Club Pilates: mixed signals
Club Pilates is simultaneously being cited as executing a major expansion—claiming 50% growth and about €15m in revenue for 2026—and singled out in reports that franchised brands face slowing growth, according to recent social posts. The expansion claim appeared in a Club Pilates–linked post while a separate thread noted Xponential Fitness reporting slowdown and brand contractions, suggesting competing public signals about franchise momentum. (x.com) (x.com)
Club Pilates is putting out two very different growth stories at once: rapid expansion in Spain, and a parent company reporting slower franchise momentum. (2playbook.com) (investor.xponential.com) In Spain, Club Pilates said on April 15 that it expects 2026 revenue of €15 million, up 50% year over year, and 13,000 members, up 30%. The chain said it has 32 operating clubs after openings in Alicante and Castelldefels on April 13. (2playbook.com) That Spanish push has been building for months. In February, 2Playbook reported Club Pilates planned up to eight openings in the first half of 2026, backed by €2.5 million of investment, after ending 2025 with 26 clubs and €10 million in revenue in Spain. (2playbook.com) The wider Xponential Fitness picture looks slower. Xponential said on February 26 that North America same-store sales grew 0.5% in 2025, down from 7% growth a year earlier, while fourth-quarter same-store sales fell 4% and full-year revenue slipped 2% to $314.9 million. (investor.xponential.com) The company also said it sold 179 franchise licenses and opened 341 gross new studios in 2025, while North America system-wide sales rose 13% to $1.75 billion. Those figures show expansion continuing, but at a time when store-level sales growth has weakened. (investor.xponential.com) Club Pilates sits inside that larger franchise system. Xponential describes Club Pilates as its Pilates brand, and a January 2025 Capitol Forum report said Club Pilates and StretchLab were still adding studios while several other Xponential brands showed stagnation or declines in studio counts. (sec.gov) (thecapitolforum.com) That helps explain the split screen. A country master franchise can post fast local growth even while the public parent reports slower same-store sales and uneven performance across brands. (2playbook.com) (investor.xponential.com) Club Pilates’ Spain operator has framed the current plan as profitable growth, saying it finished 2025 with EBITDA above 30% and is still targeting more than 40 centers in Spain during 2026. Xponential, meanwhile, has told investors it is refining priorities for long-term growth after a year of softer comparable sales. (2playbook.com) (investor.xponential.com) So the cleanest read is not that one side is wrong. Club Pilates appears to be expanding quickly in Spain, while Xponential’s latest public numbers show a franchise platform still opening studios but no longer posting the same pace of underlying sales growth. (2playbook.com) (investor.xponential.com)
