YOGAWORKS EXPANDS FOOTPRINT WITH ACQUISITON OF TRANQUIL SPACE STUDIOS IN D.C. AREA
YogaWorks (YOGA) has announced the purchase of 2 Tranquil Space yoga studios in the D.C. metro area; including their Dupont Circle location, which was named one of the Top 25 yoga studios in the world. YOGA will retain all Tranquil Space teachers/staff and continue to offer existing programming at both locations. The acquisition, which comes less than 30 days after the company’s $35 million IPO took place (Aug. 11), brings the yoga instruction company to 52 studios in 7 markets.
Fan Marino: The yoga market is growing. 20 million participated in 2012, 36 million practiced in 2016 and that number is expected to grow to 55 million by 2020.
Howie Long-Short: YOGA has gone from $13 in a preliminary offering to $5.50 at time of IPO to $3.80 at the time of print, with $2/share in cash. Why are revenues down if the yoga market is growing?