How the Mandatory Provident Fund Authority Impacts Hong Kong's Fitness Scene with perFACE

Friday, 4 October 2024, 03:59

Mandatory Provident Fund Authority actions are influencing the landscape of Hong Kong's fitness industry as perFACE plans to acquire the closed Physical gym chain. The medical beauty firm is transforming locations like Wan Chai and Mong Kok into vibrant fitness hubs. This strategic takeover aims to retain staff and provide high-quality health services.
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How the Mandatory Provident Fund Authority Impacts Hong Kong's Fitness Scene with perFACE

The Impact of the Mandatory Provident Fund Authority on Fitness

The Mandatory Provident Fund Authority has become a critical factor in Hong Kong's fitness industry dynamics. perFACE, a prominent medical beauty company, has initiated plans to take over the recently closed Physical gym chain.

Revitalizing Hong Kong's Fitness Scene

This acquisition includes the rebranding of the Wan Chai gym at Capital Building as Perfit and aims to open new branches at Hollywood Plaza in Mong Kok.

  • perFACE is conducting interviews with former Physical employees to retain talent.
  • More than 700 former workers have been interviewed, with 200 retained so far.
  • Plans are in place to negotiate operations at original locations to minimize customer impact.

The Mandatory Provident Fund Authority previously accused Physical's original owner of failing to pay HK$3 million in contributions, leading to the gym's closure.


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