Who We Are
Smart Fit (SMFT3), is the market leader in clubs across Latin America, the world’s fourth largest chain in membership, whose mission is to democratize access to high-standard fitness, quality of life and wellness.
Currently, the Company is present in 15 countries across Latin America, leading in the five largest countries: Brazil, Mexico, Colombia, Chile, and Peru, in terms of active clients, operating under the HVLP (high value low price) model with Smart Fit brand.
Since its founding in 1996, with the opening of the first Bio Ritmo gym, in the premium segment, the Company has maintained a strong culture of innovation. This culture enables continuous improvement in the customer experience and productivity of its gyms, while also preserving the distinctiveness of its value proposition compared to other offerings in the fitness market.
In 2009, the Company was a pioneer in the HVLP (high value low price) model in Latin America with the opening of the first Smart Fit gyms in Brazil. The total number of gyms in the group increased from 55 on December 31, 2011, to 1,529 as of June 30, 2024, reflecting an average annual growth rate of 31% (from 2011 to 2023).
Of the total gyms in operation as of the end of June 2024 (1,529), 736 are located in Brazil, 339 in Mexico, and 454 are distributed across Argentina, Chile, Colombia, Costa Rica, Paraguay, Peru, Panama, Uruguay, El Salvador, Ecuador, Guatemala, the Dominican Republic, and Honduras. Smart Fit ended 2023 with a presence in over 380 cities.
As of the end of June 2024, the Company’s active customer base (including digital customers) reached 5 million, compared to 120 thousand customers on December 31, 2011, reflecting an average annual growth rate of 35% from 2011 to 2023. This accelerated expansion over time was achieved through a successful combination of new gym openings in Brazil and international expansion into new Latin American markets, as well as investment in digital platforms. The Company’s value proposition has enabled accelerated growth regardless of the macroeconomic environment, demonstrating the resilience of its business model.
In addition to Smart Fit gyms in the HVLP (high value low price) segment, the Company operates premium gyms primarily under the Bio Ritmo brand. The premium service offering is crucial for launching, developing, and refining new concepts and trends in the fitness market, consistent with the spirit of continuous innovation that has always characterized the Company.
In the Studio concept, the Company operates with the following brands: Race Bootcamp (high-intensity interval training – HIIT), Tonus Gym (weight training), Vidya Body & Mind (a studio offering various modalities of Yoga), Jab House (a mix of boxing and functional training), and One Pilates (with its first studio launched in the first quarter of 2024).
Additionally, the Company includes TotalPass in its portfolio, a corporate benefits platform that serves as an aggregator in the B2B fitness market in Brazil and Mexico, which allows associated companies to offer their employees access to various partner gyms and studios, including those of the Smart Fit and Bio Ritmo brands.
