Hydrow and Speede Fitness: Powerhouse Partnership in the Rise of Strength Training
Hydrow’s Expansion and Acquisition
Hydrow, a popular connected fitness company, has announced two significant milestones: its acquisition of strength training company Speede Fitness and the appointment of John Stellato as its new President and Chief Financial Officer, with founder Bruce Smith assuming the role of Chairman of the Board.
The acquisition of Speede Fitness is a strategic move for Hydrow to capitalize on the growing demand for strength training, which has led to a decrease in the popularity of cardio exercises like running and biking. Gymgoers are increasingly prioritizing muscle building, and Hydrow is responding to this trend.
Strength Training: The New Fitness Frontier
The acquisition comes at a perfect time as surveys and industry leaders alike have observed a significant shift towards strength training. Planet Fitness and Life Time Fitness have both noted that their members are seeking more resistance exercises and less cardio.
Speede Fitness’s advanced technology and user-friendly design make it an excellent addition to Hydrow’s portfolio. Its AI-powered cameras, sensors, and touch screen provide a seamless and personalized strength training experience.
Hydrow’s Growth: A Peloton Challenger
Hydrow’s growth and sales numbers stand in contrast to the struggles faced by Peloton, the company that pioneered the connected fitness market. While Peloton has faced declining sales and mounting losses, Hydrow has managed to grow.
Hydrow’s delivered unit sales for its connected rowing machine have surged by 23% year-over-year, and its sales on Amazon have skyrocketed by 273%. This growth raises questions about whether Peloton’s problems are industry-related or due to internal challenges.
A Market Divide: Cardio vs. Strength
Peloton’s focus on cardio machines may be a contributing factor to its decline as consumers shift towards strength training. While Peloton has launched its own rowing machine and strength training content, they have not received significant attention.
Hydrow, on the other hand, is embracing the demand for strength training and is expanding into a whole-body health company. The company plans to launch a new consumer product next year that will further its mission.
Conclusion
Hydrow’s acquisition of Speede Fitness and its impressive growth trajectory demonstrate the growing importance of strength training in the fitness market. As consumers prioritize muscle building and overall fitness, connected fitness companies like Hydrow that cater to this demand are positioned for success.
Data sourced from: cnbc.com
