Let’s start with some facts that you might not know about True Fitness .
Most of us know that True Fitness is operating in Malaysia,Singapore and Thailand.However, according to goodyfeed.com True Fitness is also operating in Taiwan and China as well.There are total of 5 branches including True Yoga in Taiwan. Click here for taiwan’s location ,there are two branches in China, both in the city of Xiamen in southeastern Fujian province.
As we all know, True Fitness in Malaysia and Thailand already ta pao (closed down) .However,according to tnp.sg ,at the same time True Fitness is planning to expand 20 more branches into China over the next 3 years,and goodyfeed.com mention that the company is looking to be listed on the Hong Kong Stock Exchange as well.According to worldometers.info , the population of China is sitting at 1387912432 (as at 11/6/2017 7:43pm,Malaysia time) ,every 10 seconds a new baby will be born.
CHINA 1387912432 populations
MALAYSIA 31141724 populations
THAILAND 68289376 populations
(numbers above are as true as at 11/6/2017 7:43pm,Malaysia time,according to worldometers.info )
Well , even the combination of Malaysia + Thailand ,cant beat the population in China!
So,who is the taugeh behind the expansion of True Fitness over China?
According to businesstimes.com.sg ,True currently owns and operates 26 fitness and yoga centres in Singapore, China and Taiwan, with an annual turnover in excess of US$100 million.
Tongfang Kontafarma is the main boss behind this expansion.Tongfang Kontafarma Holdings Limited, is an investment holding company, engages in the manufacture and sale of cement, clinker, and slag in the People’s Republic of China(source bloomberg.com ) . This company is planning to inject an initial of US$5 million in cash into the business to help fuel the growth of this franchised model in China.
According to the businesstimes.com.sg , the booming health, fitness and leisure industry in China is expected to be worth some 3 trillion yuan (S$607.4 billion) by 2025.
3 trillion yuan (S$607.4 billion) !!!!
So,why True Fitness is expanding into China? Well,the answer is pretty obvious.
Do you have any comment regarding the gym industry in Malaysia?