Fitness Companies Close Studios in Singapore; New Alliance Formed
1 report, 1 independent
Updated Sep 1
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
True Fitness and True Yoga have closed all their studio locations in Singapore. This closure follows a period of intense competition in the market. The parent company, Kontafarma, cited unprecedented challenges, including the rise of online training options and dedicated residential gyms.
From channelnewsasia.com
Why it matters
The market pressures leading to the closures reflect broader industry trends in Singapore. The competitive landscape has seen big box gyms lose ground to smaller boutique studios and budget chains. These factors are impacting the viability of established fitness models.
Kontafarma is facing liquidation due to market competition and rising costs.
From channelnewsasia.com