Management change: Landmark takeover

Dubai: The management of Fitness First may change hands as early as next week with the imminent takeover by retail giant Landmark Group, its chairman told XPRESS.

Micky Jagtiani, who heads the Dubai-based group, said: "We're talking to Al Hokair Group of Saudi Arabia to resolve some discrepancies. We're in the process of finalising a deal in a week's time."

Landmark Group's retail empire includes hundreds of store outlets in 15 countries with an annual turnover of $3.2 billion (Dh11.7 billion) and 31,000 employees.

Fitness First Middle East's franchise is owned and operated under licence by Leisure Unlimited LLC, a joint venture between Global Brands and the F.A. Al Hokair Group of Saudi Arabia.

Jagtiani confirmed they have signalled their intention to buy Fitness First's franchise in the region.

"We're conducting our due diligence. At this point, it's not a question of if, but when - and how much," he told XPRESS by phone from London, where he is currently on holiday.

He added the deal would cover 16 Fitness First branches in several territories covered by the Al Hokair franchise. He did not elaborate on the discrepancies.

Personal fitness trainers at Fitness First's branches in Dubai have complained recently over delays in getting their commissions, leaving them unable to meet their personal obligations.

TOUGH TIME

Its nine clubs in the UAE employ over 100 personal fitness trainers and many say the delay is making life difficult for them.

No comment was immediately available from Leisure Unlimited LLC about the expected Land-mark takeover.

Fitness First was founded in the UK in 1993 and has expanded into more than a dozen countries.

Landmark Group includes household names such as Home-Centre, Centrepoint, Babyshop, Splash, Shoemart, Lifestyle, Beauty Bay, Iconic, ShoeXpress, Max, Emax, Spar and Landmark International.