Cairo gets serious about Pilates

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WHAT WE’RE TRACKING TONIGHT

Oil prices drop to pre-war levels + global tech sell-off eases

Good afternoon, friends. We’re almost there — one more day stands between you and the weekend. Today, we’re looking at Cairo’s Reformer Pilates boom: 12+ studios in 12 months, a very specific aesthetic, and a fitness market that’s quietly corporatizing. We also break down a book that unpacks why some ideas take off while others don’t — useful for the business-minded and the chronically online alike. And tonight’s World Cup slate is a big one: six fixtures across three groups, starting at 10pm.

But before we dive in, the news…

THE BIG STORY ABROAD-

🌐 It’s a hodge-podge of stories on the digital front pages this afternoon, with plenty getting ink, including the latest developments in the long-running US-Iran negotiations. US President Donald Trump says that Iran has agreed to nuclear inspections, while Tehran maintains no such concession was agreed to during talks. The two countries remain at odds over financial incentives for Iran, management of navigation through the Strait of Hormuz, and Israel’s war on Lebanon.

Still, Trump says they’re “getting along quite well.” On the bright side, concerns over oil supply disruptions are easing as oil prices fall back to pre-war levels, with Brent dropping to USD 75.6 / bbl and WTI to USD 71.8 / bbl at the time of publication.

^^Read more on: CNBC, Associated Press, CBS, and Reuters.

IN OTHER NEWS- The global tech sell-off is showing signs of easing. The S&P 500 and Nasdaq are pointing higher today after several straight sessions of losses. Memory chipmakers also bounced back in premarket trading following a steep decline as investors await Micron's earnings report today.

^^Read more on: Reuters.

MEANWHILE- Europe is sweltering under record temperatures as a heatwave takes over much of the continent. The UK has issued rare Red Extreme Heat Warnings as temperatures in parts of the country are forecast to reach 39°C today and tomorrow. In France, over 90% of the population is exposed to extreme heat, with over 68k households left without electricity due to heat-related outages.

^^Read more on: BBC, The Guardian, and CNN.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • The government is preparing to replace Egypt’s decades-old in-kind food subsidy system with cash support beginning next fiscal year. The shift would end access to subsidized sugar and cooking oil, instead giving households funds to purchase these goods at market price;
  • Newly-proposed amendments to the Companies Law could give EGX-listed companies new flexibility over their own shares. If the amendments are passed, boards would lose a favorite tool for stonewalling shareholders, and in-kind asset valuations would move out of Gafi’s hands to licensed appraisers registered with the FRA;
  • Private family vehicle Hena Holdings launched a mandatory offer to buy out the shareholders of Integrated Diagnostics Holdings (IDH) — the Cairo-born, London-listed diagnostics group — at a price that values the company at USD 290.7 mn. The USD 0.50-per-share offer is a roughly 11.2% discount to IDH’s last close of 56.3 cents.

☀️ TOMORROW’S WEATHER- Cairo is turning up the heat tomorrow, with temperatures expected to reach a sunny high of 37°C and a low of 24°C, while a steady evening breeze brings some relief. Across the North Coast, temperatures remain relatively mild, with a hazy high of 31°C and a cooler low of 22°C, according to our favorite weather app.

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AFTER HOURS: THE BUSINESS OF SPORTS

Cairo gets serious about Pilates

🧘‍♀️ Fitness studio workouts in Cairo are highly personal. Regulars know one another by name, there is a social element to classes, and instructors often have a loyal community of attendees who have been training with them for years. This was largely a function of a fitness market that remained small and uncorporatized. That’s all starting to change with Reformer Pilates taking center stage.

A minimum of 12-15 dedicated Reformer Pilates studios have opened across Cairo in the past 12 months alone, according to industry participants speaking to EnterpriseAM. They are mainly clustered in New Cairo, Maadi, and Sheikh Zayed — three markets where there is enough space, demand, and purchasing power to absorb new offerings.

The new Instagrammable studios look different, and that is part of the allure. Studios like Clay in Katameya Heights have invested heavily in their interiors. Their “Japandi-inspired aesthetic” (Japanese-Scandinavian) was designed by architecture and interior design firm F&R Partnership.

But the biggest shift is who is opening the new studios… and how they’re being run.

A new look for Pilates

For more than a decade, Egypt's boutique fitness scene followed one template: A talented instructor builds a following, then opens a single studio to teach in. It’s a model that has worked with market veterans like The Studio in Dokki and Fitstop in New Cairo, who introduced Reformers more than 15 years ago.

