Innovation

Equinox is known for its several lifestyle brands such as luxury gyms, hotels, Blink Fitness, SoulCycle, etc. It was founded by the Errico siblings, Vito, Lavinia, and Danny. Equinox believes that fitness can empower a life well-lived, thus promoting good health and wellness for members.

Equinox is constantly changing and innovating its business to fit the needs of its members. During the pandemic, due to the closures of gyms, Equinox was forced to pivot. According to Declan Julien, our interviewee, they started to focus more on the digital aspect of their business. This was a challenge for the company as they were more known for their luxury gym experience. In order to follow the new shift in members' habits, Equinox followed Peloton's example and began the sale of stationary bikes where one could stream SoulCycle classes, according to Declan. They also launched the Equinox+ app which offered a variety of classes and holistic approaches to fitness. Declan also mentioned that “the physical and digital experience go hand in hand.” Equinox has been trying to distinguish itself from its competitors through a "tribrid" model, where they promote fitness at home, in the gym, and outdoors with their new outdoor gyms.

Though Equinox is known for its high-priced gyms, it is also branching out and providing a more low-cost model with Blink Fitness. With this initiative, they are making efforts to serve underserved markets. Through this venture, they are promoting good health and well-being in various ways. Blink will establish vending machines with healthy snacks in all of their locations and 10% of the proceeds will be given to causes fighting malnutrition and obesity. Equinox has been making strides to promote its mission to empower its members through fitness.

Inspiration

The major inspiration for creating the SoulCycle At Home, Proprietary Woodway treadmills, and the Equinox app, was the pandemic. “I don’t think the company would have ever shifted into this space without the pandemic happening. It forced the company to get creative and to do it fast,” said Declan. Roughly 100 locations closed during the pandemic and Equinox needed to shift gears to offer something to their members. Peloton had already paved the way, so there was not much to recreate. The question really was how Equinox could bring the luxury fitness experience into their members' homes. The bike and app allowed Equinox to bring its in-person classes to global members and the treadmill allowed customers to have more options.

Overall impact

Equinox’s SoulCycle bike has placed them in direct competition with Peloton. The app has also allowed the company to create a digital platform to bring them into competition with companies such as Nike. Despite closures, these pivots have allowed Equinox to still be strong and profitable. Equinox’s app has impacted society by being an affordable fitness app to connect with a renowned brand that brings the best fitness instructors to every member. Customers have no doubt that they will receive the best fitness advice, classes, and regimes needed to sustain or create a healthy lifestyle. According to Declan, “Equinox dedicates itself to providing every customer with a lifestyle experience, allowing each person to create their own experience through the various programs we offer.”

When asked about how the innovations have impacted the environment, Declan stated “the innovations may not have visible impacts on the environment, but due to the impact on the people, it can give people the confidence needed to go out into the world and be better at what they do. Fitness has a way of being the very thing that motivates people to go out into the world and be creative and forward-thinking. I have seen people come into the gym in the early hours of the morning to zone in on a workout to help prep the mind for the day they are about to begin. Could that type of motivation not be considered an environmental impact?”

In the short term, Equinox continued to give its customers access to fitness even outside the gym, but the long-term effects are positively infinite. Fitness is a way of life, not just something to do. Anything that brings the best out of people and challenges them to show up differently will always have long-lasting effects on society. The impact of Equinox changing its business strategy shows through its revenue performance, with competitors having to shift their business strategies due to new competition, and not only the people who use Equinox’s bike/app, but the people who work for Equinox. “I am the concrete evidence,” Declan says. “You can look up numbers and read articles about Equinox’s impact, but how often do you get to speak to the very people that have helped to make Equinox what it is? Equinox will always be a part of me. I use the Equinox app every day and still suggest it to people I come across. The lifestyle Equinox brings is truly unmatched and if I as a former instructor can tell you that, it’s worth something.”

Business benefit

Equinox’s innovation has helped them survive the pandemic and stay ahead of its competitors. Digital is the new wave in fitness and with their new implementations, they can reach their members anywhere, anytime. With the recent addition of products, classes, and services, Equinox is retaining members and drawing in new business. Equinox has been moving with its market and working to reach consumers of different backgrounds to ensure it stays relevant and promotes its mission of empowering members' health and well-being through fitness.

Social and environmental benefit

Equinox benefits society because it prioritizes health and wellness for its members. There is a direct correlation between having a healthy population and a stronger economy. When individuals are healthy, they can positively support economic objectives. Having guidance from some of the best trainers and instructors, both in person and virtually, pushes members to reach their full potential. According to our interviewee, Declan Julien, finding and building a community motivates members to live a better lifestyle mentally, physically, socially, and spiritually. This innovation keeps its members on track to reach their personal goals, which in turn gives them the power and ability to give back and serve their community and other individuals in society.

Interview

Declan Julien, Former Equinox group fitness instructor