Barbells & Biomarkers

Most Expensivest

On Tuesday, almost every major media outlet ran a story with some variation of the following headline:

Shock value aside, the price point is nothing new.

Equinox’s white glove membership, E by Equinox, costs ~$26K per annum.

Nonetheless, this commitment is a testament to the growing biohacking movement that high earners are buying into.

Let’s look at why Equinox’s approach is unique + how the luxury gym landscape compares

From the Source

Julia Klim is the Vice President of Strategic Partnerships and Business Development at Equinox, part of a 12 person C-Suite Executive Team that reports directly to the Executive Chairman.

I talked with Klim yesterday to get a better understanding of the Optimize offering. Here are the main takeaways:

  • The company is partnering with Function Health to unlock a new level of biohacking for Optimize members. Membership includes 3 personal training sessions a week and 2 monthly sessions with nutritionists; a 16 hours per month package.

  • Initial locations will be in New York City and Highland Park, Texas, before expanding to other locations. Klim emphasized that the company plans to scale the Optimize membership slowly due to protect quality. There were no comments on exact timeline, but plans are in place to eventually bring Optimize to most locations.

  • Equinox is looking to be a first mover in this space, and Klim noted Optimize “is just one of many strategic initiatives in longevity” that they are working on.

❝

Equinox has always anticipated consumer needs… We launched (Optimize) because we believe it’s in the future of where coaching should be going for everyone and we want to set the standard for it.

Julia Klim, VP of BD @ Equinox, to mainstreet

Story of a LifeTime

Equinox’s most direct competitor is LifeTime ($LTH), a public holding group that owns and manages fitness and recreational sports centers.

  • 210 locations

  • Was taken private by TPG and Leonard Green & Partners in a $4B LBO in 2015

  • Went public again in 2021 in an IPO

  • ~$3B market cap | ~$7.3B enterprise value

Although the gym operator does not have a similar biohacking package, members have the option to book personal trainers and use data to reach their health goals.

  • Booking a trainer costs $110-150; assuming 16 sessions a month + $300 / month in membership fees, the annual price point for LifeTime’s all-out service would be ~$29,000.

  • LifeTime recently piloted a new longevity clinic, MIORA, that offers comprehensive testing and personalized health plans. They launched in Minneapolis but are yet to enter the NYC market due to the regulations and legal tape that they are working around.

The biohacking market is currently worth $23B+ and projected to grow significantly throughout the next decade.

It will be interesting to see how other luxury gym operators respond to Equinox’s bet on the future…

Headlines

  • Chinese EV maker Zeekr’s shares indicated to open up to 19% above IPO price. Reuters article here 

  • New Bridgewater Associates CEO says he has “rewired” the world’s largest hedge fund. FT article here

  • CalSTRS pension approves allocation to flexible investment strategy. Buyouts Insider article here

  • NIL college basketball tournament with millions in prize money is nearly finalized. CBS Sports article here

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