London gym 1Rebel unveils at-home Peloton competitor
City gym studio 1Rebel has revealed a collaboration with equipment provider Technogym to take its rivalry with US fitness giant Peloton to the next level.
1Rebel is expanding into the at-home gym market, partnering with Technogym to develop an exercise bike and a wealth of both live and pre-recorded spin classes for fitness enthusiasts.
Since launching in 2015, the gym chain has expanded to five studios across London with one of the capital’s most popular ride classes.
1Rebel was valued at £36m earlier this year, a rise of 360 per cent, with plans to launch internationally in 2020. Co-founder James Balfour said he expects its valuation to “increase significantly” as a result of today’s launch.
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Available from today, 1Rebel’s RIDE LIVE will be open to users globally with unlimited streamable classes filmed inside its Victoria studio.
The at-home fitness market has experienced a boom in recent years thanks to the popularity of brands such as Peloton. Currently estimated at a global value of £4.9bn, data collated by Mintel estimates the sector will be worth £5.3bn by 2023.
“1Rebel has made its mark as a disruptor brand with a loyal following. Now, we want to
extend our ‘fitness as entertainment’ concept directly into consumer’s homes,” said Balfour.
“Not only will this partnership with Technogym allow us to challenge an existing market with our premium class offerings, it will transport consumers into our revolutionary Victoria studio, empowering RIDE members to take our bold and unapologetic values from their homes.”
The Technogym bike costs £2,450 with a monthly subscription cost to 1Rebel of £39, which is also available in monthly instalments.
Read more: Exercise startup Peloton narrows losses
Peloton debuted its shares on Wall Street in September to a muted reception in the wake of a string of lacklustre tech offerings. However it reported narrowing losses last month, as revenue rose 103 per cent.
Image credit: 1Rebel