Bijlage 2.1.2 Anual Report 2024

Wellness®
“Wellness®” is a lifestyle, promoted by Technogym, aimed at improving quality of life through
education and regular physical activity, a balanced diet, and a positive mental attitude.
During the early 90s, while the stereotypical muscle-bound image of fitness personified by
Jane Fonda and Sylvester Stallone was all the rage in the USA, in Emilia-Romagna Nerio
Alessandri was launching a new vision: Wellness®, an all-Italian lifestyle whose roots lie in
the Roman concept of “mens sana in corpore sano” (healthy mind, healthy body). It was
nothing short of a revolution, which transformed a business based on hedonism into a social
one, from looking good to feeling good, from attracting only a small number of super-fit gym
enthusiasts to the possibility of embracing the whole population.
Wellness® is a social opportunity for all: for governments to cut their healthcare bills,
for companies to benefit from employing more creative, more productive workers, and for
ordinary people, to improve their lifestyles and health. This was the idea behind the Wellness
Foundation, the non-profit organisation created more than 10 years ago by Nerio Alessandri,
with the goal of sharing his twenty years’ experience in the fitness, Wellness and health
sector to create a more sustainable society by promoting wellness and a healthy lifestyle.
Internationally, thanks to the commitment of Nerio Alessandri and the Wellness
Foundation, Wellness® has become a key theme of the World Economic Forum in Davos,
and was also the subject of a United Nations event in New York.
Within the Romagna region, where the Wellness Foundation is located, it launched
the Wellness Valley project, which aims to create the first Wellness district in the world,
capitalising on the natural DNA of the Romagna region and on wellness as an economic
(tourism, food, technology) and social (health and prevention) opportunity for the area.
Wellness
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Mission,
vision and strategy
Technogym’s Mission is to help people live better through regular physical exercise and
the promotion of the Wellness Lifestyle. Wellness as a lifestyle is a social opportunity for all
stakeholders: for governments, which can reduce health spending by promoting prevention,
for companies, which can increase productivity by investing in wellness programmes, and
for the general public, who can improve their health and the quality of their everyday lives.
Technogym’s Vision is to be the world’s leading Wellness Solutions Provider, offering
the Technogym Experience to over 100 million people. To this end, the Group strives to
be recognised as a benchmark in its industry, promoting an authentic lifestyle by creating
customised solutions for private customers and fitness professionals: not just equipment,
but also services, content, devices and networking solutions.
Technogym’s objective is to help people to access their own customised Wellness
experience, anytime, anywhere, by implementing a three-pillar strategy:
› Wellness on the go: the Technogym Ecosystem is a platform that helps everyone enjoy a
personalised Wellness experience by accessing content and training programmes on any
Technogym machine and on any personal device, at any time, anywhere in the world. The
Technogym Ecosystem integrates equipment, dedicated mobile apps, the MyWellness
cloud digital platform and specific content, programmes and services, offering fitness
professionals the opportunity to connect with their clients wherever they may be.
› Brand Development: in recent years, the Technogym brand has followed a positioning
strategy based on two principal objectives: being a Premium brand in the Club, H&R and
HCP segments, and being an aspirational brand in the Home and Consumer segments.
Through marketing and communication, the Technogym brand establishes its values with
a clear, coherent strategy that has helped Technogym to position itself as an internationally
recognised name.
› Global presence in different market segments: Technogym is expanding globally in
various market segments, thanks to an omni-channel distribution strategy which includes
Retail, Field Sales, Wholesale and Inside Sales.
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Board of directors’ report
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Business model
Over the years, Technogym has become well-known for interpreting and anticipating its
customers’ needs, creating a global community of over 70 million people who train every
day on its machines in 100,000 fitness centres and in more than 500,000 private homes in
100 countries worldwide. Today, Technogym is an international benchmark in the wellness
sector, and as such is able to offer complete solutions for fitness, sport and health.
4.1
INNOVATION, DESIGN AND PRODUCT DEVELOPMENT
Since its foundation in 1983, Technogym’s guiding principle has been all-round innovation
in products, processes, its digital ecosystem, sales, marketing and in every other area of the
company.
Products are at the core of Technogym's innovation strategy. Our Research and
Development area employs more than 200 professionals including engineers, sports doctors,
designers and software developers. It also collaborates with external medical practitioners,
physiotherapists, architects, athletes and sports trainers.