The new operators are consultants, ex-bankers, and serial founders treating Pilates as a scalable business venture. That’s changing market dynamics in terms of what gets built, how fast it grows, and who is left standing as the competition intensifies. Sync Pilates ’ first branch, in Sheikh Zayed's Walk of Cairo, opened in January 2026. Its co-founder Youssef Sabek spent five years as a consultant with McKinsey doing M&A advisory for sovereign wealth funds and PE firms, much of it on sovereign-backed agreements in professional sports. He has previously invested in padel courts and is also the co-founder of AutoPulse, an AI fitness tracker for cars.

“Pilates is one of the fastest-growing fitness segments globally, alongside padel and pickleball,” Sabek tells us. “We’ve been watching the rapid regional expansion of Reformer studios, and we wanted to do something in Egypt with the same standards that we are now seeing in Saudi Arabia and the UAE.”

Mohamed Abbas, a pharmacist by training, founded Analog Reformer Pilates in Maadi as part of his holistic wellness holding company, Bastian. “I became interested in Pilates when I was recovering from an injury in Paris and Dubai. I came back to Egypt and decided to open a Pilates studio with a back-to-basics concept, and thus the name Analog,” Abbas tells us. Bastian will also include a diagnostics-only medical clinic — “the first of its kind in Egypt,” says Abbas. “It will be designed to feed referrals into Pilates as physiotherapists increasingly prescribe the practice,” he adds.

A growing market

Egypt’s broader health-and-wellness market is valued at USD 11.8 bn as of 2025, per Imarc Group, and is projected to reach USD 16.5 bn by 2034 at a 3.59% compound annual rate — modest by regional standards, but anchored by a corporate-wellness segment Imarc separately sized at USD 247 mn in 2024, heading toward USD 420 mn by 2033.

Globally, Technavio puts the Pilates equipment market's growth at a 14.2% CAGR through 2030, with reformer-equipped studios reporting 25% higher client retention than standard gyms — a figure Abbas cites independently of his own market research.

Do the numbers add up?

Reformer class prices have gone up from roughly EGP 300 in 2016 to EGP 400-500 by 2018, with a further 15-25% increase in the past 18 months. Analog runs a 20% margin on an EGP 700 walk-in — among the most affordable reformer rates in Egypt, Abbas says — against some competitors who charge EGP 1.2-1.4k.

Equipment is the other half of the equation. Top-tier Merrithew and Peak Pilates reformers run USD 7-8k, while Chinese machines are 70% cheaper, with base units near USD 1k. The availability of lower-priced equipment is lowering the barrier to entry — and, both founders warn, the floor on quality.

Whether demand exists to support a dozen-plus competing brands at these prices remains to be seen. Abbas expects a shakeout: “The market will sustain up to a certain point, but there are people who are going to fall if they can’t maintain their quality.”

One of the biggest challenges for the new studios is finding qualified instructors. “Some people take a two-day course online, and they’re like, I’m a teacher,” Abbas says. “These are obviously not the type of instructors we’re looking for.” The certifying body that has long been considered the industry standard is STOTT/Merrithew, for which Sarah Helmy, founder and instructor at The Studio, the only certified master trainer in the country, takes months of intensive training to complete.

Sabek frames the risk in the same terms as Padel’s quality collapse. He explains that there were one or two padel businesses in 2018, then 30 to 50 brands by 2022. Courts that weren’t up to quality standards started appearing everywhere: “This is not something you can afford in a segment like Reformer Pilates catering to an A-plus clientele,” he adds.

What's next?

“We want to build one of the biggest fitness brands in Egypt that can quickly scale,” says Sabek. Four months into operation, Sabek says he is running 45 classes a week and has logged 2k bookings. His plan is to open 10+ branches in five years, fully self-funded, with gains reinvested as each location hits breakeven — which Sabek says takes six to 12 months given the sector’s margins.

Abbas has his sights set on building “a wellness empire.” “People are now willing to invest in their health. Even in an inflationary environment, people allocate a gym budget. My goal is to become a one-stop shop for health and wellness,” he tells us. His growth plans for Bastian are ambitious, but he’s capping Analog’s expansion to one branch per Cairo district, so as not to compromise quality.

