Quality-first, Business-perspective, Long-term, Urbem (HK) Limited

Urbem Capital

Lifelong collector of the world's great businesses.

Quality-first, Business-perspective, Long-term

Quality-first, Business-perspective Strategy

Urbem (HK) Limited

Equity Bottom-Up

Curves Holdings Co Ltd / Equity Bottom-Up

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Curves sells adherence, not gym access: coaching and community help exercise-inexperienced older women sustain a habit they may struggle to maintain alone.</li>
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The existing network remains underutilized: most recent member growth came from mature clubs, while company-operated locations still materially outperform franchisees.</li>
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The thesis: transferring those economics across the franchise estate could sustain capital-light growth; labor intensity, technology-enabled self-service and execution in new formats are the key tests.</li>
</ul>



Curves sells adherence, not gym access: coaching and community help exercise-inexperienced older women sustain a habit they may struggle to maintain alone.

The existing network remains underutilized: most recent member growth came from mature clubs, while company-operated locations still materially outperform franchisees.

The thesis: transferring those economics across the franchise estate could sustain capital-light growth; labor intensity, technology-enabled self-service and execution in new formats are the key tests.


Curves Holdings: Selling Adherence, Not Gym Access