To date, Technogym has an intellectual property portfolio of 420 patents, 800 designs
and 440 national and international trademarks, which include 33 patents, 70 designs and 12
trademarks registered in 2024.
Product innovation has always been the Technogym Group’s driver of growth. The capacity
to innovate is based primarily on the expertise acquired over time by the division dedicated
to product research and development, activities traditionally considered an essential tool for
reaching and consolidating a leading position in the international fitness equipment market
owing to the quality, innovation and design of its products.
In 2024, the Technogym Ecosystem continued to expand in the market. The ecosystem
includes connected products, software, apps, artificial intelligence, services and content that
can offer end users a training experience fully tailored to their individual needs, objectives
and passions, giving sector operators the opportunity to manage the entire customer
journey and optimise their business, while retaining and attracting customers.
In March, Technogym launched Technogym Checkup, the innovative AI-based body
assessment station, which customises training starting from physical and functional
parameters and, thanks to AI, prescribes a precision programme based on needs, goals and
conditions. Technogym Checkup can also provide users with their Wellness Age, i.e. age
linked to physical and functional conditions.
In October 2024, Technogym presented in selected countries—including Italy, the United
Kingdom, Benelux, Turkey, Switzerland and Austria—the new Technogym Connected
Dumbbells, smart weights equipped with sensors and connected to the Technogym App for
strength training, allowing users to change the weight with a simple adjustment. They are
the perfect solution for strength training at home thanks to the ability to adapt to spaces of
any size, with the versatility of 12 pairs of dumbbells occupying the space of just one. Further
launches in other markets is expected in 2025.
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Board of directors’ report
Letter to the shareholders
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Medical and scientific research
A scientific approach is an integral part of TECHNOGYM’s product development, and
the company works with many experts in the field as well as with numerous Italian and
international universities. These partnerships focus on the biomechanical and physiological
analysis of products being developed, in order to certify their security and effectiveness
and study the benefits for sport and health. Technogym also collaborates with professional
athletes and teams to support them in biomechanical and physiological analyses. These
analysis activities are carried out in the Technogym Lab, the new laboratory with spaces
and technologies dedicated to physiological tests and movement analyses. During the
year, a number of athletes in various sports were tested to evaluate their performance. The
Technogym Lab, equipped with the latest technologies, is also currently used to analyse
Technogym products in the development process.
In 2024, as part of the scientific collaborations established over several years with a
number of universities, new research projects were launched with the University of Foro
Italico in Rome, the University of Urbino for data analysis, the University of Padua for a
validation study on a new functional assessment technology, and the University of Bologna
for the development of an equation for estimating maximum oxygen consumption.
At an international level, a study was commissioned at the orthopaedic clinic Schulthess
Klinic in Zurich; links with Cleveland Clinic were established; and collaboration continued
with the American College of Sports Medicine. There was also continued participation in
conferences and congresses on various topics. In collaboration with “SCS – Strength &
Conditioning Society”, the company entered into an agreement for the development of
courses on training for team sports.
Scientific research in the area continues, with publications of scientific studies in indexed
journals and the participation of Scientific Department managers at national and international
conferences as speakers.
4.2
DIGITAL INNOVATION
Digital innovation is a fundamental part of Technogym’s activities. Back in 1996, Technogym
launched Wellness System, the world’s first training management software. Today,
Technogym’s offer incorporates the Technogym Ecosystem, the only system of its kind in
the world of fitness and wellness. It connects equipment based on an ‘Internet of Things’
approach, and incorporates a cloud platform that stores personalised data and training
programmes for individual users, and a complete range of wellness apps for consumers and
professionals.
Radical changes have also been made to the user experience: The Technogym Ecosystem
is an open application that integrates Technogym products and services with the leading
tracking apps and wearables, giving users a “Wellness on the Go” experience anytime,
anywhere: in the gym, at home, at work, outdoors, at the doctor’s or while travelling. Users
each have a personal account containing their personal data and training programmes.
Exercise data can be accessed from various touchpoints: apps, websites or directly on
Technogym equipment, thanks to the LIVE interface.
Technogym’s Mywellness is the only platform in the sector that gives users a completely
personalised experience (training programmes, data and content) throughout their whole
training path, both on the gym floor and during classes (cycling, rowing, heart-rate based,
and much more) as well as during outdoor training.
