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The New York Times reported on June 16 that Gary Heavin has sold almost 4,000 CURVES FOR WOMEN franchises (franchise fee: $20,000 plus $395 a month) and that the company now has almost 3,000 operating facilities. The article further reported that since 1995 CURVES has generated $80 million in franchise fees, plus another $20 million in monthly payments. The company is projected to make a profit of $40 million in 2002.
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The Sports Club Company Inc.'s board of directors unanimously elected George J. Vasilakos as a member of the board to fill the vacancy created when its board of directors was increased to seven members. Vasilakos' experience encompasses corporate management at the chief executive officer level of public and private companies, numerous operational executive positions, mergers and acquisitions, and service on corporate and industry boards of directors. “George and I have worked together on a variety of projects and at a number of companies over the past 15 years,” stated Rex Licklider, vice chairman and co-chief executive officer of The Sports Club Company. “He will bring invaluable managerial, financial and strategic experience to the board.”
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Jazzercise announced a new partnership with the International Council on Active Aging (ICAA) to promote fitness for aging adults. The partnership names Jazzercise as the ICAA's official “Group Fitness Programming Partner” and will engage the ICAA's efforts to improve the quality of life for aging baby boomers and older adults
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The Nautilus Group Inc. board of directors authorized management to repurchase up to $20 million of the company's common stock in open-market transactions from June 11, 2002 through August 31, 2002, with the terms of the purchases to be determined by management based on market conditions.
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Iron Grip Barbell Co. and Hard Gear Sporting Goods Inc. have reached a settlement of the lawsuit filed by Iron Grip earlier this year. Iron Grip had filed suit against Hard Gear for infringement of its patents relating to weight lifting plates having multiple hand grip openings. As a result of the settlement, Hard Gear agreed to entry of a final judgment and the issuance of a permanent injunction enjoining Hard Gear from, among other things, manufacturing or selling any of the alleged infringing products.
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York Barbell Vice Chairman Paul Stombaugh announced the appointment of Dr. William Thierfelder as president of York Barbell Co. Inc. Thierfelder most recently served as the executive director of the Player Management Group, LLC (PMG), a full service sports representation company, serving athletes in the NFL, NBA, and MLB.
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In Brief:
The Xercize Corp. has launched a redesigned Web site at www.Xercize.com. The new site will accommodate online registration, equipment orders and continuing education in addition to information, promotional materials, downloadable marketing kits and more… Peak Pilates, formerly known as Peak Body Systems, has re-launched its Web site as www.peakpilates.com. The site provides facilities with a one-stop resource for Pilates equipment, instructor training and expert program consultation… MForest Grove Athletic Club of Palatine, IL has purchased the FitLinxx interactive fitness network for its club… Veteran fitness industry consultant, Glenn Colorassi has been tapped to oversee the development, design, and operating procedures for the new spa and health club at Quail Valley River Club in Vero Beach, CA.