Interactive Strength Inc. (Nasdaq: TRNR) Secures Global Vendor Status with Industry Leader RSG Group for CLMBR

Rhea-AI Summary

Interactive Strength Inc. (NASDAQ:TRNR), maker of CLMBR and FORME fitness equipment, has secured Global Vendor Status with RSG Group, owner of Gold's Gym, McFit, John Reed, and other brands representing over 900 locations worldwide. This status is expected to drive further penetration of CLMBR into Gold's Gym's 600+ locations globally and open up new markets. The company anticipates accelerated growth in Europe, particularly in Germany, the largest international fitness market, once European certification is obtained. TRNR's CEO, Trent Ward, expressed pride in this recognition and confidence in CLMBR's demand, citing strong interest at FIBO, the world's largest fitness show held in Germany.

Positive

• Secured Global Vendor Status with RSG Group, a major fitness center owner
• Potential for increased sales in over 900 RSG Group locations globally
• Expected acceleration of CLMBR's growth in Europe, particularly Germany
• Strong interest in CLMBR demonstrated at FIBO, the largest fitness show worldwide

Negative

• European certification for CLMBR still pending, potentially limiting immediate European market access

• RSG Group owns Gold's Gym, McFIT, John Reed among other brands

• There are more than 900 locations in the group

AUSTIN, TX / ACCESSWIRE / September 12, 2024 / Interactive Strength Inc. (NASDAQ:TRNR) ("TRNR" or "the Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, today announced that CLMBR has secured Global Vendor Status with RSG Group, owner of Gold's Gym, McFit, John Reed and other brands that represent more than 900 locations.

Trent Ward, Co-Founder and CEO of TRNR, said: "RSG Group is one of the biggest and most innovative fitness center owners in the world and we are very proud of CLMBR's recognition as one of the Global Vendors. While we have had success with selling CLMBR into individual Gold's Gym locations in the US so far, we expect that this acceptance into the global program will drive further penetration in the entire system of more than 600 locations and open up all of the other countries for Gold's Gym."

"Additionally, McFit and John Reed are leading gym chains in Europe that are now able to buy CLMBR as a result of the Global Vendor status and due to the six-figure order from our German distributor that was announced in July," Mr. Ward continued. "We are expecting to see an acceleration in CLMBR'S growth in Europe once we receive the appropriate European certification, which is expected in the near-term. Germany is the largest international fitness market and we are confident of the demand in Germany after the seeing the strong interest in CLMBR at FIBO, the largest fitness show in the world, which was held in Germany this past April."

TRNR Investor Contact

ir@interactivestrength.com

TRNR Media Contact

forme@jacktaylorpr.com

About Interactive Strength Inc.:

Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol: TRNR).

CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout. CLMBR's design is compact and easy to move - making it perfect for commercial or in-home use. With its low impact and ergonomic movement, CLMBR is safe for most ages and levels of ability and can be found at gyms and fitness studios, hotels, and physical therapy facilities, as well as available for consumers at home. www.clmbr.com.

FORME is a digital fitness platform that combines premium smart gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic fitness experience through two connected hardware products: 1) The FORME Studio Lift (fitness mirror and cable-based digital resistance) and 2) The FORME Studio (fitness mirror). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. www.formelife.com.

Forward Looking Statements:

This press release includes certain statements that are "forward-looking statements" for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management's assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as "believe", "project", "expect", "anticipate", "estimate", "intend", "strategy", "future", "opportunity", "plan", "may", "should", "will", "would", "will be", "will continue", "will likely result" or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the possibility of future international orders or demand for CLMBRs with RSG Group or the Company generating revenue from sales of CLMBR or the Company shipping CLMBRs or receiving international certifications for CLMBR in the near-term or at all. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: demand for our products; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand for our products and adequately maintain our inventory; and our reliance on a limited number of suppliers and distributors for our products. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.

SOURCE: Interactive Strength Inc.

View the original press release on accesswire.com

FAQ

What is the significance of TRNR securing Global Vendor Status with RSG Group?

Securing Global Vendor Status with RSG Group allows TRNR's CLMBR product to be sold across RSG's network of over 900 fitness locations worldwide, including Gold's Gym, McFit, and John Reed, potentially increasing sales and market penetration significantly.

How many locations does RSG Group have for potential CLMBR sales?

RSG Group represents more than 900 fitness locations globally, including over 600 Gold's Gym locations, offering a substantial market for CLMBR sales.

What is TRNR's plan for European market expansion?

TRNR expects to accelerate CLMBR's growth in Europe, particularly in Germany, once they receive the appropriate European certification, which is anticipated in the near term.

Where has TRNR's CLMBR product shown strong interest internationally?

CLMBR has shown strong interest at FIBO, the largest fitness show in the world, held in Germany in April, indicating potential demand in the German market, which is the largest international fitness market.