Interactive Strength Inc. (Nasdaq:TRNR) Secures Exclusive Distribution for CLMBR with PrimaFit in Fast-Growing Indonesia and Already Receives Second Order in Third Quarter
PrimaFit, based in Jakarta, is the leading distributor of best-in-class brands in Indonesia and will represent CLMBR exclusively
Indonesia is the largest economy in the region and is a G20 country with high GDP growth
PrimaFit received its initial order in July and placed a larger second order in September that combined is almost six-figures
AUSTIN, TX / ACCESSWIRE / September 26, 2024 / Interactive Strength Inc. (NASDAQ:TRNR) ("TRNR" or "the Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, today announced that, it has secured exclusive distribution and received two orders in the third quarter for CLMBR in the fast-growing Indonesia with PrimaFit, the leading distributor of best-in-class brands in the country.
Trent Ward, Co-Founder and CEO of TRNR, said: "Indonesia is a very fast-growing economy that is already in the G20 and is expected to continue to climb in world rankings of large economies. PrimaFit is the leader in the country and have done a great job for other brands such as LifeFitness, Woodway, TRX and StairMaster, and we are excited to partner with them."
"PrimaFit received an initial order of 10 units earlier in the third quarter and following on the success they had with those units, they already returned with a second order for 22 units this month, which is a fantastic sign of the potential for CLMBR in the country. One of the country's premium boutique operators is pioneering a boxing-driven circuit class focused on CLMBR and has high expectations for growing the format in Indonesia."
"We expect to sell to at least ten international distributors or key accounts this year," Mr. Ward continued, "and we believe the international sales opportunity will be similar in size to the opportunity in the US given countries like Indonesia. As we announced earlier this week, CLMBR passed compliance tests for the European Union and we will start fulfilling European and UK orders immediately, with expectations for additional countries to place orders in the fourth quarter."
"The third quarter results are expected to demonstrate a step-change in the revenue profile of the business and we have higher expectations for the future now that we are able to access some of the largest fitness markets outside of the United States for the first time," Mr. Ward concluded.
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About Prima Fitindo Jaya PT:
PrimaFit is Indonesia's leading supplier of world class fitness equipment and services. PrimaFit started in 1988 with an idea, and a vision - enjoyable fitness solutions for a health appearance and longevity. Out of this vision PrimaFit brought the world's finest brands of fitness equipment to Indonesia. After establishing market dominance in hotels, resort, apartment and commercial fitness clubs, PrimaFit expanded to change the Indonesian retail experience, bringing improved health, appearance and longevity to a wider audience.
The group has done this successfully through the network of Retail stores, as a Commercial supplier of premium brands with major gym chains like Celebrity Fitness and 5 star hotels, educational efforts at PrimaFit Academy, Fitness Clubs (LifeSpa Fitness), Crossfit Senayan - the famous fitness brand from USA, and also an online store okfitness.com. "Looking Better, Feeling Better and Living Longer" is a journey we are happy to follow together with the customers and clients - through our clubs,shops, home workouts, group activities and general education on fitness certification, and nutrition advice.
About Interactive Strength Inc.:
Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol: TRNR).
CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout. CLMBR's design is compact and easy to move - making it perfect for commercial or in-home use. With its low impact and ergonomic movement, CLMBR is safe for most ages and levels of ability and can be found at gyms and fitness studios, hotels, and physical therapy facilities, as well as available for consumers at home. www.clmbr.com.
FORME is a digital fitness platform that combines premium smart gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic fitness experience through two connected hardware products: 1) The FORME Studio Lift (fitness mirror and cable-based digital resistance) and 2) The FORME Studio (fitness mirror). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. www.formelife.com.
Forward Looking Statements:
This press release includes certain statements that are "forward-looking statements" for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management's assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as "believe", "project", "expect", "anticipate", "estimate", "intend", "strategy", "future", "opportunity", "plan", "may", "should", "will", "would", "will be", "will continue", "will likely result" or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the possibility of future international orders or demand for CLMBR's or the Company generating revenue from sales of CLMBR or the Company selling to additional countries or the macroeconomic outlook or GDP growth of Indonesia or its distributor there. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: demand for our products; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand for our products and adequately maintain our inventory; and our reliance on a limited number of suppliers and distributors for our products. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.
SOURCE: Interactive Strength Inc.
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