SoulCycle

{{Overly detailed|section|date=November 2021}}

Ruth Zukerman began teaching spin classes in Manhattan in 1996.{{cite news | url=https://jewishjournal.com/culture/arts/235970/ruth-zukerman-spins-cycling-success/ | title=Ruth Zukerman Spins Cycling Into Success | last=Miller | first=Gerri | work=The Jewish Journal of Greater Los Angeles | date=July 11, 2018}} In 2006, she introduced her clients Elizabeth Cutler, a real estate agent, and Julie Rice, a talent manager for Benny Medina's Handprint Entertainment, to each other over lunch, where the three women decided to start the brand that would become SoulCycle.{{cite news | last=Morris | first=Alex | title=The Carefully Cultivated Soul of SoulCycle | url=https://www.thecut.com/2013/01/evolution-of-soulcycle.html | work=New York Magazine: The Cut | date=January 6, 2013}}{{Cite news | url=https://www.wsj.com/articles/how-i-built-it-cycling-chain-spins-new-workout-1379547251 | title=How I Built It: Cycling Chain SoulCycle Spins Into Fast Lane | first=Nicole | last=Hong | work=The Wall Street Journal | date=September 18, 2013 | url-access=subscription}}{{Cite news | url=https://www.latimes.com/business/la-fi-himi-cutler-rice-20150809-story.html |title=SoulCycle founders are peddling fun in the gym | last=Li | first=Shan | work=Los Angeles Times | date=August 9, 2015 | url-access=limited}}{{cite news | last=Romeyn | first=Kathryn | title=How an Ex-Talent Manager Co-Founded SoulCycle and Sold for $90M | url=https://www.hollywoodreporter.com/news/how-an-talent-manager-founded-soulcycle-sold-90m-1015009 | work=Hollywood Reporter | date=July 3, 2017}}

SoulCycle opened its first studio in 2006 on the Upper West Side in Manhattan, and later expanded to several other locations in Manhattan.

In 2009, Zukerman left SoulCycle. In 2010, with Jay Galuzzo and David Seldin, she founded Flywheel Sports, a competitor to SoulCycle.{{cite news |last=Ogunnaike, Nikki |first= |date=June 16, 2016 |title=How One Woman Single-Handedly Changed the Indoor Cycling Game |url=https://www.elle.com/culture/news/a37104/ruth-zukerman-flywheel-profile/ |work=Elle}}{{cite news | last=Schlossberg | first=Mallory | date=September 9, 2015 | title=One of Soul Cycle's founders turned on the brand and started its biggest rival | work=Business Insider | url=https://www.businessinsider.com/this-indoor-cycling-studio-could-slowly-but-surely-derail-soulcycle-2015-8}}

In 2011, The Related Companies's Equinox Group acquired a majority stake in SoulCycle.{{cite news | last=GRIGORIADIS | first=VANESSA | date=August 15, 2012 | title=Soul Cycle celebrity cult following | work=Vanity Fair | url=https://www.vanityfair.com/hollywood/2012/09/soul-cycle-celebrity-cult-following}}

The studios originally featured a stationary Schwinn Bicycle Company bike with a chain drive typically used in the bigger gyms.{{cite news | url=https://slate.com/business/2015/11/soulcycle-s-superior-stationary-bicycle-is-designed-with-fitness-in-mind.html | title=How SoulCycle Reinvented the Stationary Wheel | first=GRAHAM | last=WINFREY

| work=Slate | date=November 30, 2015}} In 2012, SoulCycle had Villency design a custom bike with a "split seat" model, designed to be more comfortable.{{Cite web | title=Villency, the Designer of the SoulCycle Bike | url=https://www.villency.com/soul-cycle/ | website=Villency}}

In 2015, Melanie Whelan was promoted from chief operating officer to chief executive officer. In 2016, Rice and Cutler stepped down from their roles as co-chief creative officers and sold their shares to Equinox for $90 million.{{cite news | last=Lutz | first=Ashley | title=SoulCycle's founders have resigned | url=https://www.businessinsider.com/soulcycles-founders-are-resigning-2016-4 | work=Business Insider | date=April 8, 2016}}{{cite news | last=Henry | first=Zoe |title=The Co-Founder of SoulCycle Joins Another Hot New York Startup | url=https://www.inc.com/zoe-henry/soulcycle-cofounder-joins-wework.html | work=Inc. | date=November 20, 2017}}{{Cite news | url=https://fortune.com/2016/04/08/soulcycle-co-founders-resign/ | title=SoulCycle Co-Founders Cutler and Rice Have Resigned: Exclusive | first=BETH | last=KOWITT | work=Fortune | date=April 8, 2016}} {{As of|2016}}, Equinox owned 97% of the company.

