India’s largest and fastest growing Functional Fitness Studio Brand ‘MultiFit Wellness Private Limited’, today announced the launch of its UAE operations as well as the induction of 11 International Olympic athletes to its Technical Advisory Board, becoming the first Indian gym brand to do so. Following closely to its entry into the hyper-competitive UK market, through the acquisition route, these announcements are part of the brand’s Vision 2020 growth strategy.
As part of this strategy MultiFit aims at (a) reaching a strength of 100 large format multi-disciplinary Functional Fitness studios by next year, (b) exponentially expanding its nutrition business, esp. the online & sports nutrition with an aim of emerging as a dominate player in the space, and (c) building the country’s first gym chain developed fully-customized FitTech platform.
Having started off as a 3000 sq. ft. single studio in 2015, it currently operates a chain of over 22 large format multi-disciplinary Functional Fitness studios across India, UK & UAE marking a presence in 8 cities. Further it has another with 10 more Slated to go live in 60 Days & 20 more signed up gyms which are slated to go live over the next 4-5 months taking the total count to 52 fitness studios.
Commenting on the announcement, Dr. Samir Kapoor, said, “The fitness industry globally is undergoing a tectonic shift with a huge market potential coming into play, driven by rapid rise in lifestyle related NCD’s and urbanization. Even in the UK and US fitness markets which our considered amongst the most evolved fitness markets the penetration is 16.7% and 18% respectively. In India it is a mere 0.3% approximately. Our Vision 2020 growth strategy is thus built around three pillars (a) Rapidly expand in both the global and domestic markets and capture this un-tapped potential, (b) Harness the best practices and talent from the developed markets and use it as a base for innovation and evolution, and (c) create a global community of committed fitness enthusiasts. It is our estimation that the industry though even very attractive at current numbers, will grow at a far greater pace than predicted and will have a huge requirement for not just quality nutrition advice but also for holistic multi-disciplinary physical fitness centres, .i.e. not conventional gyms”.
“Our expansion into UAE, the appointment of 11 International athletes who have played the game at the absolute highest level, i.e. the Olympics and our major foray into nutrition are all in keeping with this belief and endeavour of ours,” added Samir Kapoor.