From chemical engineering to fitness industry leadership, Edgard Corona’s path to becoming the founder and CEO of Latin America’s most successful gym chain showcases a blend of vision, adaptability, and business savvy. His transition from family business to fitness pioneer has transformed workout culture across the continent.

The Chemical Engineer Who Reimagined Fitness

Edgard Corona, the mind behind Smart Fit, didn’t start his career in the fitness world. After finishing his chemical engineering studies at Fundação Armando Álvares Penteado (FAAP) in the late 1970s, Corona initially worked in his family’s sugar mill business. His early professional life took a dramatic turn following a skiing accident that required extensive physical therapy, giving him firsthand experience with fitness facilities and their potential.

In 1996, at age 39, Corona opened his first gym – the Bio Ritmo academy in São Paulo. This premium fitness center would become the foundation for his future empire. Despite initial struggles, Corona’s ability to learn from mistakes and identify market gaps pushed him to keep refining his business approach.

Democratizing Fitness Through Smart Fit

The true breakthrough in Corona’s business story came in 2009 when he spotted a significant opportunity in Brazil’s fitness market. While high-end gyms existed for wealthy clients, average Brazilians had limited access to quality fitness facilities. This insight led to the creation of Smart Fit, a gym chain with an innovative high-value, low-price model.

“We created a model to bring high-standard fitness to people who, until then, had no access to good gyms,” Corona explained about his vision. By charging affordable monthly fees while maintaining quality equipment and attractive facilities, Smart Fit quickly gained traction with Brazilian consumers. The concept proved so successful that just two years after its launch, Smart Fit had grown to 55 locations.

Strategic Expansion Across Latin America

Corona’s ambitions for Smart Fit stretched beyond Brazil’s borders. In 2011, the company kicked off its international growth by establishing its first location in Mexico City. This move marked the beginning of a strategic push across Latin America that would eventually include Chile, Colombia, Peru, and other regional markets.

To fuel this rapid expansion, the CEO secured important investments from financial backers. In 2010, Pátria Investimentos provided significant funding, followed by additional capital from Singapore’s sovereign fund GIC in 2014 and Canada’s CPPIB in 2019. These partnerships gave Corona the resources to accelerate Smart Fit’s development throughout the region.

By mid-2024, the once-single gym had ballooned into a network of over 1,500 locations serving approximately 5 million members across 15 countries. This impressive growth positioned Smart Fit as not only Latin America’s dominant fitness brand but also as the fourth-largest gym enterprise worldwide by customer count.

Weathering Challenges and Embracing Innovation

The fitness industry encountered severe challenges during the COVID-19 pandemic, but Corona’s leadership helped Smart Fit navigate this difficult period. While many competitors permanently closed, Smart Fit preserved its locations and even managed to hold a successful IPO in July 2021, raising R$2.3 billion on Brazil’s B3 stock exchange.

Corona’s forward-looking leadership has consistently embraced technology to enhance customer experience. The company developed digital solutions like online workout programs and mobile apps with personalized training plans during lockdowns. More recently, Smart Fit has started exploring AI integration to further customize training and education for members.

As the dono da Smart Fit continues to guide the company’s evolution, Edgard Corona remains focused on combining scale, innovation, and accessibility. His vision of democratizing fitness across Latin America has not only built a multi-billion-dollar enterprise but also helped millions adopt healthier lifestyles, cementing his legacy as a transformative figure in the regional fitness landscape.