In July 2015, SoulCycle filed to raise $100 million in an initial public offering at a valuation of around $900 million. The company paused the process in 2016. In a May 2018 filing with the U.S. Securities and Exchange Commission the IPO was cancelled, citing "market conditions."{{cite news | last=Fournier | first=Elizabeth | title=SoulCycle Shelves Plans for U.S. IPO After Three Years in Limbo | url=https://www.bloomberg.com/news/articles/2018-05-25/soulcycle-shelves-plans-for-u-s-ipo-after-three-years-in-limbo | work=Bloomberg News | date=May 25, 2018}}{{cite news | last=Kopytoff | first=Verne | title=SoulCycle Ends Ride Towards an IPO | url=https://fortune.com/2018/05/25/soulcycle-withdraws-ipo/ | work=Fortune | date=May 25, 2018}}

In 2017, SoulCycle introduced its Next Generation Bike, which featured an aluminum frame, a carbon fiber belt, and electromagnetic resistance.{{cite news | last=Malik | first=Naureen | title=SoulCycle’s New Exercise Bike Will Make Your Workout Even Harder | work=Bloomberg News | url=https://www.bloomberg.com/news/articles/2017-07-20/soulcycle-s-new-exercise-bike-will-make-your-workout-even-harder | date=July 20, 2017 | url-access=subscription}}

In March 2017, SoulCycle opened its first studio outside of the United States on King Street West in Toronto.{{cite news | last=Johnson | first=Devon | title=SoulCycle to Enter Canada as it Commences International Expansion | url=https://www.retail-insider.com/retail-insider/2016/10/soulcycle | work=Retail Insider | date=October 10, 2016}} Following its success in the Canadian market, the company opened a second studio in Toronto and another in Vancouver.{{cite news | last=Po | first=Ritchie | title=SoulCycle Continues Canadian Expansion | url=https://www.retail-insider.com/retail-insider/2017/7/soulcycle | work=Retail Insider | date=July 25, 2017}}

In October 2017, the company diversified by opening its first non-cycling-based studio, SoulAnnex, in Manhattan's Flatiron District. The studio incorporated elements of yoga and strength training.{{Cite news | last=Ruiz | first=Michelle | title=How SoulCycle Plans to Keep the Soul without the Cycle | url=https://www.vanityfair.com/style/2017/11/soul-annex-melanie-whelan-interview | work=Vanity Fair | date=November 15, 2017}} In February 2018, the studio permanently closed after a class action lawsuit by local residents due to noise pollution.{{Cite news | last1=Marsh | first1=Julia | last2=Daidone | first2=Gina | title=Flatiron residents sue SoulCycle over constant 'bowling-ball'-like thuds | url=https://nypost.com/2018/02/06/flatiron-residents-sue-soulcycle-over-constant-bowling-ball-like-thuds/ | work=New York Post | date=February 6, 2018}}{{Cite news | last=Biron | first=Bethany | title=Flywheel and SoulCycle are having an identity crisis | url=https://www.vox.com/the-goods/2019/1/11/18176929/flywheel-soulcycle-peloton-spinning-bubble-cycling-class | work=Vox Media | date=January 11, 2019}}{{Cite news | url=https://www.cnbc.com/2017/11/22/soulcycle-bets-on-a-new-brand-this-one-is-off-the-bike.html | title=SoulCycle bets on a new brand, this one is off the bike | last=Olick | first=Diana | work=CNBC | date=November 22, 2017}}

In February 2018, the company launched SoulActivate, an on-the-bike class that incorporates high-intensity interval training (HIIT).{{cite news | last=Raphael | first=Rina |title=SoulCycle expands further, gets into the HIIT trend | url=https://www.fastcompany.com/40536061/soulcycle-further-expands-gets-into-the-hiit-trend | work=Fast Company | date= February 26, 2018}}

In October 2018, Whelan announced that SoulCycle would begin operations in the United Kingdom, with a studio slated to open in London the following year.{{cite news | url=https://www.fastcompany.com/90254913/soulcycle-ceo-melanie-whelan-talks-expanding-abroad-and-online | title=SoulCycle CEO Melanie Whelan talks expanding abroad and online | last=Gagne | first=Yasmin | work=Fast Company | date=October 22, 2018}}

