Xponential Fitness Inks Master Franchise Agreement For Its Fitness Brands In Kuwait

Xponential Fitness Inc XPOF has signed a Master Franchise Agreement in Kuwait for its brands Rumble, Club Pilates, StretchLab, and CycleBar.
The Master Franchisee for Xponential in Kuwait is the publicly traded real estate development company, Aqarat.
The deal signed with Aqarat will result in opening a minimum of eight studios early in the initial ten-year term of the agreement. Additional studios will be developed based on market opportunity.
Aqarat also has investments and joint venture agreements with several hospitality brands.
"Aqarat's extensive real estate and hospitality experience is perfectly suited for our customer-focused brands, and they are well-equipped to deliver our immersive studio experiences to the Kuwaiti population," said John Kersh, Chief International Development Officer of Xponential Fitness.
The agreement marks the continued expansion of Xponential Fitness outside North America.
Also Read: Piper Sandler Believes Xponential Fitness Is Poised For Solid Growth
Price Action: XPOF shares are trading higher by 2.06% at $19.58 on the last check Thursday.