FITLAB
Overview
FitLab is an innovative fitness company that integrates multiple aspects of fitness and sports lifestyles. Founded in 2018, FitLab specializes in creating and acquiring top-tier fitness brands, uniting them under one cohesive ecosystem. The company is headquartered in Newport Beach, California, and was co-founded by Brian Kirkbride and Mike Melby. In addition to raising approximately $65 million from Atlas Credit Partners in March 2024, FitLab has effectively bolstered its market presence through strategic partnerships and acquisitions.
Recent Developments
- March 6, 2024: FitLab announced securing a $65 million strategic financing from Atlas Credit Partners to support its expansion and acquisition programs. This funding allowed the company to acquire a state-of-the-art fitness equipment manufacturer, enhancing its already comprehensive platform (FinSMEs).
- February 27, 2024: FitLab completed the acquisition of Assault Fitness and RPM Training, two well-regarded companies within the fitness industry, further strengthening its position as a leading integrated fitness platform (Fitt Insider).
- September 11, 2023: FitLab partnered with GoSaga to establish 250 new fitness studios across the East Coast of the United States, marking the largest multi-brand fitness development partnership in the U.S. industry (Athletech News).
- August 2023: Nike collaborated with FitLab to launch Nike Training Studios in multiple U.S. locations, offering digitally supported fitness classes. This initiative expanded FitLab’s reach within the boutique fitness market (Retail Dive).
- January 14, 2022: FitLab announced growth capital acquisition deals with Electric, Fitplan, and Ragnar, further expanding its footprint in the integrated hybrid fitness space (PR Newswire).
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Newport Beach, California, USA |
| Founders | Brian Kirkbride, Mike Melby |
| Revenue | Estimated <$5 Million |
| Profits | Not publicly disclosed |
| Key Investors | Atlas Credit Partners, Cava Capital, Casa Verde Capital |
| Industry | Fitness & Sports Lifestyle |
| Number of Employees | Approximately 201-500 |
Early History
FitLab was established in 2018 by Brian Kirkbride and Mike Melby, both of whom had extensive experience in fitness and brand development. The duo embarked on a mission to innovate the fitness industry by creating a platform that seamlessly integrates fitness studios, at-home experiences, and mass-participation events. Starting with the acquisition of Fitplan, a fitness app, and subsequent partnerships with renowned athletes like Conor McGregor, Laird Hamilton, and Gabrielle Reece, FitLab quickly positioned itself as a hybrid fitness disruptor.
Company Profile and Achievements
FitLab has developed a unique business model that bridges fitness services, equipment, and digital experiences. It operates several brands, including Electric, a premier sports eyewear company; McGregor FAST, a fitness training program led by UFC Champion Conor McGregor; and XPT, founded by Laird Hamilton for performance training. FitLab’s strategy focuses on:
- Building Partnerships: Collaborating with major brands such as Nike to expand its market influence.
- Strategic Acquisitions: Integrating brands like Assault Fitness and RPM Training to enhance its equipment offerings.
- Expanding Studios: Launching fitness studios nationwide as part of its ambition to establish a global fitness presence.
- Technology Integration: Emphasizing digital solutions in tandem with physical fitness spaces to provide a comprehensive health and wellness experience.
Current Operations and Market Position
FitLab continues to operate as a leading player in the hybrid fitness market, connecting various aspects of fitness lifestyles through an integrated platform. It sets itself apart with a blend of celebrity partnerships and innovative training solutions, drawing from its Competitive Advantages such as:
- Comprehensive Offerings: Combining in-person and digital fitness services in an integrated model.
- Established Partnerships: Leveraging relationships with iconic athletes and brands.
- Rapid Expansion Plans: Implementing strategic geographic rollouts for fitness studios nationwide.
Conclusion
With its forward-thinking approach, FitLab is redefining the fitness landscape by blending digital and traditional fitness elements into a singular cohesive platform. The company's strategic expansions, notable acquisitions, and robust partnerships place it at the forefront of the fitness technology evolution. Looking forward, FitLab is poised to further capitalize on its dynamic platform to drive global growth and innovation within the fitness industry, aiming to establish itself as a household name in fitness and sports lifestyles.