Edgard Corona is the developer and CEO of the SmartFit gym structure, which has more than 480 gym units. He also founded and is the director of the Bio Ritmo Network, which he established in 1996. SmartFit is in several countries, including Chile, Mexico, Peru, Colombia, the Dominican Republic, and Ecuador. This establishment has consolidated the Latin American market with 1.6 million students. This company has modernized how these countries exercise.
According to Sports Value, a Brazilian sports promotion company, worldwide professional sports lost around US$ 15 billion during the COVID-19 pandemic. Brazil lost R$ 1.4 billion due to millions of losses at the giant fitness network SmartFit. Edgard Corona believed that a significant percentage of their students would return to the gyms in 2022.
In an interview with LIKE A BOSS, Corona says he had a laboratory and a confectionery, which he had set up with his stores while in college. He sold these ventures and served at a family sugar factory in Sao Paulo. Edgard then partnered with another person and built a gym, Bio Ritmo, which he says was a good investment.
Corona left the sugar mill after he was involved in a skiing accident that required him to attend physical therapy daily. Edgard says their partnership is doing well since the Brazilian economy is stable.
Edgard Corona says many people built modern gyms, which resulted in them losing clients. Therefore, they decided to create more sophisticated gym academies after studying the Brazilian and American gym markets.
Today, Corona’s gym establishments have raised his net worth to R$1.6 billion. His company offered around 100 million shares, diluting his share to 9.07%; however, he remains the majority shareholder of Smart Fit.
Read More: www.smartfit.com.br/edgard-corona