Xponential Fitness, Inc. (NYSE: XPOF) announced today it has signed a Master Franchise Agreement in Japan for StretchLab, the world’s largest assisted stretching brand. The agreement provides the Master Franchisee with the opportunity to license at least 40 StretchLab studios in Japan to potential franchisees over the next 10 years. As of December 31, 2022, Xponential had over 2,600 open studios worldwide, operating in 16 countries and four continents.
The deal was signed with Sunpark Co. Ltd. of Osaka, a multi-brand operator and global franchisor of restaurants, entertainment concepts, and fitness centers with more than 100 locations in Japan, Singapore, Thailand and the United States. The StretchLab agreement marks Xponential’s fifth brand to enter the Japanese market, following earlier agreements for Club Pilates, Rumble, CycleBar and AKT with Master Franchise Partner, Wellness X Asia. Wellness X Asia currently has 22 Club Pilates studios open in Japan, with the first studios of Rumble, AKT and CycleBar slated for later this year.
“Japan is emerging as one of Xponential’s most important global markets, and we are very enthusiastic to welcome Sunpark as our latest international partner,” said John Kersh, Chief International Development Officer of Xponential Fitness. “Sunpark’s vast experience in real estate and multi-brand franchising will provide an outstanding foundation on which to expand the StretchLab brand across Japan.”
Sunpark is led by founder and CEO Ken Takagi who is assembling a highly-qualified team to bring the StretchLab brand to life in Japan. The StretchLab project will be overseen by Koji Yamaguchi, a respected entrepreneur with 10 years of experience in the assisted stretching space in Japan.
According to CEO Ken Takagi, “This is an ideal time to launch StretchLab in Japan, as consumers are increasingly seeking high-quality options to improve their overall health and well-being. We are confident Stretchlab will be very well-received across Japan.”
The agreement marks the continued expansion of Xponential Fitness outside North America. The company currently has multiple brands’ studios operating or in development in 16 countries across North America, Europe, Asia, and Australia. Specifically for StretchLab, Xponential signed their first international agreement for StretchLab in 2021, for Australia and New Zealand, and in 2022 they signed master franchise agreements for Mexico and Kuwait. The brand also just reached the milestone of 300 studios open globally.
Source: BusinessWire
