SoulCycle the US celebrity fitness chain to go public
SoulCycle, the US indoor cycling fitness chain which has gained a cult following in the US, plans to float on the stock market, the BBC reports.
The boutique fitness firm is popular among A-list celebrities with David Beckham, Lady Gaga and Tom Cruise all having attended classes.
It plans to raise up to $100m (£64m), according to its initial estimate in its official filing.
Started in 2006 by Elizabeth Cutler and Julie Rice, it now has 36 studios.
And it is already profitable, making $25m profit last year on sales totalling $112m.
"SoulCycle isn't in the business of changing bodies: it's in the business of changing lives," the boutique fitness firm, says in the filing as it tries to woo would-be investors.
While its description of its purpose may seem rather lofty for what is in reality just another exercise class, it claims to have created a community beyond the people who actually do its classes.
The firm says it has 53,000 Facebook fans and 36,000 Twitter followers - even including people who have never taken part in a class, but which SoulCycle says like the "lifestyle".
And it's adamant that for most class participants losing weight, typically the most popular reason for exercising, is nothing to do with it.
Its "mission" as the firm describes it, is to benefit not only the body, but the mind and soul too.
"For many of our riders SoulCycle is not about how much weight they can lose, rather, it's about letting go, turning inward and finding the strength to meet life's daily challenges, overcome obstacles and break through," it says.
The 45 minute long classes - costing some $34 each - are set in a dark, candlelit room with high energy music blasting out.
"The experience is tribal. It is primal. And it is fun," SoulCycle says.
While the majority of its current studios are in New York, it also has a presence in San Francisco and Los Angeles and says it plans to open 10 to 15 studios a year until it reaches "at least" 250 in total.
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