Agreement with Sunpark Co. Ltd. Marks Xponential’s Sixth and Seventh Brands in Japan
IRVINE, Calif., January 02, 2024--(BUSINESS WIRE)--Xponential Fitness, Inc. (NYSE: XPOF) announced today it has signed a Master Franchise Agreement in Japan for Pure Barre and YogaSix with Sunpark Co. Ltd., their current Master Franchisee for StretchLab. Sunpark has committed to open a minimum of 50 Pure Barre and Yoga Six franchised studios in Japan. This deal brings Xponential’s brand count in Japan to seven, the largest count of brands outside of North America, following previous agreements for Club Pilates, CycleBar, Rumble, AKT, and StretchLab.
The Master Franchise Agreement with Sunpark follows their recent launch of StretchLab, with their first location opening in Tokyo in July 2023. Sunpark is a multi-brand operator and global franchisor of more than 100 restaurants, entertainment concepts, and fitness centers in Japan, Singapore, Thailand and the United States, Sunpark has significant real estate and development experience which is expected to greatly benefit the growth of the Xponential Fitness brands.
"Xponential looks forward to continued strong growth in Japan with the planned 2024 launch of Pure Barre and YogaSix with our valued Master Franchisee Sunpark Co. Ltd.," said John Kersh, Chief International Development Officer of Xponential Fitness. "Sunpark’s track record of expansion in Japan and Asia with multiple restaurant brands blends well with Xponential’s extensive experience in boutique fitness. We are excited to expand into a new, multi-brand relationship with Sunpark."
Sunpark is led by founder and CEO Ken Takagi, a respected entrepreneur who has now set his sights on the wellness space. "The fitness and wellness sector is still in its infancy in Japan," says Takagi. "We believe the time is right to build on our successful launch of StretchLab by introducing Pure Barre and YogaSix to the market and continue tapping into the strong consumer demand for health, wellness and fitness."
The agreement marks the first expansion of Pure Barre into Asia and the continued expansion of Xponential Fitness brands globally. The company now has eight of its brands’ studios operating or in development in 23 countries across North America, Europe, Asia, the Middle East, and Australia. Specifically for YogaSix, Xponential signed their first international agreement for YogaSix earlier this year, for Germany with their existing Master Franchisee of Club Pilates in Germany. The brand has almost 200 studios open globally and Pure Barre has 640+ studios open globally.
Read the full announcement here.