Hold on to your padded bike seat: there’s a chance that in the future, you could own a whole lot more of SoulCycle than just a drawer full of skull-printed leggings and a SuperSoul membership.
Rumors are spinning that the boutique cycling brand might be going public, according to Reuters. Sources say that the founders of SoulCycle have been working with Goldman Sachs to consider their options for their leftover stake in the company (they sold the majority to Equinox nearly four years ago). And an IPO that would make the private company available to the public on the stock exchange is one of them.
It would be a characteristically groundbreaking move for the brand; there aren’t many—if any—boutique fitness studios that are public. There’s Lifetime Fitness, the national gym chain with 113 clubs across the country, which is on the stock exchange—and Planet Fitness is reportedly going public.
Regardless of what happens, SoulCycle has a track record of keeping their rockstar, renegade, bike-dancing ethos intact in the face of big business moves. When the deal with Equinox went down, they expanded from about 8 studios to, now, nearly 40, while keeping control over everything from the choreographed classes to their signature “Soul Etiquette” listed outside each and every studio.
And hey, if an IPO does come to fruition, maybe the initial stock price will be a convenient $34, so you can own a piece of the company for life instead renting a bike for 45 minutes. —Molly Gallagher