Johnson Health Technology Co. hopes to control 25% of the global market by 2015.
The global market for commercial fitness equipment is currently worth roughly $2 billion per year. In order to reach its target, Johnson's annual revenues will need to grow to more than $500 million.
The fitness maker also plans to invest in further strengthening its brand image. According to Johnson's chairman, K.C. Lo, the company will invest around $4 million to reinforce its marketing channels for brand products in China and set up at least 60 more direct-sales outlets there by the end of 2011, bringing the total to 170.
With over 35 years of experience in the market, Johnson currently has major production bases in Taiwan and mainland China. It also has 17 marketing companies across the globe in countries including the US, the UK, Germany, Brazil, Japan, Malaysia, Hong Kong, and Singapore.
Brazil's fitness market is booming. According to the International Health, Racquet, and Sportsclub Association, the country has more than 18,000 health clubs, second worldwide only to the number in the United States. The Association said that the number has more than doubled in the past few years, now being worth almost $2.2 billion.