Psycle to double portfolio of studios

Boutique fitness brand Psycle is set to launch three more studios in London, with the first due to open in April.

After securing £3m (US$4.1m, €3.4m) of investment, the business will double its presence in the capital, adding to its existing studios in Shoreditch, Canary Wharf and Mortimer Street.

The location of the new studios is being kept secret by Rhian Stephenson, but during an interview in the latest issue of Health Club Management, Psycle chief executive Rhian Stephenson outlined the potential for further growth.

“We’ve talked about expanding beyond the UK at some point, but before we do that, we want to be sure we have a solid and mature core offering in London,” she said.

“Expanding internationally before that would be too much of a distraction, but we're talking about whether we want to franchise once we have that solid standing, or if we’ll expand under our own brand.”

Since taking over as chief executive of the company in 2014, Stephenson has expanded Psycle beyond cycling, with studios offering barre, HIIT and yoga.

Despite being in “mixed minds” about offering different types of fitness classes, she said: “We couldn’t honestly call ourselves a brand that stands for health and then only do cardio.”

To read the full interview click here.