Since opening its first New York City club in 2006 SoulCyclersquos indoor cycling brand has grown to 67 locations across the United States Photo by GettyAlli Harvey

Since opening its first New York City club in 2006, SoulCycle’s indoor cycling brand has grown to 67 locations across the United States. (Photo by Getty/Alli Harvey.)

SoulCycle Expands Outside U.S. with First Toronto Club

In SoulCycle's initial public offering filing from July 2015, company representatives said they “believe that the SoulCycle brand can be successfully transported abroad" at a rate of 10 to 15 new studio openings every year.

SoulCycle, New York City, will foray into the international market by opening a club in Toronto in March, according to The Toronto Star.

SoulCycle’s Careers website, which shows assistand studio manager and front desk staff positions open for application, indicates the club will be located along Toronto’s historic thoroughfare of King Street. 

This news follows projections in SoulCycle’s initial public offering (IPO) filing from July 2015, in which company representatives said they “believe that the SoulCycle brand can be successfully transported abroad, as demonstrated by international recognition and social media followers,” at a rate of 10 to 15 new studio openings every year.

“We see tremendous opportunity in the Canadian market,” SoulCycle CEO Melanie Whelan told the Star.

Since opening its first New York City club in 2006, SoulCycle’s boutique indoor cycling brand has grown to 67 locations across the United States. Earlier this year, the company opened its third location in Boston and its first club in Houston.

SoulCycle’s public offering, however, remains pending, according to an amended registration statement filed with the Securities and Exchange Commission last December. This March, Harvey Spevak, who is CEO of SoulCycle's parent company Equinox, suggested underperforming IPOs in 2015 were the reason for the IPO delay. SoulCycle co-founders Elizabeth Cutler and Julie Rice resigned from their positions as co-chief creative officers in April.

SoulCycle reported revenue of $112 million in 2014 and $34.8 million for 2015 through March 31.

Equinox, New York City, continues to expand internationally with new clubs in Toronto and London. The luxury fitness chain will open shop in Vancouver, Canada, by the end of the year, according to the Vancouver Sun.

Equinox ranked No. 5 on this year's Club Industry Top 100 Clubs list with an estimated revenue of $1.07 billion. 

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