Brazilian businessman Edgard Corona, well-regarded in the realm of fitness since the mid-90s, is no stranger to innovation. After launching the renowned Bio Ritmo, a line of luxury gyms targeting the higher-income brackets, he soon recognized an opportunity to shift the paradigm. Corona set his sights on a more egalitarian vision for fitness, one that would provide quality facilities at a more accessible price point.
This wasn’t a whimsical idea; it was grounded in exhaustive international research, leading him to identify an emerging trend: affordable gyms that didn’t compromise on quality, from state-of-the-art equipment to modern aesthetics.
With ambitions sky-high, Corona’s aspirations for Smart Fit aren’t modest. He envisions the brand reigning supreme across Latin America’s gym landscape. The trajectory seems promising: today, Smart Fit has a presence in over 13 nations and has made a significant move in the business world by going public in March 2023, with shares opening at R$ 23. If the CVM-prospectus is any indication, the brand’s strategy leans heavily into acquisitions and expansive growth throughout Latin America.
The force behind SmartFit’s rapid growth and expansion can be attributed to robust financial backing. Key players include Brazil’s Patria Investimentos and the globally-recognized GIC, Singapore’s sovereign wealth fund. This infusion of capital and strategic partnerships has fueled SmartFit’s march into various territories, from the Dominican Republic and Colombia to Mexico and Peru. One notable acquisition, a testament to SmartFit’s aggressive expansion strategy, is the Chilean gym conglomerate, Inversiones O Dos.
Still headquartered in Sao Paulo, SmartFit (officially known as SmartFit Escola de Ginastica e Danca) has burgeoned to an impressive count of 352 fitness centers. To put this feat into perspective, the brand currently holds sway over a full 1% of Brazil’s entire gym market. The momentum behind SmartFit, driven by Corona’s vision, seems set to redefine the fitness landscape across Latin America. Refer to this page for additional information.