While Fitternity will continue to exist as a separate platform, the 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
Health and wellness platform Cure.fit has announced its acquisition of fitness facilities aggregator Fitternity. With a collective user base of three million users, Cure.fit and Fitternity will together occupy greater market dominance in terms of empowering more than 5,000 fitness centres spread across top 20 cities in India.
Cure.fit also plans to help offline gyms upgrade their technology and 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.
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.”
Neha Motwani, Co-Founder and CEO of Fitternity, 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.”
Naresh Krishnaswamy, Business Head, Cure.fit, said, “Fitternity has done a great job in aggregating, enabling discovery and 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 1,000 gyms on the combined platform will be deeply tech-enabled and will realise 50-100% more business from the existing infrastructure.”
Jayam Vora, Co-founder and COO of Fitternity, 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.”
Source: Best Media Info