Equinox buys SoulCycle and plans major expansion
Cofounders Julie Rice and Elizabeth Cutler will continue to steer the SoulCycle brand, which is now owned by Equinox
After rumors, and a New York Post article, that Equinox gyms and popular spin studio SoulCycle were in talks to team up, the news was confirmed this morning.
Cofounders Julie Rice and Elizabeth Cutler wrote the following in an email to their whole “Soul community”:
“Five years ago in a rear lobby on West 72nd Street, with 33 stationary bikes and the help of your incredible energy, a fitness revolution was born in New York City. Today, we are ready to bring SoulCycle to the world.
We have spent many months “soul searching,” and investigating ways to bring our cardio party to the people. This morning we are excited to share with you that we have formed a strategic partnership with Equinox.”
Rice and Cutler assured existing clients that nothing will change—same boutique fitness studio experience, same “awesome teachers,” same pay-per-class pricing instead of a membership model. (To be honest, we were kinda hoping for a deal on this point.)
What will change? Equinox will help SoulCycle with the world domination part of its business.
“By combining the SoulCycle brand with Equinox’s resources, we now have what we need to roll out SoulCycle’s innovative programming to more people around the country… and beyond,” says the email. Rice and Cutler will continue to run the company. We also have yet to learn, however, if this means an upgrade for Equinox’s snooze of a spin program.
Flywheel Sports, SoulCycle’s competitor, recently announced the roll out of its TorqBoard stadium-seating studios in South Beach, Chicago, and Atlanta this spring. According to several reports Equinox also considered buying Flywheel. And proving that the spin wars are nothing if not personal (remember that Flywheel’s Ruth Zukerman was originally a SoulCycle founder), Harvey Spevak, CEO of Equinox, couldn’t resist including this jab in a press release:
“We evaluated several other studio cycling operators as investment or acquisition targets, however, we believe the SoulCycle vision, brand and team are far superior.” That’s Harsh, Harvey.
This relationship with Equinox sounds designed to help SoulCycle keep pace, if not build in some serious sprints. With Equinox’s resources, the company plans to kick into high gear, expanding from 8 to 40 locations, with multiple studios in Los Angeles, as well as London, and beyond.
We’ll continue to keep you posted throughout the week as we learn more. —Melisse Gelula and Alexia Brue
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Very interesting. They really need to provide some sort of incentive for current Equinox members…
Way to go Julie and Elizabeth!!!
Soulcyle’s vision,brand, and team are far superior to the others.
Good choice Harvey…worth every penny!
Great scoop guys!
Um, didn’t the NY post report in April that SC was looking for a buyer because it couldn’t compete anymore and needed help expanding? Flywheel is opening in Atlanta, Chicago, Miami, etc. without any help – is that what the Post reported? So why is this a good thing for SC fans – they ran out of money and needed a buyer to help them survive.
Ever since Flywheel came around, I stopped going to Soulcycle, although if they have gym sharing privileges I would consider going back. Soulcycle was just a spinning studio with candles, big deal – I could see why they would want to partner up with Equinox b/c Equinox has more to offer. I wonder what Equinox is going to do with its spinning classes now. I guess this is why I go to Flywheel – they actually offered something more than a dark room and a candle.
maybe if I write MYSELF….I won’t be misquoted like the NY Times did with me back in the late fall. oh and I get facebook deleted over that article…onward.
It was my PURPOSE to spend not just a class or two, but a period of many months at each line of cycling studios. Truly only scientific based way to see what works best for you physically. AND for ME to see what I prefer mentally and enjoyment wise.
Despite deletion on social networking by a couple SC instructors that felt so jilted? I returned to soul cycle a month ago after about a 7 month hiatus at Flywheel and have not looked back.
The workout HAS to eventually come at least partially from within YOURSELF. and soul cycle enables this in my opinion by having a style..that’s right..”style” that is truly fun and you don’t realize most of the time how grueling the work is.
and MOST DEFINITELY I feel better in my day/night leaving soul cycle, not just “spent” or “didn’t win” as I began to feel as I left a Flywheel class after the first two months…..The Equinox thing worries me, I was a member there in NYC and could not wait for the year to be over to sever ties. and have not once missed it….like I obviously did with the soul cycle gig.
