The Gym Group boss: Increasing health and fitness interest is key to industry growth
The boss of The Gym Group has said that an underlying national interest in health will unlock the long-term growth of the fitness industry.
The group’s CEO Richard Darwin explained that the government’s initiative to reduce obesity as well as tough economic conditions will see an increase in use of low-cost gyms.
The firm, which saw its year-on-year revenue half in H1 of this year, is confident in the firm’s ability to recover from the effects of COVID-19 on the business.
Richard Darwin, CEO of The Gym Group, commented: “Following our decisive actions during lockdown to minimise costs and secure additional liquidity, we have reopened as the strongest capitalised company in the sector.
“We anticipate the long-term structural growth of low-cost gyms will continue to be driven by the underlying interest in health and fitness, which is accelerating as a result of COVID 19 and the Government’s initiative to reduce obesity.
“With the likelihood of a challenging economic environment in the coming months, gym-goers will increasingly look for great value and as the lowest-priced high quality gym operator we are well placed to meet this demand.”
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