Since its launch in 2012, the Mywellness platform has become a point of reference on the
market in the field of Connected Wellness. Today, more than 23,000 wellness and fitness
centres around the world connect to the Technogym Mywellness digital platform, with over
22 million registered users.
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Board of directors’ report
Starting from the “Wellness on the go” strategy, involving the development of a seamless
and integrated digital ecosystem consisting of smart equipment, the mywellness cloud and
apps, and able to offer a customised training experience, in 2020 Technogym launched
Technogym LIVE, the new platform that offers a completely new and engaging training
experience and allows users to access a variety of live and on-demand training videos from
all Technogym product consoles, from the new Mywellness 6.0 app, on-screen during virtual
gym classes or on personal digital devices and from the very latest Technogym App, the
new app available on Android and iOS devices.
The Technogym App offers customised workouts with on-demand videos with the best
trainers, allowing users to train at home, in the gym, at the office, while travelling and
outdoors, thanks to the smart coach. Whatever your fitness goal, with the Technogym App it
has never been easier or quicker to achieve it, with a wide selection of on-demand training
videos and a customised plan that adapts to the user, the user’s progress and lifestyle.
Every day, the app proposes the most suitable training, combining scientific research,
artificial intelligence, and engaging and challenging video content. Users can access their
personalised training programme, services and results at any time, anywhere, thanks to their
personal Technogym ID, which allows them to connect to their profile at all contact points of
the Technogym Ecosystem: the smartphone app, equipment consoles and the website. The
Technogym App offers a wide variety of programmes dedicated to fitness, sport and health,
developed by a team of trainers and athletes specialising in various disciplines. For those
with access to Technogym equipment, at home or in the gym, the Technogym App will guide
the user through the best use of the equipment with the option to access training videos on
the console. Moreover, it will suggest bodyweight workouts or training using accessories,
directly on the user’s device or by mirroring the device on a TV, for a unique and compelling
Technogym wellness experience.
As part of these options and content, the brand-new Technogym Coach – the first
application of artificial intelligence to fitness – guarantees each user a fully customised
experience. Technogym Coach manages the details and preferences of users and guides
them, day by day, suggesting different training options depending on their interests, needs
and personal tastes.
4.3
4.4
DESIGN AND INNOVATION AWARDS
Italian style and design have always been distinctive characteristics of Technogym
worldwide. For over 14 years, the company has participated in the Salone del Mobile in
Milan, the most important design event in the world. It collaborates with Antonio Citterio,
one of Italy's most renowned architects, and boasts a top Design Department within its
Research and Development Centre.
Over the years, Technogym products have been recognised with a long list of international
design awards, including 3 Compassi d’Oro, 20 ADI Awards, 14 Red Dot Design Awards, 3
International Design Excellence Awards, 7 iF Awards, 11 Good Design Awards, 3 German
Design Awards, 1 German Innovation Award and 2 Wallpaper Smart Space Awards.
PRODUCTION
The products offered by Technogym are designed, produced and distributed according to
an operating model characterised by direct control of all the production phases.
The purchase of raw materials represents one of the main areas of the value chain.
Technogym attaches great importance to the materials used in its products, which must
meet the highest industry standards. The company uses a global sourcing system that
includes more than 800 suppliers from around the world.
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Assembly is performed at Technogym’s two production facilities: at the Technogym
Village in Cesena and in Malý Krtíš (Slovakia).
The Cesena facility, designed to guarantee both maximum production efficiency and a
work environment inspired by the principles of Wellness, covers an area of around 40,000
square metres. The production facility only includes product assembly lines designed
according to lean production and total quality criteria. The Slovakian facility covers a
total area of roughly 30,000 square meters (including an office area) and includes vertical
production lines with integrated carpentry, painting and product assembly processes.
4.5
THE OFFER: TOTAL WELLNESS SOLUTION
Technogym’s unique offer is the Total Wellness Solution, a bespoke wellness solution for
professionals and end users alike, designed to promote well-being through an integrated
ecosystem of products, services and content.
Equipment
Technogym offers a unique, comprehensive range of equipment for cardio, strength and
functional training, as well as for classes, able to meet the needs of end users across
various market segments. We are constantly committed to developing new products and
technologies to offer safe, effective and engaging trainingKlik hier om een tekst te typen.