Christine ^^^^^^ do you mean to say that Soulcycle deleted you from Facebook b/c you supported Flywheel and then you went back to Soulcycle?!!?!?! That is so sad, desperate and mean girls-esque. Actually, what’s sadder is that you went back. How weak.
if you read closer….soul cycle never deleted me.
sad? because I TRY something else? never ever changing workouts is non productive. not to mention I am a person that likes change.
sadder?
because I went back to a studio I used to like? remember the allure for me originally and always was the pay as you go….WEAK? because it turned out after a break, I worked harder and sweat more when I went back to classes there?
I don’t follow friends to workouts. ever.
I go where a teacher/coach inspires the most work out of me.
period.
I’m not looking for dinner pals, drinking buddies, party friends….I have plenty of those that have nothing to do with where I choose to participate in athletics…
does that answer everything oh so anonymous/afraid to even write a first name person???
Re: the article’s quote “Equinox’s snooze of a spin program”, never have more true words been written. Long ago, Equinox had a spin program second to none – with the BEST instructors (i.e. Verna Moses, MB Regan, James Parks, Nadia Zaki). As Equinox pushed to homogenize it’s program, each of those instructors became dispensable and the bland and less experienced instructors were ushered in…as if the membership would notice. Equinox was wrong and I along with others cancelled our memberships and thus the opening for SC and other independent cycling studios was born. I really hope SC knows what it’s doing by getting in bed with the likes of Equinox; all that glitters is not gold. ;)
correction – …as if the membership wouldn’t notice.
This whole conversation is a snooze. What’s great is that people are enjoying what they want to enjoy. Who cares what other people think. Do you. Own it. SC, Flywheel, Equinox, Jack Lalane. Just use your body without judgement from others.
I cannot agree more with Kiki. But I will also say that I find the commentary in this article, along with many others you have posted on the “spin war” to be extremely slanted and flat-out untrue.
Both studios offer different experiences…end of story. those who don’t prefer one style, go to the other. It’s that simple. While I naturally gravitate toward SoulCycle for my workouts, I find it disturbing that others can hate on ANY brand offering motivation and positivity, in hopes of inspiring others to become stronger, healthier human beings. It’s not just about the candles people.
As far as SoulCycle not being able to “keep pace” financially – we have no idea of their business plan and the fact of the matter is, their classes continue to sell out on a weekly basis the minute sign ups go online because of, as Equinox realized, the brand, instructors and vision. Hence the strategic partnership. And if a partnership means spreading that positive vision to the rest of the world.. amazing, i say.
No matter which studio riders go to, congrats on just getting your butt on a bike and whichever class motivates and inspires you.. rock on!
re: harvey spevak’s jibe at flywheel. i remember buying my first pair of rollerblades from harvey when he and his brother owned a sporting goods store on the upper west side. i also worked for him at equinox. he has always been smug and condescending.
Aren’t people who workout supposed to be happy?? :) I LOVE SOULCYCLE but can’t afford to do it every day so I alternate with spin classes at NYSC and unfortunately have a hard time with it because Soul has spoiled me. I wonder though if i join Equinox, will the quality of the classes be the same as those in the stand alone studios?
[...] beat them, buy them” approach. The luxe gym’s own program is a snore, but its recent SoulCycle acquisition keeps it in the race. —Lisa HeldAKPC_IDS+="24994,";FILED UNDER: Good SweatTAGS: Crunch, Flywheel, [...]
I just have one thing to say I LOVE SOUL-CYCLE. I love everything about it from the amamzing instructors who motivate you beyond what you thought you could ever do (thanks clare and danny) to the owners who are there on Saturday mornings, to the people who go who push themselves and help to push all of us around them, to the facilities, those at the front desk and so forth! What I love about SC is that it seems so small and intimate. They want you to sweat and have fun and they want to have the BEST instructors out there (which is why i don’t mind paying the $32 a pop). While I’m excited for the equinox/sc deal I’m also a bit scared. I don’t want SC to change at all! I hope they don’t become to big that instructors change and the people that go change. I have been a member of equinox for 5 years and my membership runs out in two days. I won’t be renewing b/c I spend too much time at Soul and prefer that. Equinox has no drive to get better instructors for classes. And Julie and Elizabeth were right when they said “Equinox’s snooze of a spin program”. It really is a snooze. There are 2 instructors that are okay at Equinox but even they can’t compare to SC. Happy for the owners of SC but hoping not too much changes!
[...] created by Physique alum Kate Albarelli.Equinox sits just across the street, and a new super-sized SoulCycle will soon be just a stone’s throw from Soul Cycle’s original UWS location.Then there [...]