From Engineering to Fitness: How Edgard Corona Built Smart Fit into a Fitness Giant
Edgard Corona, originally trained as a chemical engineer, took an unconventional route into the fitness industry. After graduating from Fundação Armando Álvares Penteado (FAAP) in São Paulo, Corona initially explored ventures outside of fitness, including managing a clothing business. A skiing accident led him to establish Bio Ritmo in 1996, a fitness center where he could undergo rehabilitation. This experience marked the beginning of his deep interest in the sector, eventually shaping his career and the fitness landscape in Latin America.
From Bio Ritmo to Smart Fit
Bio Ritmo’s early success demonstrated the demand for tailored fitness solutions in São Paulo. However, it was in 2008, after attending a roundtable discussion with international fitness entrepreneurs, that Corona identified a gap in the Brazilian market: accessible, high-quality fitness services at affordable prices. In response, he introduced Smart Fit in 2009, applying a High Value Low Price (HVLP) model that had proven successful in the United States and Europe.
Smart Fit opened its first location in São Paulo, offering state-of-the-art equipment and clean, welcoming spaces at a fraction of traditional gym costs. By addressing affordability, it quickly became an appealing option for a wide range of consumers. The gym’s low-cost membership fees, starting at around R$49 per month, disrupted the Brazilian fitness market and created a blueprint for expansion.
Rapid Growth Across Latin America
Under Edgard Corona’s leadership, Smart Fit expanded at an unprecedented pace. By 2024, the chain operated over 1,500 gyms in 15 countries, including Mexico, Colombia, and Chile. This extensive network served approximately 4.6 million customers, making Smart Fit not only the largest fitness chain in Latin America but also one of the fastest-growing in the global fitness industry.
Key to its success was a standardized model that ensured consistent quality across locations. Smart Fit balanced affordability with premium features, maintaining a focus on efficient operations and customer satisfaction. Its rapid scalability was further supported by strategic partnerships and funding from prominent investors, including GIC and CPPIB, which allowed for the acquisition of new locations and the launch of innovative fitness offerings.
The Role of Leadership
Central to Smart Fit’s story is Edgard Corona’s leadership and strategic vision. His ability to identify and seize opportunities has set the tone for the company’s expansion. By focusing on market research and customer needs, Corona tailored Smart Fit’s model to meet regional demands while keeping costs under control. His decision to pursue an initial public offering (IPO) in 2021 on Brazil’s B3 stock exchange reflected a commitment to growth and financial sustainability, with the proceeds reinvested into further expansion.
Smart Fit’s Economic Impact
Smart Fit’s success has not only shaped the fitness market but also contributed significantly to the economy. By 2024, the company achieved a revenue milestone of R$5.17 billion, marking a 31% increase from the previous year. The brand’s emphasis on accessibility and quality has made fitness an attainable goal for millions, transforming health trends in Latin America while boosting employment opportunities across its network of gyms.
Edgard Corona’s journey from engineer to fitness mogul illustrates how vision and adaptability can redefine an industry. Smart Fit’s trajectory is a testament to the power of understanding market needs and delivering value to customers on a massive scale.
