Apex

Their model is fairly simple - customers pay up front for the bike, and then subscribe to online services which allow them to access 24/7 fitness classes. This concept has been done before, with rival Peloton offering essentially the same service, so Apex's strategy has focussed on undercutting the market. Their product promises the same high-quality engineering at a substantially lower price-point. They are hoping, therefore, that they will be able to attract customers who might previously have been unwilling to pay the high costs associated with personal exercise bikes.

That being said, Apex bikes are still not cheap, and their future success will depend on whether their lower price goes far enough to capitalise on consumers which the likes of Peloton have missed. Likewise, as gyms reopen post-pandemic there is always the threat that most exercise bike enthusiasts will simply return to the gym as before.

However, Apex looks set to see considerable early success. Hundreds of bikes were reserved within minutes of the product's announcement in April 2020, suggesting that there is no shortage of demand for Apex's creation. If Apex can build on its high-profile partnerships - such as that with Boom Cycle, one of London's premium spin class brands - and provide on its promises of quality, the company has great potential to shake up the fitness industry as we know it.