Bollywood actor John Abraham has picked up a minority stake in Mumbai-based Guardian Healthcare, which works as a franchise partner of US-based health and nutrition company GNC in India. The deal size is still undisclosed, however, according to media reports, the funding pegs the company’s valuation at about Rs 250 crore.
“John is extremely passionate and disciplined about fitness and his relationship with the company will be much beyond endorsement fees,” said Shadab Khan, CEO of GNC India.
With this investment, John Abraham will also be the face of GNC in India to help disseminate information regarding supplements and breaking myths and confusion about them.
At present, GNC, or General Nutrition Centre, headquartered in Pittsburgh, has over 75 stores in India and nearly all products are imported from its home market, which translates into higher price tags and a time lag of three-four months.
In March, Guardian Healthcare announced its plans to make GNC products available at approximately 4,000 new retail outlets across India by 2020. This year, the company expects 1,000 retail outlets to add GNC products to their offering this year. It will also sell its full product line through the company’s and via other ecommerce platforms.
Over the past few years, many Bollywood stars have made investment in Indian startups. Bollywood actress Jacqueline Fernandez had invested last year in Rakyan Beverages that makes juices under the Raw Pressery brand, Alia Bhatt bought stake in fashion portal Stylecracker in November 2017, Madhuri Dixit is also an angel investor in a wearable fitness band called GoQii while men's grooming brand Beardo is backed by Suniel Shetty. In 2011, Karishma Kapoor had invested in a kids clothing and accessories portal Babyoye.