Xponential Fitness, Inc. signed a Master Franchise Agreement in Kuwait for its brands Rumble, Club Pilates, StretchLab, and CycleBar.
The agreement, signed with Kuwait Real Estate Company, Aqarat, will open a minimum of eight studios early in the initial ten-year term, with additional studios to be developed based on market opportunity.
The Master Franchisee for Xponential in Kuwait is the publicly traded real estate development company, Aqarat, a developer and manager of commercial, residential and hospitality properties in Kuwait, the Middle East, Europe and the U.S. Aqarat also has investments and joint venture agreements with the hospitality brands Yotel, Courtyard by Marriott and IFA Hotels and Resorts.
According to research conducted by the International Health, Racquet & Sportsclub Association, “Kuwait has the fourth largest fitness industry in the Middle East with annual revenue of nearly $240 million (USD). The more than 600 fitness centers are a mix of local, regional and international operators, with boutique fitness early in its lifecycle and poised for growth.”
“We are thrilled to be working with Aqarat to bring our world-class boutique fitness studios to Kuwait”, said John Kersh, chief international development officer, Xponential Fitness. “Aqarat’s extensive real estate and hospitality experience is perfectly suited for our customer-focused brands, and they are well-equipped to deliver our immersive studio experiences to the Kuwaiti population.”
“Fitness in Kuwait is changing and growing fast,” said Saad Al-Muneefi, vice president, Asset Management and Investor Relations, Aqarat. “We at Aquarat are invested in improving the lives of our community and are proud of this partnership with Xponential Fitness to realize our dream of bringing boutique fitness to the people of Kuwait in a very big way.”
The agreement marks the continued expansion of Xponential Fitness outside North America. The company currently has studios across multiple brands operating or in development in 15 countries, including North America, Europe, Asia-Pacific and Australia. In 2022, Xponential signed master franchise agreements for Club Pilates in Mexico and the UK and CycleBar in Japan.
Rumble, StretchLab, Club Pilates, and CycleBar are backed by Xponential Fitness. The franchisor of boutique fitness brands includes Pure Barre, Row House, YogaSix, AKT, BFT, and Stride Fitness.
