Budget fitness chain Pure Gym has gone upmarket after launching a luxury fixed cycling studio in the City.
The company, which is eyeing a stock market float, said Pure Ride opened today at Moorgate will offer up to 60 cycling classes a week, including high-intensity workouts developed with Olympic cycling champion Sir Chris Hoy.
Classes cost between £16 and £20 per session – almost as much as a monthly membership at one of its local London gyms. However, the Pure Gym hopes to attract cyclists with clip-in shoes, fresh towels and "luxury toiletries" also included in the fee.
There are already several fixed cycling studios vying for attention in the capital including Boom Cycle, Cyclebeat and Edge Cycle. But chief executive Humphrey Cobbold said having Hoy on board will give Pure Ride the added edge.
He said: “This is clearly a new segment of the fitness market for us, but it remains true to our overarching mission, which is to offer fabulous fitness experiences and to make great exercise opportunities accessible and appealing to as many people as possible.
"We know in London, particularly in the City, that there is an increasing demand for premium, high intensity pay as you go fitness and we have developed a product to serve that market.”