Philippe-Antoine Defoy has never been afraid to think outside the box. After his success with his Popeye’s nutritional supplement stores, the Quebec entrepreneur decided to invest in the cryotherapy clinic industry.
In recent months he opened the first clinic of the American brand iCRYO in Quebec. This is located in Brossard and offers several health and wellbeing services under one roof.
“I wanted to include diversified companies in my portfolio,” explains Philippe-Antoine Defoy. It is a service company and not a reseller of products. However, it is aimed at a clientele that has the same interests and the same passion.”
Entrepreneur Philippe-Antoine Defoy is confident that his clinic will be successful in the coming years. TOMA ICZKOVITS
Cryotherapy, red light therapy, infrared sauna, pressotherapy, and dry flotation sessions have been available in the United States for several years. Several top athletes and celebrities are already using these treatments.
Cryotherapy involves entering a cabin where the temperature drops to -106 degrees Celsius. The session, which only lasts a few minutes, allows the body to recover quickly. A treatment that has proven itself over the last decade.
“Since the opening, the testimonies have been disgusting. “This is gold,” emphasizes Defoy. To feel the benefits of this and other services, you need to do it two to three times a week.
“We can draw a parallel with training. After the first workout, you will feel sore muscles, but you will not notice any immediate changes in your body. The real gains come over time.”
Cryotherapy involves working for a few minutes in a cabin where the temperature is around -100 degrees Celsius. TOMA ICZKOVITS
Three years of work
Defoy first knocked on the doors of iCRYO executives in March 2020. He reached an agreement with the Texas-based company in the fall.
Why work with iCRYO instead of starting your own company?
“It was the quick route to market and it was a turnkey formula,” explains the Quebec entrepreneur. iCRYO has many years of trial and error experience. I saw the enthusiasm and potential in the United States.”
Defoy believes so much in the vision of American leaders that he has bought shares in iCRYO in recent weeks. He did not want to provide any information about the amount of the transaction. By becoming a minority shareholder, he gained Canadian rights to the brand.
“It’s a calculated risk. I am now part of the international group that will develop this brand in the US and Canada.”
iCRYO plans to open nearly 300 clinics on American soil in the coming years, including 100 by the end of 2024.
“It’s not too fast. The way of doing business is different in the United States. They have some competitors but are less organized or only have one service.
iCRYO offers various services, including pressotherapy, which offers multiple health and well-being benefits. TOMA ICZKOVITS
It’s already expanding in Quebec
In Quebec, Defoy is currently negotiating to open two new clinics in the Montreal region in 2024. There are also plans for other Canadian provinces where business people have already expressed interest.
“Twenty years ago, nutritional supplements were very marginal. Today 80% of the population uses them. Some may call me crazy about iCRYO, but I am convinced that in a few years it will be a company with an interesting customer base.”
Originally posted 2023-11-19 05:16:28.