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Contxto – That’s right, Gympass isn’t the only fitness industry contestant on its way to snatch a major part of the Latin American market. Now, there’s a good-looking contender ready to compete in the industry after some attractive acquisitions in Chile and Argentina: ClassPass.
However, the fitness clash will not be head-on.
This is due to the fact that ClassPass, along with its recent acquisitions—MuvPass and Clickypass—, all have different business models to Gympass. Classpass is a B2C (business to consumer) company; Gympass is B2B (business to business). This will perhaps give them all some breathing space from each other, at least in the short-term.
Include this additional difference, but at an expansion strategy level:
We’ve already seen an acquihire in the fitness industry last year with Gympass acquiring Flaner, this was different to what we’re seeing today. That Gympass acquisition a few months back was to incorporate Flaner’s knowledge and AI talent.
Conversely, ClassPass’ acquisition focuses on gaining knowledge and traction in the Latin American market. Specifically in Argentina and Chile, which is where MuvPass and Clickypass currently operate.
Wait, which Pass is which?
ClassPass is a global gym network based in New York City. Opened for the public and it isn’t limited to the corporate employes, like in Gympass’ case. It has over 30,000 gyms all over the world.
On the other hand, MuvPass calls itself the biggest sport community in Chile. It has 300 gyms across seven Chilean provinces; Antofagasta, Coquimbo, La Serena, Viña del Mar, Valparáiso, Concepción, and Santiago.
You can find Clickypass in four cities of its native Argentina; Buenos Aires, Córdoba, Mendoza, and Rosario. It has alliances with over 1,000 sports centers across the country. It also has the same “one subscription-only” model for every gym available.
“There is no other fitness membership with a scope of such magnitude as ClassPass,” said Ezequiel Bucai, CEO of Clickypass in a recent press release.
One pass to rule them all
Collaborative work is crucial to catalyzing big ideas and proposals, thus allowing for the improvement of an industry. Closing the doors to the competition isolates you from having better options.
This competitive-collaborative vision was already shared by the two recently acquired Latin American startups. According to a press release from the MuvPass’ CEO, Javier Araya “Clickypass and MuvPass were already working together to consolidate our position as the largest fitness network in Latin America.”
Seeing this synergy between Argentinians and Chileans, it’s easy to deduce that the opportunity presented to ClassPass to carry out this double acquisition was a byproduct of the collaboration between MuvPass and Clickypass.
It is also important to consider ClassPass’ entry into Brazil in December of 2019.
With a better understanding of the market and the existing opportunities in Latin America, with its high population indexes, ClassPass will probably soon decide to further expand and acquire local talent on Gympass‘ home turf.
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Translated by Alejandra Rodríguez