Source: eKapija | Friday, 19.07.2019.| 11:56
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French giant Up Group to invest in Serbian FitPass

While the Serbian economy expects an increase in French investments after the visit of the French president, Emmanuel Macron, a local company has already secured a French investment. FitPass, a leader in the Serbian sports market, whose system features 1,200 sports facilities, has managed to interest the French giant Up Group in investing in the company.

FitPass has officially announced the new partnership and the sale of a share of its capital to the French multinational company, which operates in more than 30 countries worldwide. Although it already holds the dominant position in the markets of Serbia, Bosnia and Herzegovina and Georgia, FitPass will now be able to develop even faster through cooperation and constant financial, operating and educational support of the French partner, the press release says.

By investing in FitPass, Up Group is expanding its services, which their clients can provide for their employees. Now, in addition to benefits regarding food, vacations, various services and cultural and artistic activities, they are also adding sport.

Up Group plans to offer this benefit to its base of several hundred thousand companies, as this will improve the employees’ status and increase the percentage of their staying employed. The FitPass benefit will initially be presented in 5 countries.

– Investing in the FitPass product fits perfectly with our main strategic priorities: to diversify our offer and strengthen our international presence. This solution, which enables access to physical activity, especially when it comes to employers’ relation to their employees, is a response to the new expectations of our clients and benefit users. It’s very important that the solution contributes, in a wider sense, to the policy of public health and well-being, which is recognized and accepted within the World Health Organization – emphasizes Youssef Achour, the president and CEO of the group.

Ognjen Radic
Ognjen Radic, the director of FitPass, points out:

– The interest of Up Group in our company is a great honor for us and a remarkable opportunity for our further development. The all-encompassing complementarity between FitPass and Up Group through elements such as benefits for employees, expertise, history and values, and especially the international presence, enables the intensity of expansion. We have just won the next 10 years, a whole decade.

FitPass innovative solution for the growing international market

The fitness market is growing exponentially on a global level, and the trend is the most noticeable in Europe. It is there that the number of sport memberships has been growing by 4% on average each year since 2016, which has led to the number of over 60 million users in 2018, with an income exceeding EUR 25 billion.
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