Ritual Gym has announced the signing of an extended area development agreement in Spain, which plans for 10 locations in the next three years across the country.
The brand has signed the agreement with entrepreneur Ludovic Holdeberke, who learned about the brand and concept whilst studying for his MBA in Singapore. The brand first debuted in Europe in Madrid in 2018, but grew sufficiently in popularity that a unit opened in Zurich a year later.
After Holdeberke started his career at J.P. Morgan and eventually moving onto the Boston Consulting Group, he opened his Ritual Gym studio six months after getting his MBA. He plans to open a second and third location in early 2022.
The Ritual Gym franchise is owned and operated by Brad Robinson and industry veteran, Ian Tan. The brand was founded in 2013 in Singapore, and now has multiple locations across four continents. Offering high-intensity, 20-minute workouts, the Ritual method focuses on free weights and bodyweight movements designed to build strength with respect to the way the body is designed to move.
The extension of the area development agreement is a response to the partial resumption of business as usual after COVID-19 instituted lockdowns the world over and paused any plans the brand had. In that time, the fitness franchise developed a home workout app, Ritual FIT. The app has now become a standalone product in its own right.
“This new Spanish agreement, along with our previously announced development agreements, means Ritual Gym now has commitments for almost 20 international studio locations,” said Sharma Das, COO of Ritual Group.
“Ludo and his partners have carried the brand extremely well through the pandemic and we’re looking forward to our expansion within the region.”
