PRODUCT NEWS
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| TRIB3 and Urban Gym Group sign 20-site deal for Benelux |
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| 01 Jun 2021 . BY Tom Walker |
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| The plan is to roll 20 sites out across the Benelux region in five years – starting with Amsterdam in 2021 / TRIB3 |
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I’d been in talks with TRIB3’s chair, Jonathan Fisher, since late 2020 and really connected with both the concept and the executive team at the helm of the brand
– Jordy Kool |
TRIB3 has secured a franchise deal which will see it open 20 studios across Belgium, the Netherlands and Luxembourg.
The boutique operator has signed the area development deal with Dutch entrepreneur and investor, Jordy Kool, who has been given exclusive territory rights to the Benelux region.
Kool is the co-CEO of Urban Gym Group (UGG) and the TRIB3 sites will be managed within the portfolio of UGG.
The franchise agreement follows Kool becoming an investor in TRIB3 in early 2021, through his investment group, Iron Asset Management.
The plan is to roll the 20 sites out across five years, with six to open in the first two years of the agreement.
According to TRIB3 CEO, Kevin Yates, the first TRIB3 store in Benelux will open later this year, in Amsterdam.
"Our property team is already in advanced discussions, along with UGG, on several other locations," Yates said.
"Jordy and I share a lot of the same values and both see massive opportunities for growth in the industry right now, particularly for the boutique sector, as people look to reconnect and immerse themselves in the experiences they’ve been waiting for, so I foresee a really momentous few years ahead for this rollout and for the brand overall."
Kool said: "I've had my eye on the fitness market and opportunities to bring new concepts into the Benelux market, alongside our existing portfolio.
"I’d been in talks with TRIB3’s chair, Jonathan Fisher, since late 2020 and really connected with both the concept and the executive team at the helm of the brand.
"I saw straight away the commercial opportunity yielded by the uniqueness of the TRIB3 brand and business model, having invested in TRIB3 International in Q1, so I'm looking forward to this next phase of the partnership and having my team be really hands-on in driving international expansion of the concept."
UGG co-founder and co-CEO, Marjolijn Meijer, said the deal would add to the diverse portfolio of UGG's fitness brands.
"We see huge potential for the concept and are cultivating great working relationships with the TRIB3 team as we prepare for the first wave of rollout and really start to immerse ourselves in the brand," Meijer said.
• To read an interview with Kevin Yates, in which he outlines TRIB3's global plans, click here for HCM issue 2 2021.
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