Planet Fitness, the popular gym chain, has recently experienced a significant drop in its stock value as consumers rally to boycott the company. The controversy stems from a transgender locker room policy that has sparked outrage among certain groups. This backlash has resulted in a loss of $400 million in the company’s value, according to reports.
The boycott was ignited when a woman named Patricia Silva shared her encounter on social media. She claimed to have witnessed a “man shaving in a women’s bathroom” at a Planet Fitness location in Fairbanks, Alaska. Silva expressed her belief that the individual “wants to be a woman” and expressed concern for a young girl who was also present in the locker room. Silva’s membership was subsequently revoked after she took a photo of the unidentified man.
Planet Fitness has a policy that allows individuals who identify as transgender to use the locker room that aligns with their gender identity, rather than their biological sex. The company’s stance is rooted in their gender identity non-discrimination policy, which states that members and guests are welcome to use the facilities that best align with their self-reported gender identity. However, the company clarified that those who operate in “bad faith” or falsely assert their gender identity will be asked to leave and may have their membership terminated.
This incident is not the first time Planet Fitness has faced backlash over its transgender policy. In 2015, a woman from Michigan filed a lawsuit against the company after her membership was terminated following her complaint about a male in the locker room. The lawsuit argued that Planet Fitness violated her rights under Michigan’s consumer-protection law by failing to disclose an unwritten policy regarding their transgender policy.
The recent boycott of Planet Fitness follows a trend seen with other companies facing controversy related to transgender issues. Bud Light, for example, saw a significant decline in sales after promoting a transgender individual on social media. Reports suggest that the boycott cost parent company Anheuser-Busch InBev over $1 billion in lost sales throughout 2023, leading to a shift in the brand’s marketing strategy.
Prominent conservative users on social media, including Elon Musk, have joined the call to boycott Planet Fitness. Hashtags such as #BoycottPlanetFitness have gained traction, with users expressing their discontent with the company’s transgender policy and asserting that women should not have to share their private spaces with transgender individuals.
Planet Fitness has yet to respond to the recent controversy and the calls for a boycott. As the debate surrounding transgender rights and gender identity continues, it remains to be seen how this will impact the company’s reputation and financial standing in the long run.
