Upscale gym chain Equinox is in talks to acquire popular spin studio SoulCycle, the New York Post is reporting.
Equinox is said to be planning a $15 million to $25 million acquisition of the spinning studio, with plans to rebrand its own in-house spinning studios under the SoulCycle name.
Sources told the Post the acquisition may signal that SoulCycle has had trouble keeping past with its rival studio Flywheel, which was founded about a year ago by former SoulCycle instructor Ruth Zukerman.
Flywheel is said to have been attracting new clients with more spacious studios and high-tech bikes. Its regulars reportedly have included Ivanka Trump, Jimmy Fallon and Katie Couric.
Read more at NY Post.