3

Under the Lamplight

Hit Makers offers a fascinating look at why and how hits happen

💡 Ever wondered why some brands become household names while others fade into obscurity? In 2017’s Hit Makers: The Science of Popularity in an Age of Distraction, Atlantic’s Derek Thompson draws on centuries of popular culture, media trends, and landmark products to unpack the deceptively simple forces behind commercial success. Whether through natural trajectories, favorable timing, or sheer luck, Thompson explores how hits are made, leaving very little in popular culture unexplored.

What to expect: Across roughly 300 pages and a series of carefully structured chapters, Thompson dives into the stories behind ubiquitous songs, world-famous paintings, and the architects of some of history’s most influential visual brands, uncovering the lesser-known paths that led these works to lasting popularity — some propelled by coincidences, others by curated marketing campaigns, and many by simply being in the right place at the right time. The book transforms thorough research into vivid, absorbing narratives that reveal the mechanics of popularity: exposure, familiarity, ever-shifting tastes, and more.

What we liked: Thompson doesn’t simply detail the stories behind today’s hits — he paints a bigger picture that interweaves history, psychology, sociology, and economics into a wide-ranging and deeply human exploration of why we like what we like. Drawing on quotes and insights from a diverse range of thinkers, he adds unexpected depth to his investigation of popularity. Throughout, Thompson makes it clear that popularity is ultimately human-made and human-centered. As a result, Hit Makers reveals just as much about both the enduring and evolving parts of human nature as it does about the capitalist forces that run modern culture.

The verdict: Hit Makers covers an impressively wide range of ground, yet Thompson excels at simplifying his ideas into clear-cut, distinctly framed explanations. The book’s steady stream of examples, case studies, and compelling stories makes for a difficult-to-put-down read, one that will leave your mind buzzing with curiosity, inspiration, and eye-opening insights. For marketers, it’s a must-read; for sociology and psychology enthusiasts, it’s an endless source of food for thought.

WHERE TO GET IT- You can find the eBook version on Amazon and Kobo.

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Sports

Yet another World Cup record broken

⚽ We’ll be tuning in to six World Cup fixtures today as Groups A, B, and C play their final third-round fixtures. The evening kicks off with two games at 10pm: Group B’s Switzerland vs. Canada at the Vancouver Stadium (beIN Sports Max 2), and Bosnia and Herzegovina vs. Qatar in Seattle (beIN Sports Max 1) — both with knockout implications.

Staying up? Later tonight at 1am, Scotland and Brazil face off in Miami (beIN Sports Max 4), and Morocco and Haiti go head-to-head in Atlanta (beIN Sports Max 3), with Group C’s standings very much up for grabs. Into the early hours at 4am, co-hosts Mexico face Czechia in Mexico City (beIN Sports Max 1), and South Africa take on South Korea in Monterrey (beIN Sports Max 2) — a pair of Group A matches that could go several ways.

🥅 ICYMI-

Ronaldo knows ball. Cristiano Ronaldo scored twice and became the first player in history to score at six different World Cup tournaments as Portugal demolished Uzbekistan 5-0 in Houston, a resounding response to a flat opening draw with DR Congo. At 41, he’s now also the second-oldest player ever to score in a men’s World Cup, and his second goal made him Portugal’s all-time top scorer at the tournament.

AND- Colombia edged DR Congo 1-0, staying atop Group K.

The other fixtures weren't as exciting. England and Ghana drew in Boston, and Croatia beat Panama 1-0 in Toronto — leaving three Group L teams still in contention ahead of the final match day.

**Don’t miss out on the fierce competition in the EnterpriseAM Fantasy World Cup — click on this link or use the code 2CUFGASD to join.

This publication is proudly sponsored by

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Mark Your Calendar

Big laughs at Ain Gamal Vol. 63 in 6th of October City

🎤 Get ready for a night of big laughs as Omar El Gamal takes over The Theater at Mövenpick Hotel in 6th of October City on Friday, 26 June, for Ain Gamal Vol. 63, his biggest show yet. Expect sharp observations, painfully relatable moments, and plenty of crowd favorites, alongside fresh material that promises to keep the laughs coming. The show starts at 9pm. Tickets are available through TicketsMarche.

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GO WITH THE FLOW

What the markets are doing on 24 June 2026

The EGX30 fell 0.1% at today’s close on turnover of EGP 7.7 bn (12.3% below the 90-day average). International investors were the sole net sellers. The index is up 23.6% YTD.

