MultiFit Wellness to invest Rs 60-70 crore in South India market

MultiFit, the functional fitness studio brand, will invest around Rs 60-70 crore in its South India market. The brand, along with Skyefit LLP, is planning to expand its Bengaluru operations by opening 17 large format functional fitness studios in the city over next 12 months. Of these 17 studios, two will open in the next two months and five before the year end.

The announcement by the brand, which earlier this year marked its entry into the city with the launch of its Indiranagar studio, forms a part of its larger South India expansion focus unveiled by the company recently. The company also announced that it would be opening its South India operations headquarters in Bengaluru shortly.

Commenting on MultiFit’s Bangalore expansion plan, Dr Samir Kapoor, said, “Earlier this year at the launch of our first centre at Indiranagar, we had made a commitment of entering the city in a big way and this announcement is a vindication of that commitment. However, given the complexity of this market, which I would personally rate at par with the advanced fitness industries in the UK and the US, it was imperative that we find the absolute right partners who not just understand this space but also share our passion and vision for fitness, nutrition and sports. In Krishna Chivukula Jr and Sumit Rathor we are confident we have found the perfect partners for scripting MultiFit’s Bengaluru story.”

Currently, MultiFit operates a chain of over 32 large format multi-disciplinary functional fitness studios across India, UK and UAE. Further it has another 20 more signed up gyms that are slated to go live over the next 4-5 months, taking the total count to 52 fitness studios. As part of its expansion, MultiFit aims at opening over 100 large format multi-disciplinary functional fitness studios over next year, exponentially expanding its nutrition business, especially the online and sports nutrition with an aim of emerging as a dominate player in the space, and building one of the country’s first gym chain developed fully-customised FitTech platform.

“Both Krishna and I, being serious fitness enthusiasts, have been exploring a good opportunity in the business of fitness for quite some time now, but were not finding the right partner. What we were sure of was that whatever we did it had to be scalable, would positively impact a large cross section of fitness enthusiast and would not involve treadmills and conventional fitness models. When we met Samir and he told us what they were doing at MultiFit we instantly knew that we had to partner with them,” said Sumit Rathor, Partner, Skyefit LLP.

“MultiFit’s holistic large format group driven fitness philosophy and facilities made a lot of sense to us and as fitness enthusiasts we believe that, that is what we all need and look forward to. More importantly their obsession with a scientific approach towards fitness, as well as, what they have been doing with athletes and sports in general, especially on the strength and conditioning front, is something we felt would be a perfect fit for fitness enthusiasts in Bengaluru,” added Rathore.

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