PURE reportedly secures US$50m funding for debt

PURE has reportedly secured a new round of funding of US$50 million to reduce debt, following demands for overdue rent and management fees, as well as rumours of layoffs last year.

The gym operator has received funding from existing shareholders such as Primavera Capital Group (春華資本) and FountainVest Partners (方源資本), according to Bloomberg. The new equity investment will be used to repay a three-year private loan obtained from Primavera Capital Group in 2023 and to reduce half of its other outstanding debts. 

PURE is also taking steps to increase its liquidity, including discussions with landlords about rent reductions, according to the report. 

MARKETING-INTERACTIVE has reached out to PURE Fitness for a statement. 

Founded in 2002 and headquartered in Hong Kong, The PURE Group is a premium lifestyle brand that includes PURE Yoga, PURE Fitness, PURE Pilates, PURE Nutrition, nood food, PURE Online, FUZE and Re:set by PURE. It has locations in Hong Kong, Shanghai, Beijing and Singapore.

Don't miss: PURE Fitness brand sentiments dip following dispute with Central store landlord

Back in September, Champion REIT filed a lawsuit against Pure Fitness for unpaid rental payments and management fees totaling US$1.63 million, excluding interest; however, the matter was subsequently resolved. 

"All PURE Group branches are operating as usual and maintaining normal services. We look forward to sustaining a positive relationship with all our landlords moving forward as we execute on our exciting plans for the future," said PURE in a statement seen by MARKETING-INTERACTIVE at that time. 

Colin Grant, PURE’s co-founder told Bloomberg in July that the gym had been enrolling about 35% more members each month from around September of last year until June 2025.

In recent years, major health club chains in Hong Kong have faced challenges due to escalating rental costs and competition from smaller competitors. Last September, the gym chain Physical (舒適堡) closed all its locations in the city after 38 years of operation, citing its struggle to cope with high rents. The Consumer Council received over 1,000 complaints regarding the abrupt shutdown of the gym chain, involving over HK$31 million.

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