Only A Year After Entering Shanghai, Keepland Shut Down All 3 Outlets In Shanghai.

At the end of March this year, Keepland closed 3 Shanghai stores, Jingan Joy City store, Changfeng Joy City store and Jinqiao store. For the reason of closing shop, the relevant person in charge of Keep explained that "for the sake of the operation efficiency of the store, we decided to close the shop for a while and do some trimming". At the same time, we also disclosed that the company focused on Beijing at this stage.

It is worth noting that the above three stores are all Keepland stores in Shanghai, and all 3 stores are closed. This means that Keepland will withdraw from Shanghai market.

In March 2, 2019, Keepland officially entered the Shanghai market and opened the first store in Shanghai, Jingan, with a fitness area of about 300. There are 1 workshops planned for the changing rooms, the front desk and the rest area. In April 5th, second stores in Keepland Shanghai opened in Changfeng entertainment city. In May 1st, Keepland opened third stores in Shanghai, Jinqiao International Plaza store.

In addition, Keep also opened the world's first store in Shanghai from October 9, 2019 to January 5, 2020, opening 100 days in a limited time. The store was divided into indoor theme training, outdoor sports, yoga and other theme shelving. Keep also designed the Shanghai dialect version T for the store, and there were 6 versions of the classic Shanghai dialect.

Unlike Keepland, Keep is a store that sells products of multi brand products of Keep brand, and promotes user's consumption experience combined with Keep online content and AI skills.

Landing a number of offline stores, showing the importance of Keep Shanghai market! But in the past year alone, Keep has shut down all Keepland and left Shanghai.

It is worth noting that before closing the Shanghai store, Keepland also closed the Beijing Chaoyang District Qingnian Road Da Mei store in December 2019, when Keep said the shop was closed because of the problem of location.

According to the Keepland applet, there are 10 stores in Keepland, all located in Beijing.

Public information shows that Keep is a social fitness tool product, which was launched in February 4, 2015. As of July 2019, the total number of users reached 170 million and 35 million monthly. With such a large volume of traffic, Keep began to consider online cash reallocation. In March 2018, it opened its first line shop Keepland in Beijing Huamao shopping center. As of the end of April, Keepland's daily operation had reached 95% of the full class rate and 80% of the repeat purchase rate.

The gym has the property of "burning money". Keep has spent more than a dozen Keepland in a short time, which will cost a lot. According to media understanding, Keepland currently contributes less than 1/10 to the company's revenue. It has invested heavily and has little revenue. Keep funds have been under pressure. Beijing and Shanghai stores have been shut down one after another. It also reflects Keep's difficulties in overall funding.

According to public reports, the last round of financing announced by Keep was the $127 million D round of financing launched by Goldman Sachs in July 2018, more than a year and a half ago. It is reported that Keep is seeking financing recently, but it is not very smooth. Affected by the epidemic, store operating income is difficult to guarantee in a short time, so it seems that Keep's closing measures are understandable.