Tuesday, February 9, 2021

Cure.fit Acquires Fitternity; To Build India’s Largest Fitness Network

* Fitternity will continue operating independently. Gyms will benefit from Cure.fit technology and customer base; expect 50-100% increase in footfalls & revenue

* Customers will get high-quality experience as standard across the gym network along with personalised fitness plan and guidance on the Cure.fit app

* Both companies together to focus on post-Covid recovery of fitness sector

Cure.fit, India’s leading health and wellness platform, today announced its acquisition of Fitternity, the largest fitness facilities aggregator in the country. With a collective user base of 3 million users, Cure.fit and Fitternity will together occupy greater market dominance in terms of empowering more than 5000 fitness centres spread across top 20 cities in India.

Cure.fit is also planning to help offline gyms upgrade their technology, operating procedures and aid them in increasing their visibility for better utilisation, yielding a 50-100% increase in footfalls and revenue. As gyms start bouncing back in the post-pandemic world, Cure.fit and Fitternity together aim to play a pivotal role in helping with recovery and scale of the industry to counter the impact of Covid-19.

While Fitternity will continue to exist as a separate platform, this move will allow Cure.fit to scale Cult Pass – the company’s recently launched all-access pass to the best gyms and Cult centres in India. Cult Pass also marked Cure.fit’s foray into gym and equipment-based workouts. This acquisition seeks to further build on that offering and establish Cure.fit as a market leader across all fitness formats.

Talking about the acquisition, Mukesh Bansal, Co-Founder, Cure.fit, said: “Fitness in India is still in initial stages at sub 1% penetration. Over the next 10-20 years, this will increase to 15-20% like in the west. With increasing health awareness, demand is increasing, and we need to put up quality supply. With Fitternity on board, Cure.fit will improve existing offline gyms, bring them up to speed with better technology, and focus on empowering them to adjust to the post-Covid scenario amid changing consumer expectations.”

Co-Founder & CEO of Fitternity, Neha Motwani, said: “We are delighted to join Cure.fit. At Fitternity, we have always focused on creating innovative solutions to make fitness easy & accessible for Indians - this vision will be further extended with our partnership. While Fitternity will continue to run as it always has, with Cure.fit, we will be able to create a formidable force to grow & drive scale for our partners.”

Cure.fit’s business head, Naresh Krishnaswamy said “Fitternity has done a great job in aggregating, enabling discovery and also helping create the right experiences for both partners and customers. This will help us give variety and choice to both B2C and B2B customers in their fitness pursuit”.

He added: “The first 30 gyms on Cult pass have seen 2-3x increase in revenue. We are confident that top 1000 gyms on the combined platform will be deeply tech-enabled and will realise 50-100% more business from the existing infrastructure.”

Co-founder and COO of Fitternity, Jayam Vora, added: “For Fitternity, this transaction enables a significant evolution of our user proposition, while driving growth for our partner network beyond just recovery to achieving the true potential of the fitness retail business in India. The integrated mix of technology, progressive business models and the neighbourhood gyms and fitness classes will be the secret sauce to empower a Fit India.”

About Cure.fit

Cure.fit Healthcare Pvt Ltd is a holistic integrated healthcare platform headquartered in Bangalore. Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cure.fit aims to address preventive healthcare through a combination of engagement, coaching and delivery using a mix of online and offline channels. Cure.fit caters to living a healthy life through its critical dimensions — physical fitness & wellness. Cult.fit, the fitness category, focuses on physical strength through several offline group workout centres & gyms, across top cities in India. Cure.fit is an app-based service provider and is available on Android and iOS.

About Fitternity

Fitternity is India’s first & largest marketplace and subscription platform for fitness services founded in 2014 by Neha Motwani & Jayam Vora. Having catered to over 11 million users on the platform, 500K paid consumers, the company empowers a network of over 5,000+ branded gyms, boutique fitness classes and luxury hotel swimming pools in India across 17 fitness forms & 15 cities. Fitternity also powers fitness & wellness benefits for 100+ large corporations in India.

No comments:

Total Pageviews