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Cycling studio Flywheel has just taken a major investment that will help it expand both nationally and internationally. Per a press release, the funding came from Benvolio Group, which is led by Coach chairman Lew Frankfort. It also included, "a number of preeminent consumer and real estate sector leaders and entrepreneurs" like Andrew Rosen of Theory and Khajak Keledjian of Intermix.
According to a report by WWD, the funds will also help Flywheel to expand its in-house clothing label and an e-commerce site is in the works. (Flywheel's biggest competitor, SoulCycle, recently launched it's own e-shop.) Said Flywheel's CEO of the news, "This strategic investment provides Flywheel with meaningful capital that will allow us to expand our studio footprint to meet increasing demand in existing markets and to extend our reach to new cities across the United States and abroad."
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