Equinox Group
American luxury fitness company From Wikipedia, the free encyclopedia
Equinox Holdings, Inc. is an American luxury fitness company and health club headquartered in New York City, New York. The company operates more than 300 club facilities in major cities in the United States, as well as in London, Toronto, and Vancouver in Canada.[2]
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Fitness |
| Founded | September 23, 1991 |
| Founders | Danny, Vito and Lavinia Errico |
| Headquarters | , United States |
Key people | Harvey Spevak (chairman) Marc Mastronardi (president) [1] |
| Services | Health club |
| Revenue | US$7.3 billion (2023) |
| Owner | The Related Companies |
Number of employees | 10,000+ (2023) |
| Subsidiaries | Equinox SoulCycle PURE Yoga Blink Fitness Precision Run Equinox Hotels PROJECT by Equinox Equinox Explore Equinox Media |
| Website | www |
Equinox Group also has a digital platform, the Equinox+ App, that provides access to digital classes.[3] Equinox is owned by a group of investors including Harvey Spevak, executive chairman and managing partner, as well as principals of The Related Companies. It operates several lifestyle brands: Equinox, Equinox Hotels, Precision Run, Project by Equinox, Equinox Explore, Equinox Media, Furthermore, Pure Yoga, Blink Fitness, and SoulCycle.
History
Summarize
Perspective
The first Equinox location opened on September 23, 1991 in Manhattan's Upper West Side. It was started by the Errico family—Danny, Vito and Lavinia Errico. In 2000, Spevak led a management buyout of Equinox to two private equity firms, North Castle Partners and J.W. Childs. In 2006, he partnered with Related Chairman principals to acquire a controlling interest in Equinox and secured a significant minority investment from private equity firm L Catterton in 2017.[4][5]
In 2008, Equinox brought Pure Yoga to the United States from Hong Kong. In 2011, Equinox launched Blink, a separate fitness company, and acquired SoulCycle.[6][7] In July 2019, Equinox launched Equinox Hotels in Hudson Yards, Manhattan.[8] In January 2023, Equinox banned gym memberships submitted on New Year's Day, to both praise and criticism.[9][10] The company said the purpose of the ban was to "snub short-term resolutions".[11][12]
Employment practices
A 2019 article in The New York Times reported that trainers often worked long hours, sometimes as many as 80 a week, forcing some to sleep in employee locker rooms or their cars between shifts. Former and current trainers also described intense pressure from the company to recruit and retain clients drawn from the club's members.[13]
The company settled out of court two lawsuits in California in 2013, both related to unpaid overtime for trainers.[13]
Fundraising boycott
Businesses owned by and affiliated with Equinox, primarily Equinox gyms and SoulCycle, faced prominent calls for a boycott and protests. The boycott was first prompted by a widely publicized fundraiser for then-president Donald Trump by Stephen Ross, the founder and principal owner of The Related Companies.[14] Equinox and SoulCycle responded to the boycott and protests by stating it did not endorse the fundraiser and argued Ross was a "passive investor."[15]
Blink Fitness bankruptcy
On August 12, 2024, Blink Fitness filed for Chapter 11 bankruptcy protection, blaming slow sales caused by the COVID-19 pandemic and increased rising costs as part of the decision. The company plans to shutter some its locations and plans to sell itself.[16]
Key people
Harvey Spevak
Harvey Spevak is the Executive Chairman and Managing Partner of Equinox Group.[17] Spevak became the CEO of Equinox Group in 1999.[18][19] In 2000, he led a management buyout of Equinox to two private equity firms, North Castle Partners and J.W. Childs. In 2006, he partnered with Related Principles to acquire and secure a significant minority investment from global consumer-focused private equity firm Catterton in 2017.
Equinox acquired SoulCycle in May 2011.[20]
In 2019, Spevak opened Equinox's 100th club in Hudson Yards, Manhattan, followed by the brand's first hotel, as well as coworking venture Industrious at Equinox, in the same neighborhood.[21]
See also
References
External links
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