Evolution Wellness

Overview

Following our original investment in Celebrity Fitness, Navis merged Celebrity Fitness with Fitness First Asia to create Evolution Wellness in 2017, bringing together the two leading fitness brands in Southeast Asia. Together, they form part of the largest health and wellness platform in the fast-growing Southeast Asian region with over 375,000 members across 166 clubs.

Investment Rationale

  • Relatively immature markets experiencing high growth as a result of increasing health and wellness awareness and rising disposable income
  • Complementary customer profiles, discrete brand identities, and varied country penetration
  • Significant revenue, operating and cost synergies from brand distinction, employee engagement, marketing efforts, back office alignment and best practice sharing
  • Sufficient scale to innovate and develop proprietary group fitness and wellness programs, including the introduction of dual brand passport memberships, as well as leveraging technology for an enhanced member experience
  • Opportunity to consolidate and rationalize a fragmented and inefficient Southeast Asian health and wellness market via an innovative platform of scale

KEY FACTS

SECTOR
Consumer

HEADQUARTERS
Malaysia

INVESTMENT DATE
February 2017

NAVIS OWNERSHIP
73%

Value Add

  • Led the PMO for the integration of the two companies, focused on realizing merger synergies and club improvement
  • Developed dual brand strategy by country to increase market reach and clear positioning of value proposition
  • Led acquisition of Fivelements, a premium integrated wellness brand, and Chi Fitness, a low-cost low-frills fitness operator, to complement segment offerings
  • Supported conceptualization of alternative club formats, as well as expansion into new wellness-focused products and services
  • Facilitated cross-sharing of marketing knowledge and collaboration between Evolution Wellness and other Navis portfolio companies

Looking ahead

Coming together under the Evolution Wellness umbrella allows the company to operate with increased scale, reach and efficiency. The management team is committed to enhancing members’ experience through continued expansion of club networks, faster innovation and product evolution, as well as improved service standards. Evolution Wellness has evolved beyond fitness and into the health and wellness space, with the recent acquisition of eco-wellness retreat Fivelements supported by multiple core initiatives.