More Passion, More Footwork: How Technogym Powers the Paris Olympic Games?
Most customers seem disappointed in products, as per reviews in Trustpilot. But the Olympic Games would not risk their reputation and partner with a partner who is not a leader in its field.
What to expect
Technogym is the official equipment provider for the Paris 2024 Olympic Games, providing over 1,200 equipment pieces to serve 14,900 athletes from over 200 countries. This is a significant achievement for Technogym, and it cements their position as a leader in the sports and fitness industry.
Technogym is committed to innovation, and they use NASA-derived technology in their equipment. This technology helps to reduce the risk of injury and improve athlete performance. Technogym also invests heavily in high-quality, durable equipment that can withstand the demands of elite athletes.
Technogym has a long-standing partnership with the Olympics, dating back to 2000. This partnership is a testament to Technogym's reputation for quality and reliability.
As the world gears up for the Paris Olympic Games this summer, one company stands at the forefront of athletic performance and equipment innovation: Technogym ($TGYM). This Italian innovator from Cesena has been chosen as the official and premium supplier of fitness equipment for the eighth time, cementing its position as a pioneer in the sports industry.
But what is it about Technogym that sets it apart, making it the equipment of choice for countless Olympic champions? This article delves into the Technogym's success story, exploring the company's blend of innovation, craftsmanship, and support for athletic excellence.
The Powerhouse Behind the Paris Olympic Games
Technogym's commitment to wellness will be on full display during the Paris Olympic and Paralympic Games, as the company provides over 1,200 equipment pieces to serve 14,900 athletes from over 200 countries across 32 Olympic and 22 Paralympic sports. The equipment will be strategically positioned across 29 training centers, with the central hub located in the Olympic and Paralympic Village in Saint-Denis, providing athletes with convenient access to their training needs before and during the Games. Additional locations include Lille, Marseilles, Tahiti, and, of course, Paris.
Technogym's diverse product selection, encompassing cardio, strength, and functional training equipment, will seamlessly connect through the Technogym Ecosystem, providing athletes personalized training programs and performance tracking. This cutting-edge technology will bring training practices to the next level, optimizing athletes' workouts and helping them achieve new heights of success.
The company will also provide a team of professional athletic trainers to ensure a seamless and supportive experience for all athletes, who will assist with gym layout, installation, and technical services. These experts will work closely with athletes to understand their needs and preferences, ensuring that every training experience is tailored to their goals.
This commitment to holistic wellness is further exemplified by Technogym's "Let's Move for a Better World" initiative, which usually coincides with the Olympic Games. This initiative empowers individuals to earn points through their workouts. This can be converted into funding for Technogym's wellness programs that reach schools, hospitals, and community centers, promoting access to fitness and a healthier lifestyle.
Technogym's Commitment to Innovation
At the heart of Tecnnogym’s success lies its dedication to crafting innovative technology, digital experiences, as well as ergonomic, biomechanically sound, and use-centric design, said Neiro Alessandri, President and Founder of Technogym. For example, the company uses NASA-derived technology to provide smooth and uniform resistance, which reduces the risk of injury and maximizes athlete’s performance as well as the effectiveness of workouts.
So, Technogym heavily invests in high-end equipment optimized for the user experience, whether we talk about treadmills, bikes, rowing machines, ellipticals, or strength machines. Thanks to such a scientific approach, particularly VO2 max testing on every new equipment, the training experience with Technogym is more delightful than ever, and workout statistics are precise.
It is not surprising that the company’s innovative fitness solutions have become well-loved and embraced by athletes of all levels, from Ayrton Senna, the legendary Formula One driver, to A.C. Milan, one of the world’s most successful football clubs. Thus, we can say that the Technogym equipment goes beyond mere physical fitness – it is all about a deep connection between mind, body, and spirit.
Why Technogym?
In exploring this topic, we discovered that Technogym is the sole equipment provider for Paris 2024. But why?
It turns out the company has a prosperous, long-standing partnership with the Olympics. This partnership dates back to 2000 when they became the official supplier of exercise equipment for the Sydney Games. The decision was simple: First, about 55 million athletes in over 100 countries use Technogym equipment for training. Secondly, safety is at the heart of Technogym's operations. Athletes can't afford to risk injury, right?
Beyond safety, Technogym's equipment is known for its high quality and durability, vital in an intense environment like the Olympics. The equipment must endure heavy use by athletes pushing their limits, and this resilience could be a critical factor in their selection as the exclusive provider.
What Do People Say About It?
Technogym's expertise has been recognized by the sports industry, gaining the company a reputation as a world leader in fitness equipment. This recognition is not without merit. For instance, Tony Estanguet, President of Paris 2024, expressed his excitement about the initiative, not only from a leadership perspective but also as an athlete. “I know their expertise personally, and I am delighted that this company, a world market leader, is supporting us as an official and Exclusive Supplier to the Paris 2023 Games.”
Moving beyond the marketing and public relations perspective, we wanted to get genuine and honest reviews coming from an average customer, not a celebrity, influencer, or any kind of superstar. So, we went to the company's Trustpilot page and found an average score of 2.3 stars out of 5, implying that only 38% of customers were satisfied with Technogym equipment. Quite surprising, right?
For example, Vincent from Indiana, a Technogym customer, left this review: “After being a lifelong Technogym fan, I replaced my old Excite treadmill with the new Run 19 5000 treadmill. I'm terribly disappointed with the quality of the treadmill. It is precarious, and the plastic parts broke off within a year due to frequent software issues.”
On the other hand, Paaedex from Seattle highly praises Technogym products: “I think they are making the best… I know that their equipment fully complies with international standards. Their bars, weights, machines, and dumbbells are sound, solid, and don't break easily. They withstand daily wear and tear in a gym. So, I quite like Technogym products.”
After reading reviews, we have mixed feelings – most customers seem disappointed in products, as per reviews in Trustpilot. Yet, the media is buzzing with words of how great and seamless the experience with Technogym equipment is. At the same time, the Olympic Games would not risk their reputation and partner with a partner who is not a leader in its field. So, who really has rose-colored spectaculars in this case: you, us, or the Olympics?
Well, we are not here to judge and can only say that Technogym's involvement in the Paris Olympics is a significant event that strengthens its position as a leader in the sports and fitness industry. The company's commitment to innovation, athlete support, and promoting wellness inspires athletes and fitness enthusiasts worldwide. Some critics may argue that Technogym's participation in the Olympics is merely a marketing strategy. But is it one? We leave that decision up to you!
Financial Outlook Technogym $TGYM
With a market cap of $1.9 billion, Technogym operates globally in over 100 countries in Europe, Asia, North America, Middle East, India, Africa, Australia, and Latin America.
The first nine months of 2023 (most recent data available), Technogym saw a 13.3% increase in revenue across all countries they operate in, with the exception of APAC where there was a 2.5% contraction. The contraction is mainly attributed to the declining economic conditions in China.
The only American equipment competitor is Peleton PTON 0.00%↑ with a market cap of $1.6 billion, and Peleton does compete in the vast amount of equipment that Technogym provides.
In November 2023, Technogym announced a share buyback program totaling 2.5 million shares worth €20 million. As of this article, Technogym has purchased 1.28 million shares totaling approximately €10.9 million.
