Interactive Strength Inc. (NASDAQ:TRNR) Wins New Customer for CLMBR with Fast-growing 60 Location Chuze Fitness
Rhea-AI Summary
Interactive Strength Inc. (NASDAQ:TRNR), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, has announced a new customer win for CLMBR with the fast-growing Chuze Fitness chain. Chuze Fitness, which has expanded from 44 to 60 locations in the past two years, has ordered multiple CLMBRs for installation in four pilot locations.
The CLMBRs will be featured in Chuze Fitness's Fit Lab, a premium smaller group training concept within their larger fitness spaces. TRNR's CEO, Trent Ward, expressed optimism about potential growth across Chuze's 60 existing locations, based on CLMBR's success in other health club chains.
CLMBR's compact design and efficient, full-body workout make it versatile for various fitness settings, including premium spaces, cardio floors, and group fitness rooms. This partnership highlights CLMBR's adaptability and potential for expansion in the health club market.
Positive
- New customer acquisition with fast-growing Chuze Fitness chain
- Initial order for multiple CLMBRs in four pilot locations
- Potential for expansion to 60 Chuze Fitness locations
- Versatility of CLMBR for various fitness settings demonstrated
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, TRNR gained 1.87%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
CLMBR is being featured in Chuze Fitness's Fit Lab, its premium smaller group training concept located inside Chuze Fitness locations
Chuze Fitness is expected to install multiple CLMBRs in each of four locations during the fourth quarter and there is potential for installations in 60 locations
Chuze Fitness is growing quickly, having increased its locations from 44 to 60 in the past two years
AUSTIN, TX / ACCESSWIRE / October 10, 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 Chuze Fitness has ordered multiple CLMBRs to install in four pilot locations out of the brand's 60 total locations.
Trent Ward, Co-Founder and CEO of TRNR, said: "Chuze is one of the fastest growing health club chains in the US, having grown from 44 locations to 60 locations over the past two years. We are honored that they have selected CLMBR to be installed in Fit Lab, their premium, smaller group training concept located in the larger Chuze Fitness space. Based on the CLMBR usage we have seen in other health club chains, we expect that the Chuze Fitness customer will love CLMBR as well and that we will grow quickly across Chuze's 60 existing locations."
CLMBR's small footprint and efficient and safe full body workout makes it a great option for many different use cases. Chuze Fitness is adding CLMBRs to a premium space within a space for their most dedicated members. Other health club chains are adding CLMBRs to the cardio floor and are often replacing elliptical machines to make room for the new equipment. Additionally, some health club chains have started to pilot group fitness solutions where 10 or 15 CLMBRs are grouped together in a room previously used for spin classes.
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About Chuze Fitness:
Chuze Fitness, a family-owned health club chain whose mission is to build healthier communities through human connections and kindness, has been committed to bringing hospitality and an amazing value proposition to the fitness industry for over 15 years. This commitment, as well as its "less attitude, more fitness" mentality, is one of the many reasons Chuze has experienced unprecedented growth in recent years in both memberships and locations. Chuze has 60 existing locations in California, Arizona, Colorado, New Mexico, Texas, Florida and Georgia and is continuing to expand its "affordable fitness for all" initiative across the U.S. With memberships starting as low as
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 Chuze Fitness ordering or installing CLMBRs beyond the initial order, or that the initial order will be followed through to generated revenue for the Company from the sales of CLMBRs, or that Chuze Fitness will continue to grow quickly, or that their members will enjoy using CLMBR. 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 new customer win announced by Interactive Strength Inc. (NASDAQ:TRNR)?
How many CLMBR units has Chuze Fitness ordered from TRNR?
Where will the CLMBRs be featured in Chuze Fitness locations?
What is the growth rate of Chuze Fitness mentioned in the TRNR announcement?