In June 2018, SoulCycle created a media division.{{cite news | last=Raphael | first=Rina | title=SoulCycle just launched a new media division | url=https://www.fastcompany.com/40587603/soulcycle-just-launched-a-new-media-division | work=Fast Company | date=June 20, 2018}} In July 2018, SoulCycle and Equinox launched a talent agency to represent their fitness instructors, with William Morris Endeavor in an advisory role.{{cite news | last=Raphael | first=Rina | work=Fast Company | url=https://www.fastcompany.com/90205344/equinox-and-soulcycle-are-launching-a-talent-agency-for-fitness-influencers | title=Equinox and SoulCycle are launching a talent agency for fitness influencers | date=July 19, 2018}}{{cite news | last=Mims | first=Taylor | title=Equinox & SoulCycle Launch Full-Service Management for Fitness Talent | url=https://www.billboard.com/articles/business/8466941/equinox-soulcycle-management-agency-fitness-talent | work=Billboard | date=July 24, 2018}}

In October 2018, SoulCycle partnered with Apple Music, making available instructor-curated playlists and motivational audio. It also launched live concerts during SoulCycle classes.{{cite news | last=Raphael | first=Rina | title=SoulCycle is turning its rides into live music concerts | url=https://www.fastcompany.com/90243896/soulcycle-is-turning-its-rides-into-live-music-concerts | work=Fast Company | date=October 1, 2018}}

In July 2019, the company launched SoulBeat, allowing riders to track performance metrics such as distance, power, and cadence via the SoulCycle mobile app following class.{{cite news | url=https://www.forbes.com/sites/margauxlushing/2019/07/12/soulcycle-launches-soulbeat-an-in-app-experience-for-riders/ | title=SoulCycle Launches SoulBeat, An In-app Experience For Riders | work=Forbes | last=Lushing | first=Margaux | date=July 12, 2019}}

On November 26, 2019, Melanie Whelan stepped down as CEO.{{Cite news | last=Biron | first=Bethany | title=SoulCycle CEO Melanie Whelan has resigned, marking the end of a tumultuous year for the boutique fitness company | url=https://www.businessinsider.com/soulcycle-ceo-melanie-whelan-resigns-2019-11 |website=Business Insider | date=November 26, 2019}}

In March 2020, SoulCycle closed all of its then 99 studios due to the COVID-19 pandemic. As a result of accelerated consumer demand for at-home fitness options,{{Cite news | last=Griffith | first=Erin | title=People Are Panic-Buying Meat, Toilet Paper … and Pelotons? | work=The New York Times | url=https://www.nytimes.com/2020/05/06/technology/peloton-boom-workout-virus.html | date=May 6, 2020 | url-access=subscription | issn=0362-4331}} the company lost market share to Peloton, a firm offering stationary bikes used to stream at-home spin classes.

While SoulCycle had announced a $2,500 bike for purchase in August 2019 in partnership with Variis, it only began shipping in May 2020, six months later than initially planned.{{Cite news | url=https://www.theverge.com/2020/3/9/21171670/soulcycle-at-home-bike-connected-fitness-equinox-peloton-competitor | title=SoulCycle announces a $2,500 at-home bike that streams on-demand classes | first=Natt | last=Garun | work=The Verge | date=March 9, 2020}} It was available across the United States in October 2020.{{Cite news | url=https://www.forbes.com/sites/margauxlushing/2020/10/07/soulcycles-at-home-bike-launches-across-the-us-with-live-classes-and-new-variis-fitness-app/?sh=2d6cceae77e3 | title=SoulCycle’s At-Home Bike Launches Across The US, With Live Classes And New Variis Fitness App | first=Margaux | last=Lushing | work=Forbes | date=October 7, 2020}} In 2020 was renamed Equinox+ and began to offer added exercise methods via the Equinox+ app.{{Cite web |last=Whittle |first=Andrea |date=March 13, 2020 |title=A Fitness App for the End of the World |url=https://www.wmagazine.com/story/equinox-variis-app-soulcycle-at-home-bike |access-date=2021-12-10 |website=W Magazine |language=en}}

Due to the COVID-19 pandemic, in March 2020, SoulCycle enacted furloughs and pay cuts for many employees and in April 2020, it began laying off 5%-10% of its staff.{{Cite news | last=Strachan | first=Maxwell | title=SoulCycle Lays Off Long-Time Employees With Zero Severance | url=https://www.vice.com/en/article/soulcycle-lays-off-long-time-employees-with-zero-severance/ | work=Vice| date=May 18, 2020}}{{cite news | url=https://www.theverge.com/2020/4/1/21203012/soulcycle-staff-pay-cut-furlough-coronavirus-pandemic | title=SoulCycle cuts staff pay by 25 percent while putting studio crew on indefinite furlough | first=Natt | last=Garun | work=The Verge | date=April 1, 2020}} In July 2020, the company closed its King Street studio in Toronto. In an email sent to local customers, SoulCycle cited pandemic-related financial difficulties as reasons for the location's abrupt closure.{{Cite news | title=SoulCycle Shuts Down Toronto's King Street Location | url=https://www.ellecanada.com/beauty/health-and-fitness/soulcycle-shuts-down-torontos-king-street-location | first=VICTORIA | last=DIPLACIDO | work=Elle | date=July 16, 2020}} Additional studios that were permanently closed after the COVID shutdowns in 2021 include San Jose, San Mateo, Calabasas, Culver City, Malibu, Union Square, W60th, Scarsdale, Memorial, and Beacon Hill.

