Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/122387
r e T a i l i n g T o d a y York City in 2006 and introduced a clothing line to raise visibility, given that the company does not advertise. The apparel line has become a robust retail business in its own right, with a new collection of tops, hoodies, workout pants and the like, coming out each month. Bandanas, computer mouse pads, dog leashes, devotees can purchase their own stationary soulbike umbrellas and a range of other accessories are availof consumers looking to escape the able too. The truest (and richest) of mayhem and hassles associated with the true devotees may even purchase large health clubs to a more personal their own stationary SoulBikes, at environment," Green said. "The $2,200 each. growing emphasis on health and wellSome from the Hollywood set are ness has perpetuated a new fitnessamong SoulCycle's biggest fans. Pop minded consumer that seeks a more singer Lady Gaga made headlines intimate, personalized experience." when she bought two SoulBikes to Green sees the possibility that the take with her on tour. Actress and TV growth of boutique fitness facilities host Kelly Ripa raved about SoulCywill outpace traditional gyms. "Ulticle on her talk show. Actor Jake Gylmately, there is room in the marketlenhaal and actress Katie Holmes frequent classes alongside other famous SoulCycle operates faces. Presidential daughter Chelsea Clinton taught a SoulCycle charity 14 units and plans to class to benefit The Clinton Haiti expand to about 50 Relief Fund, and her father, former President Bill Clinton, appeared at a in the next five years fund-raising ride for his wife's 2008 — including three in presidential bid. SoulCycle is part of a fitness indusNew York City, one try trend toward smaller, boutique in Westchester, N.Y., facilities, says Bryan Green, president and CEO of Advantage Fitness Prodand at least one ucts, a Los Angeles–based provider of in London. fitness-facilities equipment and site design. "There are a growing number 124 SCT / M a y 2 0 1 3 place for everyone," he said, "but tailored facilities are able to offer a greater exercise experience, given their ability to specialize." In 2011 Equinox bought a majority stake in SoulCycle for a price reported to be in excess of $15 million. Cohen says SoulCycle will keep operating as an independent for $2,200. company, with co-founders Elizabeth Cutler and Julie Rice continuing to lead operations. The partnership is fueling the company's rapid domestic expansion, with a focus on continued growth in New York, Los Angeles and selected major metro areas. SoulCycle, which currently operates 14 units, plans to expand to about 50 over the next five years — including eight in California this year, plus three in New York City, one in Westchester, N.Y., and at least one in London. SoulCycle operates two gyms inside malls: the @250 shopping center, in Roslyn, N.Y., and the Sunset Plaza, in West Hollywood, Calif. Two units will open this summer at open-air shopping centers: the Marin Country Mart, in Larkspur, Calif., and the Rye Ridge Shopping Center, Rye Brook, N.Y. Typically, the gyms measure about 2,500 square feet, and the company seeks ground-level spaces, preferably in corner locations. "We want our buildings to be our advertisement," said Cohen. High foot traffic is a must too, she says. "We consider ourselves anchor tenants." SCT