Type Subsidiary Number of locations 74 Founded 2006 | Headquarters New York Website soul-cycle.com Parent organization Equinox Fitness | |
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Founders Julie Rice, Elizabeth Cutler, Ruth Zukerman CEO Julie Rice (Apr 2007–), Elizabeth Cutler (Apr 2007–) Profiles | ||
A fireside chat with soulcycle co founders elizabeth cutler and julie rice
SoulCycle is a New York City-based fitness company with studios in nine U.S. states. Founded in 2006, it offers indoor cycling (also known as "spinning") workout classes.
Contents
History
Elizabeth Cutler, Julie Rice and Ruth Zukerman founded SoulCycle in 2006. SoulCycle's first studio was on the Upper West Side. The three were self-funded; a large amount of the money coming from Cutler’s investment in Izze Beverage Co.
Rice, a talent agent prior to the beginning of SoulCycle, obtained her fitness passion from her father who was a physical education teacher. Rice developed SoulCycle to change New York’s attitude towards exercise being more of a requirement, and less of a social experience like it is in L.A.
Rice’s husband is the Chief Marketing Officer and Cutler’s husband came up with the name.
Villency Design Group, founded by Eric Villency designed the signature SoulCycle stationary bicycle. Villency Design Group engineered the SoulCycle bike seat as a “split seat” to relieve pressure and discomfort found in conventional bike seats.
In 2011, the company was acquired by the Equinox Fitness subsidiary of The Related Companies and now operates as one of their brands.
As of 2016, SoulCycle has opened 85 locations in the United States. SoulCycle offers classes to all age groups with approximately 20,000 people riding at SoulCycle every week and about 440,000 active riders.
The company employs 1,500 people.
The company’s reported revenues in 2014 were $112 million, 50% greater from the previous year.
Soul Cycle offers some free fitness classes for at-risk teens in New York City.
In a Los Angeles Times article James Fell wrote about SoulCycle. He approved of the company's approach to entertain and motivate its customers, saying he encourages, "the importance of finding an exercise you love and embracing it with fervor." Where they lose favor with Fell is their focus on upper body exercises while spinning on the bikes. He feels it is useless and unsafe, and quotes other experts who agree with his position. Fell is also concerned that the co-founders do not have certifications in any type of exercise. Business Insider calls Fell an expert and quotes his Times article saying, he gives SoulCycle a '"failing grade for exercise physiology and biomechanics"'.
Services and market
The firm operates on a pay-by-class model and does not offer memberships. The indoor cycling classes features spinning, as well as hand weights, choreography to create a full-body workout. They also sell SoulCycle exclusive apparel as well as an option to purchase their signature SoulCycle bike.