Cotton On Group investment to back national expansion of Geelong fitness studio

The investment arm of Cotton On Group, Australia's largest global retailer, is to invest in Geelong-based fitness studio and activewear retailer Upstate Studios to help the brand expand nationally.

Founded in 2009 in Geelong, Upstate operates six fitness studios in Victoria on top of its online fitness classes and its activewear apparel line Upstate Sport.

Using Cotton On’s “expertise and experience” and backed by Cotton On’s innovation fund, Upstate will look to first grow in Victoria before then expanding nationally.

Explaining that its innovation fund was designed to focus on investments in technology, sustainability, wellness, social impact and product innovation, Cotton On Group Chief Financial Officer, Michael Hardwick stated “if we can see a business purpose for a new or established idea, and we feel passionately about it and believe it will make a positive difference, then we are also willing to invest through the Cotton On Innovation Fund.

“This was the case with Upstate, and we are thrilled to be backing two talented founders and entrepreneurs to support them with a national rollout.”

Gail Asbell, who founded Upstate alongside sister Charelle Cuolahan, said their customers wanted more than just physical workouts, commenting “we’re on a mission to help people find a positive state of mind through movement, connection and positivity and are driven to share this mission with as many people as possible.

“Our customer wants more than physical workouts; they want emotional and mental wellness. “That is exactly what Upstate is all about.

“We want our members to feel as though they have arrived at their happy place, and we believe health and fitness should be as fun as it is challenging.

“As female founders in a heavily dominated female industry, we feel passionately about providing full-time career opportunities for fitness professionals.”

As reported by the Geelong Advertiser, Asbell and Cuolahan will continue to lead and manage the operations of Upstate.

Asbell said Upstate’s offering which includes yoga, reformer Pilates, boxing, hot Pilates, and sound bath meditation was available at an “accessible price point.”

She added “our instructors are the heart of Upstate, and scaling our business means we can offer more pathways for more team members.

“This was a key factor in our decision to enter into this partnership with the Cotton On Group and as we work to scale our business.

“We could not be happier to align with the Cotton On Group, a company we’ve worked with locally in Geelong over many years, who are as excited about our mission as we are and will bring the expertise and experience to help us scale and roll out studios nationally.”

One of Australia’s most recognisable brand, Cotton On is known for its fashion clothing and stationery brands operating in 22 countries with 1,500 stores and 18,000 staff.

Images: One of Upstate Studios' gyms (top) and Upstate co-founders and sisters Charelle Cuolahan and Gail Asbell (below). Credit: Upstate Studios.