Cure.fit acquires Fitternity to occupy greater market dominance
The largest fitness facilities aggregator in the country, Fitternity has been acquired by Cure.fit, India’s leading health and wellness platform. Cure.fit and Fitternity will together occupy greater market dominance, with a collective user base of 3 million users, in terms of empowering more than 5000 fitness centres spread across the top 20 cities in India.
Yielding a 50-100% increase in footfalls and revenue, Cure.fit is also planning to help offline gyms upgrade their technology, operating procedures and aid them in increasing their visibility for better utilisation. With the gyms opening-up post lockdown and pandemic, Cure.fit and Fitternity stand together at an important position while helping with recovery and scale of the industry to counter the impact of Covid-19.
The company’s recently launched all-access pass- Cult Pass, will be scaled by Cure.fit with this move by associating with the best gyms and Cult centres in India, while Fitternity will continue to exist as a separate platform. Cure.fit’s foray into gyms and equipment-based workouts has also been marked by Cult Pass. Cure.fit will be established as the market leader across all fitness formats with this acquisition and it will further build on that offering.
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.”