In the green: Raya Holding (+4.2%), Heliopolis Housing (+2.5%), and Kima (+2.1%).

In the red: Egypt Aluminum (-1.6%), CIB (-1.1%), and Palm Hills Developments (-1.0%).


🗓️ JUNE

10 June - 1 July (Wednesday-Wednesday): Artozium at AUC New Cairo.

13 - 27 June (Saturday-Saturday): One Mn In Your Pocket - Real Estate Training at Tolip El Narges, New Cairo.

13 June - 1 July (Saturday-Wednesday): Miriam Hathout: Donkey-Full Summer at Bugendai, O1 Mall in New Cairo.

20-30 June (Saturday-Tuesday): Diwan’s Bumps, Dents, & Bargains Bonanza at Diwan, Heliopolis.

21-28 June (Sunday-Sunday): The Stadium at Playa Strip By G Developments, North Coast.

24 June (Wednesday): Al Nather at CJC 610.

24 June (Wednesday): Decision Makers Conference at the Grand Egyptian Museum.

25 June (Thursday): Sharmoofers at The Village.

25 June (Thursday): Elissa at Almasa Hotel in Nasr City.

26 June (Friday): Hamaki at El Arena.

26 June (Friday): The Play Festival at City Gate, New Cairo.

26 June (Friday): Ain Gamal Vol. 63 at The Theater, Movenpick, 6th of October City.

27 June (Saturday): Tamer Ashour at The Mall of Mansoura.

27 June (Saturday): Daleela Summit at Townhall, District 5.

28-29 June (Sunday-Monday): Omar Khairat at the Cairo Opera House, Zamalek.

16 April - 30 June (Thursday-Tuesday): Early bird registration for The Marakez Pyramids Half Marathon.

30 June (Tuesday): June 30th Revolution.

JULY

1 July - 2 November (Wednesday-Monday): General registration for The Marakez Pyramids Half Marathon.

3 July (Friday): Ruby at O by Michel Fadel, Marassi.

6-20 July (Monday-Monday): Bibliotheca Alexandrina International Book Fair.

7-11 July (Tuesday-Saturday): Khayal Mareed Play at Theatro Arkan.

9-11 July (Thursday-Saturday): Comixandria at Jesuit Cultural Center, Alexandria.

10 July (Friday): Mohamed Fouad, Hamid El Shari, Hisham Abbas, and Hossam Hosny at Tiatro Romano, Marina 2, Al Alamein.

10 July (Friday): Ghaiboba by Saleh El Nawawy at Teatro 90.

17 July (Friday): Tamer Ashour at Cocoon Beach, Sidi Abdel Rahman.

23 July (Thursday): July 23rd Revolution 1952.

23 July (Thursday): Marwan Pablo & Lege-Cy at Porto Golf.

24 July (Friday): Adriatique at the North Coast.

31 July (Friday): Shorelines Festival at Almaza Bay.

AUGUST

6 August (Thursday): Deep House Bible at North Coast.

6-15 August (Thursday-Saturday): The Garden Market at Lakeyard, Hacienda Bay, North Coast.

7 August (Friday): Sherine at Porto Golf, Alamein City.

7 August (Friday): Cairokee at D-Bay, North Coast.

14 August (Friday): Nawal El Zoghby and Wael Jassar at Tiatro Romano, Marina 2, Al Alamein.

21 August (Friday): Black Coffee at Cubix North Coast.

25 August (Thursday): Prophet Muhammad’s Birthday.

SEPTEMBER

26 September (Saturday): John Achkar’s Feena Nehke at Theatro Arkan.

OCTOBER

1-4 October (Thursday-Sunday): She Arts festival across Cairo and Alexandria.

6 October (Tuesday): Armed Forces Day.

15-23 October (Thursday-Friday): El Gouna Film Festival.

24 October (Saturday): Blue 25th Anniversary Tour at New Capital.

28-31 October (Wednesday-Saturday): Egypt’s Cheese Festival at Al Horreya Garden, Zamalek.

NOVEMBER

5 November (Thursday): Gala De Danza at the Grand Egyptian Museum.

11-20 November (Wednesday-Friday): Cairo International Film Festival.

19-28 November (Thursday-Saturday): Cairo Design Week.

28 November (Saturday): Shakira at the Pyramids of Giza.

DECEMBER

11-12 December (Friday-Saturday): TheMarakezPyramids Half Marathon at the Pyramids of Giza.

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