Thanyapura)

Continued demand growth of

wellness tourism and supply

growth of wellness/fitness focused

retreats (W-Retreat, Chosen

Experiences, Classpass Getaways,

SoulCycle Retreats, We Barre

Retreats)

Growing important of

wellbeing in new hotel design

and investment (sustainable

practices/products, renewable

energy, eco-friendly fabrics,

elimination of plastics)

Evolution of traditional real estate

to include more in-room fitness

and wellness (on-demand

streamed fitness, fitness

equipment, i.e Hilton’s “Five Feet

to Fitness” and Peleton & Westin)

Development of partnerships to

add new on-site experiences

to customers (AccorHotels with

Les Mills, Fivelements and Six

Senses with cultural wellness

classes)

INTEGRATED WELLNESS TRENDS & INVESTMENTS


New integrated

health, fitness

and wellness

facilities (LifeHub

in HK,

Octave/Sangha in

China, UFIT Hub in

SG and Xiong’an

City in Hebei,

China)

Growth of co-

habited

ecosystems with

multiple fitness and

wellness services

under one roof

(Core Collective in

SG, Supacity in HK)

+ co-living wellness

(Stage 6 in SG)

Gyms/clubs/spas

adding in

complimentary

wellness services to become more

holistic (physio,

massage, chiro,

performance,

nutrition, genetic

testing, BCA)

Personalised

wellness – growth

of DNA and

genetic testing –now b2b and b2c

mainstream with

fitness, medical and

wellbeing offerings

(Prenetics, AGS,

Imagene Labs)

Personalised wellness

– growth of

boutique offerings – Fatty Acids

(PUFApro), Iron

Levels (The Iron

Suites), Microbiome

(Atlas Biomed) and

Muscle Oxygen

Sensors (Humon)

TECHNOLOGY DEVELOPMENTS AND INVESTMENTS


TECHNOLOGY DEVELOPMENTS AND INVESTMENTS


DIGITALISATION CONTINUES: across Asian boutiques,

big box, spas, resorts and recreation/leisure clubs

(wearables, HRM, smart lockers, digital equipment,

fobs, CRM/booking/payment apps)

THE NEW ‘MINDBODY’: rush by tech cos, operators

and entrepreneurs to develop ‘white label’ tech and

“an app to rule them all” (CRM, bookings, payroll,

payments, content, analysis)

ON-DEMAND, ANYTIME, ANYWHERE: growing

number of companies investing in (i) content [Alo

Moves, Freelatics, Les Mills], (ii) platforms [Sweat,

Cure.fit] and (iii) equipment [Mirror/OliveX,

Pelton/Zwift/SoulCycle/Echelon]

REWARD MARKETPLACES: new investment by insurers

& corp well in gamified, reward-based app market-

places (AIA Vitality, ManulifeMOVE, Pulse by

Prudential, CXA, Strike & Co [Cigna], Rewardz, PUML)

THE AGGREGATORS: DISRUPTORS OR AGGRAVATORS?


Here to stay. And

grow. Moving from

fitness (GF, PT) to

wellness (massage,

chiro) to lifestyle

(beauty, spa,

nutrition, retreats)

experiences

Future as both

data companies

(information)

and market

research firms

(intelligence) –

can predict high

potential

clients/geos

High revenue

potential from

b2b clients and

corporate

wellness dollars

(ClassPass key

players, the birth

of Gympass and

Switch & Co)

ClassPass now

dominates the APAC

marketplace (437

locations in SG, 205

in Bangkok, 245 in

HK, 117 in Jakarta,

100 in Manila, 201 in

KL. In comparison,

1955 in NYC, 1496 in

LA, 1009 in LON)

Indigenous platforms

evolving (Flexible Pass

in MY [100+ gyms],

Wefit.vn in VN [600+

gyms], Fitpass in India

[3500+ gyms]) + new

launch of Gojek &

DOOgether JV

(GoFitness)



Here to stay. And

grow. Moving from

fitness (GF/PT) to

wellness (massage,

chiro) to lifestyle

(beauty, spa,,

nutrition/retreats)

experiences

Future as both

data companies

(information)

and market

research firms

(intelligence) –

can predict high

potential

clients/geos

High revenue

potential from

b2b clients and

corporate

wellness dollars

(ClassPass key

players, the birth

of Gympass and

Switch & Co)

