SoulCycle
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SoulCycle
SoulCycle
Subsidiary
Founded2006; 13 years ago (2006)
FoundersElizabeth Cutler
Julie Rice
Ruth Zukerman
HeadquartersNew York, NY
Number of locations
88 (2018)
Key people
Melanie Whelan (CEO)
Number of employees
1,500 (2016)
ParentEquinox Fitness
Websitesoul-cycle.com

SoulCycle is a New York City-based fitness company with studios in 15 U.S. states and 3 studio locations in Canada.[1] Founded in 2006, it offers indoor cycling (Not to be confused with "spinning") workout classes. As of June 2018, SoulCycle has 88 studios in the United States and Canada.[2]

Ruth Zukerman in July 2018

History

In 1996, drawn to the physical and mental aspects of spinning, Ruth Zukerman began teaching spin classes.[3][4] In 2006, one of her students, former NFL football player Tiki Barber, proposed going into business together, creating a new studio based on Zukerman's teaching style and techniques. Although Barber withdrew from the business before it launched, the idea led Zukerman to co-found SoulCycle with Elizabeth Cutler and Julie Rice.[5][4][6] Rice previously had worked as a talent manager for Benny Medina's Handprint Entertainment, and Cutler was a commercial real estate agent.[7][8]

SoulCycle's first studio was on the Upper West Side in Manhattan.[9] The three founders self-funded the venture, with a large amount of the money coming from money Cutler received as part of an investment in Izze Beverage Co. after its acquisition by PepsiCo.[7]

Villency Design Group designed the signature SoulCycle stationary bicycle.[10] The firm engineered the SoulCycle bike seat as a "split seat" to relieve pressure and discomfort found in conventional bike seats.[11] In 2017, SoulCycle's redesigned bike, the Soul Bike Next Generation, was introduced. It has an aluminum frame, a carbon-belt drivetrain, and electromagnetic induction to supply friction, and keeps Villency Group's split seat design.[12]

In 2009, Zukerman left SoulCycle and the next year founded competitor Flywheel Sports with Jay Galuzzo and David Seldin.[5][4] In 2011, a majority stake in SoulCycle was acquired by the Equinox Fitness subsidiary of The Related Companies and it now operates as one of their brands.[13]Melanie Whelan was named SoulCycle CEO in 2015.[14] In 2016, Rice and Cutler sold their remaining shares in the company to Equinox, stepping down from their roles as co-chief creative officers.[8][15]

In July 2015, SoulCycle filed to raise $100 million in an initial public offering under the symbol SLCY, at a valuation of around $900 million. The company paused the process in 2016, and stated in a May 2018 filing with the Securities and Exchange Commission that it was canceling the IPO, citing "market conditions."[16][17]

SoulAnnex and SoulActivate

In November 2017, the company announced SoulAnnex, an off-bike fitness studio, first testing the idea at a studio in Manhattan. SoulAnnex has similar branding, style and pricing to SoulCycle, but the workouts do not involve bikes, and also focus on yoga.[2][18] In February 2018 SoulActivate was announced, an on-the-bike class that incorporates high-intensity interval training (HIIT).[19]

Media division and talent agency

In June 2018, SoulCycle launched a new media division that will create music, video and audio programming, and events.[2] In July 2018, SoulCycle and Equinox launched a talent agency to represent their fitness instructors, with WME in an advisory role.[20][21] In October 2018, SoulCycle announced a partnership with Apple Music, making available instructor-curated playlists and motivational audio. That same month, the company introduced the launch of an upcoming series of live concerts, Sound by SoulCycle, in tandem with traditional SoulCycle classes.[22]

Front entrance to the San Francisco SoulCycle studio.

Services and market

The firm operates on a pay-by-class model and does not offer memberships. The indoor cycling classes features spinning, as well as hand weights and choreography.[23]

In October 2018, Whelan announced that SoulCycle will open in London in 2019.[24]

In a 2011 Los Angeles Times article that James Fell wrote about SoulCycle, he approved of the company's approach to entertain and motivate its customers, saying he encourages "the importance of finding an exercise you love and embracing it with fervor." However, Fell gave the company "a failing grade for exercise physiology and biomechanics" and pointed out that the co-founders do not have certifications in any type of exercise.[25][26] Elsewhere, SoulCycle has been noted for its mental health and wellness benefits and sense of community among its staff and riders.[27][28] Devotees of SoulCycle typically refer to the exercise as a strong emotional experience.[29][30]

In the media

SoulCycle is prominently featured in the 2018 film I Feel Pretty.[31]

On January 7 2019, NPR's podcast How I Built This featured an hour-long interview with Julie Rice and Elizabeth Cutler where they discuss the beginning of the company.[32]

