Cult.fit, the fitness startup, has announced that it has purchased a controlling investment in F2 Fun & Fitness India, the Indian franchise of multinational gym chain Gold’s Gym. Cult.fit will now run the Gold’s Gym business in India as a result of this acquisition.
According to a press announcement, Cult.fit will focus on independently developing the Gold’s Gym brand, increasing revenues at existing Gold’s Gym locations, and enabling additional expansion through the franchise model.
Cult.fit, the firm founded by Mukesh Bansal and Ankit Nagori, uses an online-offline strategy to provide a variety of fitness services, including offline group exercises at Cult.fit centres and other gym- or equipment-based workouts at partner gyms and fitness centres across the country.
Naresh Krishnaswamy, Growth and Marketing Head, Cult.fit, said: “Partnering with Gold’s Gym, we will be able to strengthen our network further and offer the best of everything in fitness in one place. Gold’s Gym’s significant experience and sizeable footprint via multiple franchise partnerships paired with our deep-tech expertise and process innovation creates a winning formula for our customers and potential franchise partners. Together, we aim to build immense value into the fitness ecosystem generating top-notch tech advancement, great business opportunities, and better returns for our partners in the long run.”