Xponential Fitness Inks Master Franchise Agreement In Japan For Rumble & AKT - Xponential Fitness (NYSE:XPOF)

Xponential Fitness Inc XPOF has signed a Master Franchise Agreement in Japan for Rumble and AKT.
The agreement was signed with Wellness X Asia, Xponential's existing Master Franchise Partner in Japan for Club Pilates and CycleBar.
Wellness X Asia will be responsible for the country-wide development of Rumble and AKT, along with Club Pilates and CycleBar.
Wellness X Asia is led by Japanese entrepreneur Naoki Shimabukuro who is also the Founder of the franchise marketing agency, Idealink Co Ltd.
Shimabukuro acquired the Master Franchise rights for Club Pilates in 2019, which marked Xponential's first international agreement.
The agreement provides the Master Franchise Partner with the opportunity to license a minimum of 100 new studios over the next 8 years across the two brands.
Wellness X Asia's first CycleBar studio will open in early 2023, followed by its first Rumble and AKT studios expected to open in late 2023.
"The Japanese market is ready for world-class boutique fitness options like Rumble and AKT, and we are excited to ramp up our growth in this strategically important market," said chief international development officer John Kersh.
Price Action: XPOF shares are trading higher by 1.41% at $22.67 on the last check Monday.
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