8/8/2023 0 Comments Upcoming equinox locations![]() ![]() Men’s is still a huge opportunity, and we really want to become a destination for that customer. “Women’s is so saturated - they make it so easy for us to find beautiful things and buy them. “There’s still a lot we want to do, especially around men’s apparel,” Walters said. Walters said there are still a lot of product categories she wants to explore with her team. It enlisted its own in-house design team, which Equinox also did for the EQX collection that launched with the shop. In many ways, Equinox’s evolution is comparable to that if its sister brand Soulcycle, which began making apparel and e-commerce a bigger part of the business last year. She also said she’s been creating digital lookbooks featuring instructors and sending them to members via email to build up awareness for the new store, which she said led to a big spike in digital engagement ahead of the launch. Walters said the team is strongly leaning on its instructors for marketing purposes and is currently looking into ways to let customers shop an instructor’s outfit after taking a class. It’s expected to reach $574 billion globally by 2024. Activewear has exploded in popularity since the pandemic began and has been one of the fastest growing categories globally since March, according to the NPD Group. Equinox declined to give specific revenue figures. But with gyms closed for so long, that number is way down. Pre-pandemic, Equinox had about 350,000 members spending a “ blended average” of about $3,500 per year, between membership dues (starting at $2,200 per year) and retail purchases, adding up to well over $1 billion in revenue each year. Our shops only average around 300-500 square feet, so there’s not a ton of free real estate to take up with untested brands.” “This lets us test on a larger scale to see where the appetite is. “Usually, when bringing in a new brand, we test it in 20 locations,” said Walters. If a brand sells really well in New York but not so well on the West Coast, Equinox can stock the brand in East Coast locations only. Additionally, e-commerce data can help with merchandising. If a brand starts to sell online really well, meaning that its sales outweigh the costs for stocking it in brick-and-mortar with margins to spare, the Equinox team will work to bring it in-store. Stocking a brand online, however, is a lower barrier to entry. ![]() Committing to stocking a brand in every single gym takes a lot of inventory and a lot of risk, especially since products are bought on a standard wholesale model. Equinox has 105 clubs across the country, including 35 in New York City alone, all of which have retail stores within them. Notably, Walters said that she’s looking at e-commerce both as a revenue driver and an incubator for testing those new brands. Every brand participating in The Shop was a brand Equinox already sold in-store, and Walters said Equinox is looking to add new brands soon. Right in the prime of the Sunset Strip.ĥ.) Irvine: Large location (at 120,000 sf) with outdoor pool and cabanas, a eucalyptus steam room, a full running track, in addition to everything else you expect at a top gym.The store carries a number of brands like Rhone and Babor, though Walters said that the Equinox-branded products featuring Equinox logos, particularly face masks, have been outselling anything else on the platform so far. Here are our top 7:ġ.) West LA: When you walk in you feel like you’re in a giant mall but it’s actually a gym that includes a pool deck, tennis courts, executive locker room, salon, shop, valet parking, and a restaurant and bar.Ģ.) Century City: Often you’ll see a Rolls Royce or two sitting in the valet line at this location, which is smaller but certainly does not lack on quality.ģ.) West Hollywood: Best location for people watching and celebrity spotting, although we hope you do more than that at the gym (we say that because it’s not surprising to see girls socialize in heels instead of work out). Note that Equinox has different membership tiers, so some may be at a higher price point. ![]() ![]() However, some of the locations are dramatically better than the others. It’s indisputable that Equinox is the best gym chain in LA, so we will withhold from an article on top gym chains in LA. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |