The people behind fitness company Move Repeat, which owns Yoga Movement and Strong Pilates Singapore, share how people’s willingness to pay for fitness has changed from wanting bang for their buck to seeking relaxation and quiet time
Globally, a 2021 report by Statista projected that the health and fitness market would grow annually by 7.7 percent between 2020 and 2024, with 2024 expected to see $96.6 billion in revenue.
This trend is reflected in Singapore, where the number of people using or subscribing to a gym membership is rising. In May 2022, the statutory board Sport Singapore highlighted to The Straits Times, the nation’s daily newspaper, that there had been a 6 percent increase in the number of people using its ActiveSG gyms compared to 2019. There was also a 16 percent increase in people taking part in activities, such as Zumba and yoga, at its ActiveSG Sport Centres islandwide.
Statista also recorded a similar uptick in gym attendance between 2019 and 2023, save for the dip in 2020 due to the Covid-19 pandemic. In 2023, gyms in Singapore saw more than 4 million attendances, a 38 percent increase from 2019’s 2.9 million.
Read more: Balancing act: Alicia Pan has her eyes on pilates after building a yoga studio empire in Singapore
Since opening its doors in 2012, Singapore-started yoga studio, Yoga Movement, has redefined the practice by combining its well-being elements with fitness. It also launched an academy to train new yoga teachers.
Ten studios and a growing franchise partnership with Australia’s Strong Pilates later, Yoga Movement co-founders, Alicia Pan and Peter Thew, joined forces with Park Hotel Group founder, Allen Law, in 2023 to start a new parent company, Move Repeat. Their goal is to create more workout experiences across Asia.
The trio share more insights on the new company, how their fitness philosophies influence their leadership styles, and the trends and innovations shaping the Asian market.
