By Zack Devin
Edgard Corona’s entry into the fitness industry began with an understanding of the limitations in the Brazilian market. While high-end gyms catered to a select group of consumers, affordable options often lacked quality, leaving a significant portion of the population underserved. This insight drove Corona to create a model that would bridge the gap, offering quality fitness services at a price accessible to the majority.
When Smart Fit was established in 2009, its approach was centered on affordability and efficiency. The goal was not just to attract existing gym-goers but to create a space where individuals who had never considered joining a gym could feel welcomed and supported. By targeting this broader audience, Smart Fit quickly became a recognizable name in the fitness industry.
The Formula for Rapid Growth
The rapid expansion of Smart Fit is a testament to the scalability of its business model. By prioritizing essential services and eliminating unnecessary luxuries, the company was able to streamline operations and reduce costs. This allowed memberships to be offered at a fraction of the price of traditional gyms, attracting a diverse clientele.
Smart Fit’s operational efficiency extended to its standardized gym design and centralized management systems, ensuring consistency across all locations. Each gym offered state-of-the-art equipment and modern facilities, creating a high-quality experience regardless of the price point. These factors contributed to the brand’s rapid growth, with more than 1,500 locations established across 15 countries by mid-2024.
Expanding Beyond Borders
Under Edgard Corona’s leadership, Smart Fit became a major player in Latin America. The company’s strategic expansion included key markets such as Mexico, Colombia, and Chile, where it tailored its offerings to meet the needs of local consumers. This adaptability allowed Smart Fit to thrive in diverse economic and cultural contexts, reinforcing its reputation as a leader in the region.
Smart Fit’s focus on affordability also contributed to its success abroad. By providing access to high-quality fitness services at a low cost, the company was able to attract millions of members. As of 2024, Smart Fit served approximately 4.6 million active clients, making it one of the largest fitness chains in the world.
Financial Achievements and Strategic Vision
Smart Fit’s growth was supported by significant investments from prominent global partners such as GIC and CPPIB. These partnerships not only enabled expansion but also positioned the company for long-term success. The decision to go public in 2021 through an initial public offering on Brazil’s B3 stock exchange further solidified its financial stability.
With reported revenues exceeding R$5 billion in 2024, Smart Fit demonstrated the strength of its High Value Low Price model. Edgard Corona’s ability to combine financial acumen with a deep understanding of market needs has been a driving force behind the brand’s success. By making fitness accessible to millions, Smart Fit has reshaped the industry and influenced how gyms operate across the region.
