Boutique fitness brand unveils investment and expansion plans
Leeds-based boutique workout studio RYDE has attracted new funding to fuel plans to expand beyond the city.
The brand, founded by entrepreneur Kyle Harris, has attracted a six-figure investment and appointed influential investor Richard Flint as chairman as it eyes new locations across the UK to build on success in Leeds.
The business has identified Manchester city centre for its next high-tech, full-sized cycle studio with details due to be revealed later this spring.
RYDE Founder and CEO, Kyle Harris, said: “From day one the plan was to expand RYDE once we’d established a strong community in Leeds and the past year has just been incredible.
“As well as welcoming hundreds of loyal members into the studio, we’ve been touched by the kindness and generosity of members when it comes to our charity events.
“RYDE isn’t just about working out in a five-star boutique environment, it really is a community and a lifestyle.
“I couldn’t be more thrilled to welcome Richard into the mix, he’s already been making a positive impact on the business as a seed investor.”
Flint is the former CEO of Sky Bet and has worked with brands such as Seat Unique, LAD Bible, and Butternut Box.
He said: “I am really pleased to be deepening my involvement with Ryde by becoming chair and adding to my investment.
“Ryde has already created a friendly and inspiring fitness community in Leeds and the energy and warmth in the classes is brilliant.
“I have no doubt that Kyle and the team will make the Manchester studio a success and then look to expand into other cities.”
Law firm Addleshaw Goddard has advised RYDE on its plans, with specialists in both Leeds and Manchester helping on all aspects from corporate to property matters.
Corporate partner Carly Gulliver and Caera Lougran led the AG team on the investment side.
Gulliver said: “I know from personal experience how fantastic the RYDE offering is and we’re proud to be helping Kyle, Richard and the team take RYDE to the next level.
“RYDE is a brilliant example of an entrepreneurial Yorkshire brand with the potential to make a huge impact in the fitness and leisure sector and I’m sure this will fast pedal RYDE to even greater things.”