ClassPass now

dominates the APAC

marketplace (437


in Bangkok, 245 in

HK, 117 in Jakarta,


KL. In comparison,

1955 in NYC, 1496 in

LA, 1009 in LON)



in MY [100+ gyms],



[3500+ gyms]) + new

launch of Gojek &

DOOgether JV

(GoFitness)

AGGREGATORS ARE NOT

FITNESS BUSINESS DISRUPTORS



Here to stay. And

grow. Moving from

fitness (GF/PT) to

wellness (massage,

chiro) to lifestyle

(beauty, spa,,

nutrition/retreats)

experiences

Future as both

data companies

(information)

and market

research firms

(intelligence) –

can predict high

potential

clients/geos

High revenue

potential from

b2b clients and

corporate

wellness dollars

(ClassPass key

players, the birth

of Gympass and

Switch & Co)

ClassPass now

dominates the APAC

marketplace (437


in Bangkok, 245 in

HK, 117 in Jakarta,


KL. In comparison,

1955 in NYC, 1496 in

LA, 1009 in LON)



in MY [100+ gyms],



[3500+ gyms]) + new

launch of Gojek &

DOOgether JV

(GoFitness)

AGGREGATORS ARE

LIFESTYLE BUSINESS DISRUPTORS

BIG BOX 2.0 – NEW & IMPROVED (& GROWING)


Reinvesting for

growth in core

geographies – have

capital, stability and

ambition to unlock

new growth (FF in

Thailand, Pure in

HK/China, True in SG,

Elite and CMG in VN)

Portfolio operators

still acquiring new

brands (FLG with

CMG, EW with FIRE)

and launching new

brands (EW with

GoFIT)

Product

diversification with

upgradable premium

products (TF with

TFX) + (FF with F-

Zone) + (Jetts with

Jetts Black)

Further fitness

investment – small

box in big box

concepts, additional

GF concepts/classes,

integrated customer

technology, HRM

Further wellness

investment – sleep

pods, hydromassage,

salt inhalation

chambers, healthy

snack vending

machines (Virgin,

Pure, Elite, TFX)

THE RISE OF THE FRANCHISE IN ASIA


Fitness franchising

now mainstream in

Asia. Where are the

franchise models

for wellness and

lifestyle companies?

Expect new

products and

companies soon.

In many Asian

countries there is a

race for quality real

estate with key

existing players

(Anytime Fitness,

Jetts and now F45)

investing hard and

fast

Several international

franchises have

stalled – challenges

with location,

product, culture,

pricing, Plan B and

lack of

ambition/capital

from master

franchisee

Growth opportunities

pan Asia – large

international

franchises investing

big (9Round,

12Round/UBX, UFC,

Tapout, Snap,

Orangetheory, Gold’s

Gym, Plus Fitness +

Planet Fitness)

Boutique franchises

now looking into

Asia (Body Fit, Fit

Stop, ZADI), across

Asia (Trib3,

FightZone,

WeBarre, Spartans

Boxing) and out

with Asia (Ritual)

NEW INDUSTRY GROWTH – NEW MARKET MAKERS


Real estate developers looking for lifestyle businesses

as anchor tenants – including development of

malls/airports with fitness and wellness hubs

The rising commitments to investing in corporate

wellness – in facilities, experiences, personnel,

allowances and budgets

Mental health, mindfulness and meditation

platforms (Calm, Headspace, Mindfi) and studios

growing in Asia (SPACE 2B in SG, Enhale in HK)

The growing demand for rehab and recovery:

aided manipulation, floatation tanks, infrared,

hydromassage, heat/cold therapy

Well capitalized, mid-sized gyms chains

capitalizing on unsaturated markets (F247 in TH,

GO24 in HK, Space Cycle in Taiwan, UFIT in SG)

Strong boutique brands continuing to invest and

grow (Yoga Movement, WeBarre, Absolute You,

Base, Eletric Studios, H-Kore, R Fitness, Flyproject)

Documents

WELLNESS BUSINESS TRENDS IN ASIA - thefitsummit.com · and entrepreneurs to develop ‘white label’ tech and “an app to rule them all” (CRM, bookings, payroll, ... REWARD MARKETPLACES: