Fitness First plans Asian expansion
British based gym chain Fitness First is eyeing further expansion in Asia with specific focus on the Thai market.
Fitness First said it will open 50 new branches within five years in the region.
It says the main thrust of expansion would be in Thailand as it is its biggest market in Asia.
“Thailand has a great outlook and the 11-year old Thai operation is producing the highest growth in the region at 23 per cent in the first half,” said Fitness First Asia CEO Simon Flint.
This year, Fitness First plans opening two to three branches in Bangkok and another two to three in provincial cities.
It recently opened its newest branch at Siam Paragon mall.
Thailand’s fitness market is currently valued at 3.5 billion baht (US$112.3 million). With Thais becoming more health conscious, the industry is expected to rise to 4.5 billion baht (US$144.4 million) in 2015.
Fitness First also operates in Hong Kong, Singapore, Malaysia, Indonesia and the Philippines.