Relevant data show that the size of China's gym market in 2017 reached RMB 90 billion, and it is predicted that this figure will reach around RMB 223 billion by 2020. Keep wants a big piece of this RMB 100 million market. Its offline stores “Keepland” will accelerate the expansion, hence the opening of four new keeplands in just three days.
The three new stores in Beijing are located in Liangmaqiao, Changying Hualian, and Fangdian.
The Liangmaqiao Keepland opened on March 2nd and is located on the 2nd floor of a shopping mall. The overall space is 252-meter square, of which the workout area covers 110-meter square, and the rest is covered by various small workout equipment.
Changying Hualian Store also opened on March 2nd and is located on the 2nd floor of Hualian shopping mall. The gym covers an area of about 200-meter square.
Beijing Fangdian Keepland officially opened on March 4th, located in Building 2 of Dashilan Beijing square. It has three different areas with different functions: the leisure area is used for the heart rate bracelets, tech area compromises of advanced gym equipment, and the rest is the exercise area with space-themed walls. The dressing area is cleverly connected to the leisure and fitness area with soft lighting.
While accelerating the expansion of the Beijing market, Keep also began cross-regional expansion, by officially opening Keepland in another city, Shanghai.
On March 2nd, Keep officially opened its first Keepland in Shanghai, located on the 5th floor of Jing'an Joy City, which covers an area of 300-meter square. The area consists of a workout hall, changing room, reception and a lounge. The store still focuses on "pay-as-you-visit" small group classes.
In addition, the location of second Keepland in Shanghai has been confirmed, it will be located in Changfeng Joy City, though the opening date has not been announced yet.
Keepland teamed up with Marvel's superhero film "Captain Marvel" to create an IP course. Captain Marvel! Marvel fans are going to love this.
Keep was launched on February 4, 2015, and has more than 100 million users. On March 21, 2018, almost a year ago from today, Keep officially announced its first offline gym and called it "Keepland", and by the end of 2018 Beijing had five Keeplands.
In 2019, Keep accelerated their offline expansion, and opened five stores in less than three months, reaching the total number of stores opened last year in just three months. In addition to the above four new stores, Keep also opened a new Keepland in the CBD Fortune Shopping mall on January 14.
In July 2018, Keep announced the completion of its USD 127 million D-round of funding, led by Goldman Sachs, Tencent, GGV Jiyuan Capital, Morningside Capital, BAI (Betasman Asia Investment Fund) and other old shareholders. Keep had five rounds of financing before, and had accumulated a total of USD 60 million.