On this LIFTS podcast, Escape Fitness CEO, Matthew Januszek and Mo Iqbal, Founder & CEO of SweatWorks are joined by guest, Alex Alimanestianu, a seasoned executive and Angel Investor with significant experience in the fitness and wellness industry. He served for a long time as CEO of Talent Sports International, and in addition to his leadership there, Alex has been an active investor in the fitness technology space.

In this episode, the discussion centred on L Catterton’s recent investments in EGM and [solidcore]. Alimanestianu highlights the importance of early-stage investments in emerging markets and the advantages of being an early player in new concepts. He expressed concerns about the long-term viability of standalone boutique fitness studios, citing low entry barriers and increased competition. The conversation also covered the boom in Pilates and whether it had peaked, along with broader implications for valuation and investment trends in the fitness industry.

Key topics discussed include:

• Opportunity vs. challenges in investing in start-ups.
• L Catterton investing in Solid Core and EGYM.
• Comparison with innovations across other industries.
• Advantage of being the first of second player to a concept.
• The shifting buying pattern of fitness equipment.
• The boom of Pilates, but has it peaked?
• Risk of boutiques only offering one modality.
• The franchise model in boutiques.

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0:00     Intro

2:55     Alex’s opportunity to invest in Mirror

5:00     Investing in fitness industry start-ups

6:08     Advantage of being ‘the first or second player’ to new concepts

8:45     L Catterton’s investment in EGYM

13:01   Comparison with other fitness companies and industries

16:25   Integrating technology from a more medical perspective

17:51   The shifting buying pattern of fitness equipment      

20:50   L Catterton’s investment in Solid Core

24:09   The breadth of Pilates formats available

26:21   The booming demand for Pilates

27:09   Risks of boutiques only offering one thing

33:35   The franchise model in boutique

39:54   Final thoughts and key takeaways