City Cave Float & Wellness Centre has unveiled an expansion plan with 22 new stores planned to open in ANZ, reaching 51 stores by the end of this year.
In addition, City Cave aims to add an additional 15 centres in the first half of next year. The retailer has also opened their NSW stores as the lockdown was lifted.
Started in 2018 by Tim Butters and Jeremy Hassell, City Cave’s target is to have a store network of 200 in Australia and 30 in New Zealand.
“This growth will continue internationally across the US, UK and Europe,” the company said in a statement.
“Consumer trends are demonstrating that more and more individuals are prioritising their wellness, with the industry expected to boom over the upcoming years.”
Besides physical health, City Cave also strives to address mental health across Australia, promoting alternative therapies to reduce symptoms of anxiety and depression, which has been surging as the result of the lockdowns.
According to City Cave, the annual growth of the health and wellness spas sector in Australia is attracting $451.6 million and is expected to be 6.6 per cent between this year and 2026.