But the intense scrutiny has its rewards, he added. “The millennial audience has encouraged us to move faster, think more, innovate more.”
To that extent, Spevak mentioned they are doing something “big in digital” and launching a new studio fitness offering soon, in addition to a luxury Travel Experiences division and the soon-to-open Equinox Hotel in Manhattan’s Hudson Yards. Like Shinola, which is also opening a hotel in its hometown of Detroit, the idea is to take the brand community—be it #FitFam where “health is wealth” or lovers of American craftsmanship—and turn it into a lifestyle experience on the road.
What won’t be coming back though, according to Harvey? Equinox vitamins. “We failed at vitamins and supplements twice. What we learned from the consumer was we have a lot of authority and authenticity, but not for putting something in your body.”
This article was provided by Bloomberg News.