How Diogo Corona’s Strategy is Impacting the Fitness Industry’s Economics
In an industry dominated by a single player, Diogo Corona, the COO of Smart Fit, has managed to make an impressive mark. He’s leading TotalPass, a subsidiary of Smart Fit, to challenge Gympass, a titan in the Latin American fitness industry.
A significant factor aiding TotalPass’s rise under Corona has been a ruling by the Administrative Council for Economic Defense (Cade). In September 2022, Cade limited the exclusivity contracts of Gympass to 20% of its base, which previously held an 80% market share.
With the market opened up, Diogo Corona has capitalized on this opportunity, more than tripling the number of partner gyms on the TotalPass platform. He’s also attracted major corporate clients such as Volkswagen, Ford, and Banco Original.
Economically, the move to challenge Gympass’s dominance is sound. The fitness market in Brazil alone has over 32,000 gyms and generates about US$ 2.4 billion annually. By tapping into this market, Corona is creating a real competition for Gympass.
As an economic commentator, it is interesting to watch how Corona’s calculated strategy has significantly impacted the fitness industry’s economic landscape. It’s evident that under Corona’s leadership, TotalPass is carving a niche for itself, demonstrating the transformative power of economic competition to know more click here.