We are pleased to announce that Oaktree Capital Management and Navis Capital Partners, owners of Fitness First and Celebrity Fitness respectively, have signed an agreement to merge our two leading fitness brands under a newly formed company,
Evolution Wellness Holdings Pte. Ltd. (Evolution Wellness). Evolution Wellness will wholly-own and operate both the Celebrity Fitness and Fitness First brands in Asia.
In the last fifteen years, Fitness First and Celebrity Fitness have grown to become market leaders, and we are honoured to serve almost 400, 000 members across our combined network of 152 clubs . While both brands will continue to operate as separate entities, we intend to provide all our members with more attractive membership options and choice. As we join forces, we remain fully committed to bringing the very best fitness experiences to our members and to further respond to our members' needs with best-in-class service and innovation.
We will share more information in due course about how members can benefit from a wider club network. In the meantime, if you have any questions, please feel free to speak to your Club Manager or send us an email at firstname.lastname@example.org.
You can read more about the merger in our PRESS RELEASE.
Oaktree Capital Management and Navis Capital Partners, owners of Fitness First and Celebrity Fitness respectively, have entered into a joint venture agreement to form Evolution Wellness Holdings Pte. Ltd. (Evolution Wellness), a new holding company which will wholly-own and operate both the Fitness First and Celebrity Fitness brands, building on an unrivalled network of 152 clubs throughout Asia, and further grow the business through continuous innovation, expansion, and robust strategic governance.
There is a natural logic in bringing together two market-leading brands like Celebrity Fitness and Fitness First together to create the number one fitness club network in Asia. Celebrity Fitness has relative scale in markets where Fitness First does not, and vice versa. Furthermore, the merger enhances long-term stability, resilience and growth opportunities with increased diversity across markets.
No, both brands will continue to operate separately. Both Celebrity Fitness and Fitness First enjoy high brand awareness in the market, and we will continue to build on this.
In the immediate term, it is business as usual; our focus remains on providing great service to all our members and delivering innovative products to help our members on their fitness journey.
A key focus is to build on our service proposition while we develop our strategy to leverage our unique club networks and continue to innovate in order to provide our members with the most attractive membership propositions. We will share more details in due course. Going forward, Evolution Wellness's plans include enhancing member access privileges across the combined network, and building on the current network of 152 clubs throughout Asia with more new locations. Both brands will continue to innovate and develop proprietary group fitness programmes, including the introduction of pay-as-you-go group fitness packages, as well as leveraging technology for an enhanced member experience and convenience.
As for now, it is business as usual. In the coming months, we expect to announce some attractive membership options that leverage the combined Celebrity Fitness and Fitness First network that members can look forward to. We will share more details in due course.
You may speak to your club manager, or email email@example.com.