Global fitness leader predicts future-state of industry
CHATTANOOGA, Tenn., June 5, 2024 /PRNewswire/ — Echelon, a global fitness, wellness and sports leader, has acquired ThriveX – a company focused on advanced recovery products, including cold immersion systems, smart hybrid saunas and compression boots.
“In 2017, Echelon Fitness was founded to address an unmet, rising market-need – smart fitness, available across all price points, to consumers looking for a technology-driven omnichannel solution, community, accessibility and convenience. Our investment proved correct as we have soared to become a leading player in the global fitness industry,” said Lou Lentine, CEO Echelon Fitness. “Once again, we are ahead of the trend, understanding that an end-to-end fitness experience requires prevention and recovery. This is an acquisition driven by a rising marketplace opportunity and smart growth values.”
Recovery on the rise
Recovery is just beginning to show its potential. The global fitness equipment market (valued at 10.73 billion in 2020) is expected to grow at a CAGR of 4.1% by 2028. Within that, recovery technologies are only on the rise – from infrared saunas and cryotherapy (projected to grow at a CAGR of 8.4% by 2028) and the advent of recovery trackers and even footwear. And leading organizations from the American College of Sports Medicine (ACSM), the National Strength and Conditioning Association (NSCA), the American Council on Exercise (ACE), the National Academy of Sports Medicine (NASM), and the International Society of Sports Nutrition (ISSN) publicly espouse the benefits of recovery in performance and injury prevention.
Echelon Fitness + ThriveX mission-aligned
ThriveX has a mission to elevate wellness through cutting-edge technology and personalized programs making next-level recovery accessible to the masses alongside a commercial lineup of cold therapy products for gyms, hotels and other facilities. The innovative approach to enhance recovery and overall well-being was developed by a diverse team of athletes, biohackers, and wellness enthusiasts to revolutionize cold therapy and recovery. The company has been the official recovery sponsor of the Hyrox fitness race and Spartan Races, and Virgin Active. The mission and activations closely align with Echelon’s founding mission to make-next level connected fitness accessible to all and unique content partnerships with brand leaders including Rundisney, Pitbull, Anytime Fitness, Advent Health, Sony, Samsung, Workout Anytime, EoS Fitness, The Bay Clubs, Fitness Factory, and more.
The growth of a global-fitness leader
Echelon has focused on driving growth through its smart, aggressive and focused approach to expansion. Key areas of growth have included its full suite-of commercial offerings, new skus such as strength training, to round out the portfolio of hardware from cyclers to rowers, treadmills, smart mirrors and ellipticals, and importantly, investment in a connected-community that provides access to thousands of live and on-demand classes and unique experiences, acting as a seamless connection for at-home and commercial verticals.
This approach has proven successful at a time when other fitness brands have been missing projections and forced to layoff or reduce staff. Echelon continues to push forward with investment into new product development and acquisitions, including this entry into the recovery marketscape.
For more information visit https://echelonfit.com/.
ABOUT ECHELON
Echelon has revolutionized at-home fitness since 2017 with a range of smart exercise equipment and an immersive membership experience. What began as a mission to make healthy living accessible to all has evolved to a thriving, global brand. Echelon empowers everyone to experience the feeling of elation and accomplishment after achieving their fitness goals. Members connect their Echelon smart bikes, strength machines, rowers, treadmills, or fitness mirrors to the Echelon Fit app for access to live and on-demand workout classes filmed at Echelon studios around the world and led by professional instructors. Through the app, members track performance and progress in real-time, compete on the interactive leaderboard and explore more than 2,000 off-equipment workouts, including yoga, meditation, boxing and core strength, to keep them motivated and inspired. For more information about Echelon Fitness go to https://echelonfit.com/.
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SOURCE Echelon Fitness