References

  1. ^ "All Studios". soul-cycle.com. Retrieved 2018.
  2. ^ a b c Raphael, Rina (20 June 2018). "SoulCycle just launched a new media division". Fast Company. Retrieved 2018.
  3. ^ Miller, Gerri (July 11, 2018). "Ruth Zukerman Spins Cycling Into Success". Jewish Journal.
  4. ^ a b c Schlossberg, Mallory (September 9, 2015). "One of Soul Cycle's founders turned on the brand and started its biggest rival". Business Insider.
  5. ^ a b Ogunnaike, Nikki (June 16, 2016). "How One Woman Single-Handedly Changed the Indoor Cycling Game". Elle.
  6. ^ Saint Louis, Catherine (2010-10-10). "In New York, a Rivalry Shifts Into High Gear". New York Times.
  7. ^ a b Li, Shan (August 9, 2015). "SoulCycle founders are peddling fun in the gym". Los Angeles Times. LA Times. Retrieved 2016.
  8. ^ a b Romeyn, Kathryn (3 July 2017). "How an Ex-Talent Manager Co-Founded SoulCycle and Sold for $90M". Hollywood Reporter. Retrieved 2018.
  9. ^ Hong, Nicole (2013-09-18). "How I Built It: Cycling Chain SoulCycle Spins Into Fast Lane". Wall Street Journal.
  10. ^ "The wizard of wellness design". Well+Good. Retrieved .
  11. ^ Kleiman, Jamie. "Soul Cycle - Villency". Villency. Retrieved .
  12. ^ Malik, Naureen (20 July 2017). "SoulCycle's New Exercise Bike Will Make Your Workout Even Harder". Bloomberg. Retrieved 2018.
  13. ^ "Soul Cycle celebrity cult following". Vanity Fair. September 2012.
  14. ^ Bryant, Adam (14 May 2018). "SoulCycle CEO on her college wake-up call and the No. 1 thing women can do to get ahead". CNBC. Retrieved 2018.
  15. ^ Henry, Zoe (20 Nov 2017). "The Co-Founder of SoulCycle Joins Another Hot New York Startup". Inc. Retrieved 2018.
  16. ^ Fournier, Elizabeth (25 May 2018). "SoulCycle Shelves Plans for U.S. IPO After Three Years in Limbo". Bloomberg. Retrieved 2018.
  17. ^ Kopytoff, Verne (25 May 2018). "SoulCycle Ends Ride Towards an IPO". Fortune. Retrieved 2018.
  18. ^ Olick, Diana (22 November 2017). "SoulCycle bets on a new brand, this one is off the bike". CNBC. Retrieved 2017.
  19. ^ Raphael, Rina (26 Feb 2018). "SoulCycle expands further, gets into the HIIT trend". Fast Company. Retrieved 2018.
  20. ^ Rina Raphael, Fast Company. "Equinox and SoulCycle are launching a talent agency for fitness influencers." Jul 19, 2018. Retrieved Sep 7, 2018.
  21. ^ Mims, Taylor (24 July 2018). "Equinox & SoulCycle Launch Full-Service Management for Fitness Talent". Billboard. Retrieved 2018.
  22. ^ Raphael, Rina (1 Oct 2018). "SoulCycle is turning its rides into live music concerts". Fast Company.
  23. ^ "About". Soul Cycle. Retrieved 2016.
  24. ^ Gagne, Yasmin (22 Oct 2018). "SoulCycle CEO Melanie Whelan talks expanding abroad and online". Fast Company.
  25. ^ Fell, James. "In-Your-Face Fitness: SoulCycle's mix of cycling and upper-body workouts raises concerns". Op-ed. The Los Angeles Times. Retrieved 2016.
  26. ^ Lutz, Ashley. "SoulCycle's founders have resigned". Business Insider. Business Insider Inc. Retrieved 2016.
  27. ^ Romanoff, Zan (4 Dec 2017). "The Consumerist Church of Fitness Classes". The Atlantic.
  28. ^ Acton, Annabel (13 Aug 2017). "5 Tips From SoulCycle on How to Build Brand With a Cult Following". Inc.
  29. ^ Van Dusen, Christine (25 June 2018). "The cult appeal of SoulCycle". Atlanta Magazine. Retrieved 2018.
  30. ^ Bennett, Jessica (20 Oct 2014). "Why So Many Women Are Crying at the Gym". Time. Retrieved 2018.
  31. ^ Hess, Amanda (23 April 2018). "'I Feel Pretty' and the Rise of Beauty-Standard Denialism". New York Times.
  32. ^ "How I built this: SoulCycle: Julie Rice & Elizabeth Cutler".

External links


  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.

SoulCycle
 



 



 
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