FitnessBoutique, a Grenoble, France-based on and off-line specialist in the sale of fitness equipment and food supplements, has received a minority investment from AXA Private Equity.
AXA Private Equity, which acquired a 22% stake in the capital, will support the company in its efforts to accelerate its organic growth over the next 18 months. From the summer of 2011, FitnessBoutique plans to open stores at branches and franchises in France as well as a number of new stores in Europe.
Founded in 1999 by Director Stephane Viscuso, FitnessBoutique.fr operates a website in France dedicated to fitness, training equipment and dietetic products and has already expanded into Spain, Italy, Portugal, Belgium and Switzerland.
The company has also built up a network of stores throughout France. The Group currently owns 19 shops located in major cities including Paris, Lille, Lyon, Grenoble, Bordeaux, Marseilles, Montpellier and Toulouse.
In 2010, FitnessBoutique achieved a turnover of €21.4m, employing 35 people at its offices at Voiron (Isère) and 37 people in the stores of the group.