SOKO Fitness & Spa Group Completes Construction of Lea Spa Xishan Club in Suburban Beijing
HARBIN, China, May 13 /PRNewswire-Asia-FirstCall/ -- SOKO Fitness & Spa Group, Inc. (OTC Bulletin Board: SOKF) ("SOKO"), an operator of fitness centers, beauty salons and spas in Northeast China as well as suburban Beijing, today announced that it has completed construction of its first spa facility in suburban Beijing, the Lea Spa Xishan Club, located in the Xishan section of Beijing's Haidian district. Pre-opening activities for Lea Spa Xishan Club are already underway, with initial spa and salon clients having pre-paid for services at this facility.
Lea Spa Xishan Club, which the company has previously disclosed was under construction, is scheduled to open on May 15, 2010. The 15,000 square foot facility is located in a high-end residential and recreational development in the Xishan section of Haidan. The spa features 13 treatment rooms, and will be offering a full range of high-end beauty and aesthetic treatments, similar to SOKO's existing spa and salon facilities in Harbin and Shenyang, China.
Consistent with SOKO's existing spa and salon facilities in Harbin and Shenyang, SOKO expects annual visits at this new spa to ramp up during the facility's first two years of operation as the facility matures. In a manner consistent with some of SOKO's other facilities, SOKO has a 51% equity interest in Lea Spa Xishan Club through a partnership.
"The opening of our first spa and salon facility in suburban Beijing marks another significant milestone for SOKO. Pre-opening activity has sought to leverage our early-stage marketing efforts and the brand equity we have built in the region since acquiring our two suburban Beijing fitness centers in December 2009," said Tong Liu, Chief Executive Officer of SOKO. "In addition, the location of the Lea Spa Xishan Club in the Haidian district of Beijing is consistent with our strategy of seeking to penetrate underserved markets (or in this case sub-markets within the greater Beijing area) that have attractive demographic profiles. Before the opening of this spa, Xishan lacked a facility capable of providing truly high-end beauty and aesthetic services, despite a growing upper middle class population that suggests the potential for high demand. This approach allows us to be a first mover in the region and, we believe, provides us with a significant competitive advantage. We also hope to capitalize on our strategy of cross selling spa and aesthetic services to the members of our two suburban Beijing fitness centers. By deploying this model, which is consistent with our past practice, we believe that Lea Spa Xishan Club has the potential to perform in a manner similar to our spa and salon facilities in our base areas of Harbin and Shenyang."
About SOKO Fitness & Spa Group, Inc.
SOKO Fitness & Spa Group, Inc., an OTCBB listed company (SOKF.OB), is an operator of fitness centers and beauty salons and spas in key cities in Northeastern China as well as in suburban Beijing. SOKO provides programs, services, and products combined with exercise, education, and nutrition to help their members lead a healthy life and achieve their fitness goals. For further information, please go to http://www.sokofitness.com .
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Cautionary Note Regarding Forward Looking Statements
This press release and the statements of representatives of SOKO Fitness & Spa Group, Inc. (the "Company") related thereto contain, or may contain, statements that are not historical facts and are therefore "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, beliefs, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believe," "expect," "anticipate," "estimate," "intend," "plan," or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, including, without limitation, the performance of the Lea Spa Xishan Club and results regarding the Company's expansion strategies, service offerings, client, membership and customer figures, proposed new center openings and prospects and strategies for growth, may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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