Barry’s Bootcamp announced new investment from Princeton Equity Group on Monday as the boutique fitness industry faces challenges. Co-CEO Joey Gonzalez emphasized that Barry’s premium brand positioning helps it stand out in a competitive market. The investment will enhance client experience and expand the brand’s footprint.

Barry’s, known for its high-intensity training classes in red-lit studios, operates 89 locations worldwide, with over 7 million visits in 2024. The company plans to open new studios in 12 U.S. cities, including Charleston, Hoboken, and Salt Lake City, as well as Madrid, Athens, and Dublin. The investment also allows Barry’s to take direct control of operations in the UK and Canada to improve efficiency and community engagement.

Princeton Equity Group, a private equity firm with $1.2 billion in assets, has backed other wellness brands, including Massage Envy and D1 Training. The size of its investment in Barry’s was not disclosed.

Despite a projected growth in the boutique fitness market from $48 billion in 2023 to $86 billion by 2030, some brands, such as Stride Fitness and Row House, have struggled. However, Gonzalez remains confident in Barry’s success, highlighting its commitment to high-quality fitness experiences and brand consistency.