SOKO Fitness & Spa Group Completes Construction of Yoga Wave Harbin
HARBIN, China, Feb. 23 /PRNewswire-Asia-FirstCall/ -- SOKO Fitness & Spa Group, Inc. (OTC Bulletin Board: SOKF) ("SOKO"), an operator of fitness center and beauty salons and spas in Northeast China as well as suburban Beijing, today announced that it has completed construction of its newest yoga center, a 23,000 square foot facility in the Long Dian Building, located in the center of downtown Harbin, China.
The facility will be operated under SOKO's Yoga Wave brand and will join SOKO's two existing Yoga Wave centers which are located in Shenyang, China.
SOKO has registered approximately 500 members for the new facility through pre-opening sales and marketing activity. SOKO expects membership to ramp significantly during the facility's first two years of operation in a manner consistent with the membership growth trends seen at its two existing yoga centers. The facility is wholly-owned by SOKO.
Yoga Wave Harbin is scheduled to hold its grand opening on February 28, 2010 and will be SOKO's first yoga facility in Harbin. Featuring three full-size classrooms and three private studios, Yoga Wave Harbin will initially offer members 150 weekly classes taught by Chinese yoga practitioners, as well as yoga masters from India.
SOKO has leased additional space in the building, and has both a fitness center and a beauty spa under construction. SOKO expects these facilities to open by June 30, 2010. At completion, SOKO's facilities will occupy approximately 70,000 total square feet in this building.
"Pre-sale activity at Yoga Wave Harbin has been proceeding well to date, owing, we believe, to the effective marketing effort we have put forth, as well as the popularity and strong reputation of SOKO's facilities in the region," said Tong Liu, Chief Executive Officer of SOKO. "We look forward to further expanding our presence in the Long Dian building with the upcoming openings of our spa and fitness center. We expect that having these three facilities under one roof will bolster our ability to cross-sell services across multiple segments of our business, increase customer loyalty and further establish the SOKO brand among the upper and middle classes in Harbin. Consistent with our overall growth strategy, we believe that this area of Harbin presents a great deal of untapped potential for SOKO and gives us the potential to achieve a significant return on investment in a relatively short period of time."
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 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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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, 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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