Talwalkars Better Value Fitness Ltd (TBVF) today said it is picking up 19 per cent stake in online fitness and health discovery platform GymTrekker for an undisclosed amount.
The investment in GymTrekker Fitness Pvt Ltd (GFPL) shall enable TBVF to tap the fast-growing online sales channel and further strengthen its existing online presence, the Mumbai-based leading fitness chain said in a statement here.
GymTrekker is an online platform that connects the gym and fitness service providers with potential fitness enthusiasts. It currently has over 3,500 fitness listings, 200 multi-tenure deals and 1,000 online members.
GymTrekker currently operates in Mumbai, Ahmedabad, Pune, Bengaluru and Goa with plans to go pan-India in the coming year, Talwalkars said.
Through the tie-up, GymTrekker expects to get access to untapped markets, including tier-II cities, and access to industry personnel for better business strategy and growth.
According to estimates, 70 per cent of the industry is catered by unorganised players in the local market.
"Location-based online health and fitness centre discovery platforms have tremendous opportunity to bridge the exploding gap in demand and supply that exists in the fitness industry globally and in India," the statement said.
The global health and fitness mobile app market was worth about USD 4 billion in 2014 and can reach USD 26 billion by 2017, it said, citing industry reports.
