Equinox Group

Equinox Group is an American luxury fitness company which operates several separate lifestyle brands: Equinox, Equinox Hotels, Precision Run, Project by Equinox, Equinox Explore, Equinox Media, Furthermore, PURE Yoga, Blink Fitness, and SoulCycle. Within Equinox's portfolio of brands, there are more than 300 locations within major cities in the United States, as well as in London, Toronto, and Vancouver. Its global headquarters is in New York City, where there are currently 35 Equinox Clubs and possibilities of a digital platform being launched in 2020.[1] Equinox is owned by a group of investors including Harvey Spevak, Executive Chairman and Managing Partner, as well as Principals of The Related Companies.

Equinox
Subsidiary
IndustryFitness
FoundedSeptember 23, 1991 (1991-09-23) in Manhattan, New York, United States
Headquarters
New York City, New York
,
United States
Key people
Harvey Spevak (chairman)
ServicesHealth club
SubsidiariesEquinox
SoulCycle
PURE Yoga
Blink Fitness
Precision Run
Equinox Hotels
PROJECT by Equinox
Equinox Explore
Equinox Media
Websitewww.equinox.com

History

The first Equinox location opened in Manhattan's Upper West Side by the Errico family on September 23, 1991. In 2000, Spevak led a management buyout of Equinox to two private equity firms, North Castle Partners and J.W. Childs. In 2006, he partnered with Related Chairman principals to acquire a controlling interest in Equinox and secured a significant minority investment from private equity firm L Catterton in 2017.

In 2008, Equinox brought Pure Yoga to the United States from Hong Kong, which it operates separately. In 2011, Equinox launched Blink, a separate fitness company with a value-driven membership model and acquired SoulCycle.[2][3] In January 2018, Equinox made a minority stake investment in Rumble Boxing.[4]

In July 2019, Equinox launched Equinox Hotels in Hudson Yards, New York.[5] The brand planned to open 50 properties within the following ten years.

2019 fundraising event for Donald Trump

Stephen M. Ross, the chairman of The Related Companies, and minority investor in Equinox, scheduled a fundraising event for August 9, 2019 for Donald Trump. The fundraiser sold top priced tickets selling for up to $250,000, which includes a meeting with the president. Consumers linked Ross with Trump's controversial messages which many believed were counter to Equinox's and its customers' core principles. Equinox responded on their social media that Ross was only a "passive investor" but failed to address his leadership position in the company and its board.[6]

Members of the general public, the LGBTQ community, Chrissy Teigen and Billy Eichner called for a boycott of SoulCycle and Equinox in protest of The Hamptons fundraiser.[7]

Employment practices

A 2019 New York Times article reported that trainers often worked long hours, sometimes as many as 80 a week, forcing some to sleep in employee locker rooms or their cars between shifts. Former and current trainers also described intense pressure from the company to recruit and retain clients drawn from the club's members.[8]

The company settled two lawsuits in California in 2013, both related to unpaid overtime for trainers.[8]

References
  1. Group, Equinox. "Equinox Group to Launch New Digital Venture". prnewswire.com. Retrieved 2020-03-05.
  2. Beth Landman. "Sotomayor v. Equinox Fitness: The Case of the Canceled Membership". NYMag. Retrieved 2015-10-21.
  3. Erika Owen (2016-02-17). "Equinox to Launch Hotel Brand with a Focus on Fitness Away From Home". TravelandLeisure. Retrieved 2019-04-19.
  4. "Equinox bets on Rumble's boxing theme". New York Post. 8 January 2018.
  5. Mzezewa, Tariro (2019-07-10). "Equinox Gets Into the Hospitality Game". The New York Times. ISSN 0362-4331. Retrieved 2020-05-01.
  6. Ries, Brian (7 August 2019). "Owner of Soulcycle and the Miami Dolphins Faces Outrage and Calls for Boycott Over Trump Fundraiser". CNN. Retrieved 8 August 2019.
  7. DeSantis, Rachel (2019-08-07). "Chrissy Teigen, Billy Eichner and More Call for SoulCycle & Equinox Boycott as Owner Plans to Fundraise for Trump". People. Retrieved 2019-08-08.
  8. Yaffe-Bellany, David (5 December 2019). "Working at Equinox: 'It's Very Hunger Games'". The New York Times. Retrieved 14 June 2020.
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