The people behind MoveRepeat, the fitness company that owns Yoga Movement and Strong Pilates Singapore, discuss how people’s willingness to pay for fitness has changed from looking for a high price tag to looking for relaxation and quiet time. I’ll tell you what I did.
Globally, the health and fitness market is expected to grow 7.7% annually from 2020 to 2024, with revenue of $96.6 billion in 2024, according to Statista’s 2021 report.
This trend is also reflected in Singapore, where the number of people using or signing up for gym memberships is increasing. In May 2022, the Sport Singapore Statutory Board highlighted: strait times, According to a national daily newspaper, the number of people using the company’s ActiveSG gym increased by 6% compared to 2019. Additionally, the number of people participating in activities such as Zumba and yoga with the company’s ActiveSG Sport has increased by 16% with centers set up across the island.
Statista also recorded a similar increase in gym attendance from 2019 to 2023, excluding the drop in 2020 due to the COVID-19 pandemic. In 2023, gym attendance in Singapore will exceed 4 million, an increase of 38% from 2.9 million in 2019.
Read more: Balancing act: After building a yoga studio empire in Singapore, Alicia Pang turns to Pilates
Yoga Movement, a yoga studio founded in Singapore, has been redefining the practice of yoga by combining elements of well-being and fitness since opening in 2012. She has also launched an academy to train new yoga teachers.
The franchise partnership with Australia’s Strong Pilates expands with 10 studios, followed by Yoga Movement co-founders Alicia Pan and Peter Xu, founders of Park Hotel Group in 2023. In partnership with Allen Law, we created a new parent company, Move Repeat. Their goal is to create more workout experiences across Asia.
The trio will share more insights about their new company, how their fitness philosophy influences their leadership style, and the trends and innovations shaping the Asian market.
