After a raise of 2 million euros, Let’s Ride gives a new pedal stroke and announces the acquisition of Dynamo Cycling. The goal? Become the European leader in indoor cycling, this sport that nothing stops in its wake in recent months.
Created in 2015, Let’s Ride and Dynamo Cycling , specialists in indoor cycling announced today their merger. The new network, which will retain the name Dynamo Cycling, will be led by Jonathan Garret, Nicolas Chabrier and Steph Nieman, co-founders of Let’s Ride. The founders of Dynamo, they could sail to other horizons as specifies Jonathan Garret, co-founder of Let’s Ride, become Dynamo Cycling: ” The founders of Dynamo help us on the transition then think about other projects. “
The choice to keep the name Dynamo, for the benefit of the company that bought it, seemed to him the most strategic one: ” Dynamo was the first to launch and has a strong reputation that follows and it was important to integrate the Dynamo teams into our project “. This merger, a new stone in the construction of a European giant, comes a few months after a raise of 2 million euros made by Let’s Ride from Otium Consumer, a fund that includes holdings in Feed, OhMyCream etc.
” This operation fits perfectly with the project we share with the founders of Let’s Ride to create a leading European group in the fitness market. We are very positive about the outlook, especially with other operations under study on complementary concepts, in a rapidly changing market “
Antoine Fine, Partner at Otium Consumer
A market of 26 billion euros
The indoor cycling, born in the United States 12 years ago, arrived in France a few months ago and knows unlimited growth since. The market is estimated at more than 26 billion euros and is carried by major US brands such as SoulCycle or Flywheel. The new ensemble has four studios in Paris in the 2nd, 8th, 9th and 11th arrondissements and intends to make even more followers with this concept in Europe.
At Dynamo Cycling, nearly 6,000 people go beyond pedaling every week and experience a new sporting experience. In studios (fitness shops) with licked design, on wild music and under the rhythmic injunctions of coaches, cyclists pedal for 45 minutes in a dark room, lit by candles. Far from the Véronique and Davina period indoor bike, the indoor cycling still has this in common with the two fitness stars of the 80s: to unite a real community around the same practice.
” Each of our two teams has managed in less than three years to create a real community and a craze around indoor cycling, upsetting sports consumption habits in France “
Leon Buchard, co-founder of Dynamo Cycling.