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

New Delhi, Sep 9 (PTI) Fitness merchandise startup OneFitPlus (OFP) on Wednesday stated 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 tools like treadmills, indoor bikes and bicycles, stated it additionally plans to foray into e-bicycles section by Diwali this yr.

OFP has just lately launched a brand new bicycle ”Bolt” beneath its Urban Terrain model that gives a spread of mountain and fats tire bikes.

“We have witnessed 3x progress in FY2022 (up to now when it comes to variety of models bought) 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 might be ramping up as we plan to enter the e-bikes section by Diwali. These e-bicycles might be priced between Rs 25,000 to Rs 30,000,” he stated.

Mathur acknowledged that its health equipment and train bikes are additionally manufactured in India.

“OFP intends to place main initiatives into manufacturing as they purpose to change into 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 go the associated fee profit to its prospects,” he stated.

Mathur stated OFP supplies an entire ecosystem to their prospects – proper from private coaching to weight-reduction plan and diet plans.

“The manner it really works is {that a} buyer purchases both spin bikes or treadmills from OFP, they will obtain the app on their smartphone or pill, dock the gadget on spin bike or treadmills and join in a stay exercise session. We additionally present on-demand private coaching, diet and food regimen session and have voice assistant integration out there 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 stated the corporate expects the model to clock Rs 100 crore in income in FY23.

“Urban Terrain provides outside bikes with exact technological detailing to supply the last word driving expertise. The bikes are priced between Rs 9,000 to Rs 15,000 and embrace pan-India set up, food regimen plans and private coaching movies,” he stated.

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 fanatics.

“The prospects in small cities are by no means averse to spending on health associated tools. Professionals like medical doctors and attorneys in these cities are notably . That”s what our gross sales knowledge tells us,” he stated.

OFP has additionally launched a multiplayer health gaming model inside its Fitwarz app. The linked recreation might 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 by means of its gamified method. PTI SR DRR

DRR


Disclaimer :- This story has not been edited by Outlook workers and is auto-generated from information company feeds. Source: PTI


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