Himadri Buch Moneycontrol News
Asia’s largest fitness company, Talwalkar Better Value Fitness today announced a strategic alliance with holistic health guru Mickey Mehta’s 360 degree Wellness Temple.
Talwalkar Better Value Fitness will hold 51 percent stake in the joint venture while Mickey Mehta’s 360 degree Wellness Temple will hold 49 percent shareholding.
Both the companies will jointly invest Rs 80-100 crore over a period of one year for expansion.
According to Mickey Mehta, the partnership will enable him to make world-class holistic health and wellness offerings accessible to everyone across India and across the globe.
Currently, Talwalkars has a footprint of over 220 fitness centers in 85 cities with a customer base of over 2,00,000, while Mehta has 15 wellness centers across Mumbai.
Talwalkar has also acquired 20 gyms in Sri Lanka.
Prashant Talwalkar, Managing Director and Chief Executive Officer, Talwalkars said, “ We believe in Mickeys’ vision and want to create more value through wellness foods, nutraceuticals, merchandise, digital Mickey via Talwalkars network.”
Talwalkar was speaking at an event held in Mumbai to announce the alliance.
Speaking about the alliance Mehta said, "This alliance represents the coming together of a fitness and wellness brand who share the same ideologies, values and vision to bring a holistic offering to consumers in the health and wellness category. My partnership with Talwalkars gives me a national platform and is just the first step in building a global brand footprint."
Talwalkar, the only listed fitness company on the exchanges include gyms, nuform, reduce, zorba and advanced fitness techniques like TRX.
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