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New Asian territories for Vivafit franchise
Women-only fitness franchise Vivafit has signed a master franchise agreement for four southern states of India - Andhra Pradesh, Kamataka, Kerala and Tamil Nadu - with the first gym set to open in August in the city of Bangalore.
With this agreement, the Portuguese brand now holds two agreements in India, with another expected for the state of Maharastra before the end of the year.
Vivafit has also signed its first contract for Malaysia - the seventh country for the company - which allows for the opening of up to 200 gyms in that market.
The contract was formalised at the end of May between Pedro Ruiz, Vivafit CEO, and Cecile JamoulleÖgren, who also holds a contract to open 100 gyms in Singapore.
The first Vivafit centre in Malaysia - and the sixth in Asia - will open within a few months and will be located in Kuala Lumpur. Before the end of 2012, Vivafit foresees the opening of at least two other centres in Singapore, and is negotiating its entry into the Indonesian market.
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