In August 2019, reports that SoulCycle investor and former majority owner Stephen M. Ross would be hosting a planned fundraiser for the Donald Trump 2020 presidential campaign prompted a spokesperson to distance the company from the event.{{Cite news | url=https://www.axios.com/soulcycle-stephen-ross-trump-campaign-fundraising-backlash-c5da2b6f-47c6-4acd-b3cb-3c4cc534e4ec.html | title=SoulCycle faces backlash over investor plans to fundraise for Trump | first=Dan | last=Primack | work=Axios | date=August 8, 2019}}{{cite news | last=Gould Keil | first=Jennifer | title=Trump set to visit the Hamptons later this week | url=https://nypost.com/2019/08/05/trump-set-to-visit-the-hamptons-later-this-week/ | work=New York Post | date=August 5, 2019}}{{cite news | last=Ries | first=Brian |title=Owner of SoulCycle and the Miami Dolphins faces outrage and calls for boycott over Trump fundraiser | url=https://www.cnn.com/2019/08/07/politics/equinox-soulcycle-trump-fundraiser-boycott-trnd/index.html | work=CNN | date=August 7, 2019}} It also led to boycott threats.

In November 2020, SoulCycle employees and customers alleged that several of the company's instructors had made racist and homophobic remarks and fat shaming comments toward other staff and customers, and that the company refused to take action.{{cite news | title=SoulCycle Instructors Accused of Racist, Sexual and Fat-Shaming Comments: Report | url=https://people.com/health/soulcycle-staff-say-top-instructors-made-racist-sexual-fat-shaming-comments-report/ | last=Mazziotta | first=Julie | work=People | date=November 18, 2020}}

In December 2020, Evelyn Webster was named chief executive officer of the company.{{Cite news | url=https://www.cnbc.com/2020/12/01/exclusive-soulcycle-names-evelyn-webster-as-new-ceo.html | title=SoulCycle names Evelyn Webster as new CEO | first=Cory | last=Stieg | work=CNBC | date=December 1, 2020}}

In 2022, the company closed its Toronto studio, which was at the time its last Canadian location.{{Cite web |last=Patterson |first=Craig |date=2022-08-15 |title=SoulCycle to Exit Canada and Shut Remaining Location in Toronto |url=https://retail-insider.com/retail-insider/2022/08/soulcycle-to-exit-canada-and-shut-remaining-location-in-toronto/ |access-date=2024-07-10 |website=Retail Insider |language=en-US}}

In a 2011 article in the Los Angeles Times, certified strength and conditioning specialist James Fell approved of the company's theatrical approach to entertain and motivate its customers, saying he encourages "the importance of finding an exercise you love and embracing it with fervor." However, Fell gave the company "a failing grade for exercise physiology and biomechanics" and pointed out that the co-founders do not have certification in any type of exercise.{{cite news | last=Fell | first=James | title=In-Your-Face Fitness: SoulCycle's mix of cycling and upper-body workouts raises concerns | url=https://www.latimes.com/health/la-xpm-2011-nov-28-la-he-fitness-soulcycle-20111128-story.html | work=Los Angeles Times | date=November 28, 2011 | url-access=subscription}}

SoulCycle was prominently featured in the 2018 film I Feel Pretty.{{cite news | last=Hess | first=Amanda | authorlink=Amanda Hess | title=‘I Feel Pretty’ and the Rise of Beauty-Standard Denialism | url=https://www.nytimes.com/2018/04/23/movies/i-feel-pretty-amy-schumer-beauty.html | work=The New York Times | date=April 23, 2018 | url-access=limited}}

{{Reflist}}

• {{Official website|https://www.soul-cycle.com/}}
• {{cite news | url=https://www.npr.org/2018/12/21/679320471/soulcycle-julie-rice-elizabeth-cutler | title=SoulCycle: Julie Rice & Elizabeth Cutler}} on the NPR podcast How I Built This, January 7, 2019. Hour-long interview with Julie Rice and Elizabeth Cutler

{{DEFAULTSORT:SoulCycle}}

Category:2006 establishments in New York City

Category:2011 mergers and acquisitions

Category:American companies established in 2006

Category:Companies based in New York City

Category:Health care companies established in 2006

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Category:Medical and health organizations based in New York (state)