Fitness products startup OneFitPlus eyes Rs 350 cr revenue by March ’23

NEW DELHI: Fitness merchandise startup OneFitPlus (OFP) on Wednesday mentioned it’s increasing its product lineup and bolstering its manufacturing capabilities within the nation because it goals to log Rs 350 crore in income by March 2023.
The Hyderabad-based firm, which offers in linked health gear like treadmills, indoor bikes and bicycles, mentioned it additionally plans to foray into e-bicycles phase by Diwali this yr.
OFP has not too long ago launched a brand new bicycle ‘Bolt’ underneath its Urban Terrain model that provides a spread of mountain and fats tire bikes.
“We have witnessed 3x progress in FY2022 (up to now by way of variety of models offered) and establishing its personal manufacturing unit would assist present extra worth, vary and enhance demand fill charges,” OFP founder CEO Mohit Mathur instructed PTI.
He added that the manufacturing unit is in Greater Noida with a manufacturing capability of as much as 60,000 bikes on a yearly foundation.
“The manufacturing line has been arrange for Bolt at the moment however we shall be ramping up as we plan to enter the e-bikes phase by Diwali. These e-bicycles shall be priced between Rs 25,000 to Rs 30,000,” he mentioned.
Mathur said that its health equipment and train bikes are additionally manufactured in India.
“OFP intends to place main initiatives into manufacturing as they intention to turn out to be an ‘atmanirbhar’ (self-reliant) model which is proud to be made in India. From a enterprise standpoint, firm owned manufacturing provides manufacturers like OFP a greater management over provide chain and permits them to cross the fee profit to its clients,” he mentioned.
Mathur mentioned OFP supplies an entire ecosystem to their clients – proper from private coaching to weight-reduction plan and diet plans.
“The approach it really works is {that a} buyer purchases both spin bikes or treadmills from OFP, they’ll obtain the app on their smartphone or pill, dock the gadget on spin bike or treadmills and join in a dwell exercise session. We additionally present on-demand private coaching, diet and eating regimen session and have voice assistant integration obtainable within the app,” he defined.
He added that the corporate at the moment has revenues of Rs 150 crore and goals to the touch Rs 200 crore in revenues by March subsequent yr and Rs 350 by March 2023.
On Urban Terrain, Mathur mentioned the corporate expects the model to clock Rs 100 crore in income in FY23.
“Urban Terrain provides out of doors bikes with exact technological detailing to supply the final word using expertise. The bikes are priced between Rs 9,000 to Rs 15,000 and embody pan-India set up, eating regimen plans and private coaching movies,” he mentioned.
Urban Terrain was arrange in January 2020 and the bikes are priced Rs 11,000 onwards. With Bolt, the corporate is taking a look at tapping into the mid-premium vary (Rs 9,000-15,000).
Mathur identified that 65 per cent of its cycle gross sales comes from tier II and III cities, the place these premium cycles are being bought by health lovers.
“The clients in small cities are in no way averse to spending on health associated gear. Professionals like docs and legal professionals in these cities are significantly . That’s what our gross sales information tells us,” he mentioned.
OFP has additionally launched a multiplayer health gaming model inside its Fitwarz app. The linked sport will be performed on the treadmill and spin bike from the corporate. The platform motivates customers to train by providing a aggressive real-time multiplayer expertise and engages them via its gamified method.

Recommended For You

About the Author: Adrian

Leave a Reply