Xponential Fitness Inc. (NYSE: XPOF) has signed a Master Franchise Agreement to expand its indoor cycling brand CycleBar to Japan.
Naoki Shimabukuro, franchise partner and chief executive of Club Pilates Japan, will lead the opening of at least 30 CycleBar studios across the country spread over the next 10 years.
“Our team’s goal is to build CycleBar and Club Pilates into the most recognized and popular boutique fitness brands in Japan,” Shimabukuro said in a statement.
CycleBar studios are now located in three countries and the first spot in Japan is planned to open in 2023.
The Irvine-based global franchisor oversees several fitness brands including StretchLab, YogaSix, Rumble, and Pure Barre with over 2,300 global studios. Xponential is currently valued at $715 million.