The company plans to start at least 500 fitness centres by 2020 and over 200 by next year-end, supported by $120 million funds raised recently.
Health and Fitness start-up, CureFit is planning to start 15 Cult fitness centres in Hyderabad by the end of this year. After IKEA, CureFit also sees a massive opportunity in the Hyderabad market. Mukesh Bansal, Co-founder, CureFit, said “Hyderabad will be a huge market for us. The city has a potential for 100 centres in the long term.”
CureFit is also eyeing to expand in various cities in India within the next few years. Addressing the media with brand ambassador Hrithik Roshan, Bansal said that the company will focus on Jaipur, Chennai and Mumbai and intends to open 500 Cult fitness centres across the country by 2021. In total, the company has 100,000 customers in the country and has raised $120 million.
“There are three broad buckets of investments. One is the technology platform where AI-based products and health fitness devices will be developed. We want to have a strong offline footprint across fitness, food, and mental health. The third is brand building,” stated Bansal.
As regards to future expansion plans, Bansal commented, “We want to be a global company eventually when the time is right after sufficient penetration in India.”