FitActive and GreenTheory Clash in Podcast Over Finances and Business Practices
During a recent episode of Gurulandia, Eduardo Montefusco from FitActive, along with Alessandro Olivieri and Francesco Caruso from GreenTheory, engaged in a heated discussion, trading accusations of financial improprieties and labor disputes. This 90-minute exchange featured serious claims such as tax evasion, exaggerated revenue figures, and exploitation of employees. Montefusco asserted that FitActive achieved €113 million in revenue and €33 million in EBITDA for 2025, supported by a membership of 500,000 across 190 gyms. In contrast, Olivieri and Caruso reported that Theory Holding earns €6 million monthly, anticipating a €2 million EBITDA in 2026, with a valuation of €103 million. Since October 2025, they have been under investigation by the Guardia di Finanza. The podcast highlighted widespread problems within the low-cost gym industry, including high turnover rates and inadequate wages.
Key facts
- FitActive and GreenTheory owners met on the Gurulandia podcast to exchange accusations.
- Eduardo Montefusco founded FitActive in 2007, applying a low-cost airline model to gyms.
- FitActive has 190 gyms, mostly in Italy, with 500,000 members and 2025 revenues of €113 million.
- GreenTheory operates over 40 gyms in Italy, with Theory Holding reporting monthly revenues of €6 million.
- Theory Holding's valuation is claimed at €103 million, based on projected revenues.
- Montefusco accused GreenTheory of using amateur sports associations to evade taxes.
- Olivieri and Caruso said they converted most sports associations to a joint-stock company and are under Guardia di Finanza review since October 2025.
- FitActive has debts of about €60 million across 142 companies, according to GreenTheory owners.
- Low-cost gym model relies on high member turnover and cost-cutting, leading to overcrowding and low wages.
- GreenTheory faced negative reviews for poor air conditioning, and workers at acquired Hutfit gyms complained about lower job classifications.
Entities
Artists
- Eduardo Montefusco
- Alessandro Olivieri
- Francesco Caruso
Institutions
- FitActive
- GreenTheory
- Theory Holding
- Gurulandia
- Guardia di Finanza
- Hutfit
Locations
- Italy
- Napoli
- Limbiate
- Brianza
- Tuscany
- Bergamo
- Brescia