Fitness and wellness unicorn Cult.fit acquires Four At-Home Equipment Brands
- ByTejika Bajaj | December 21, 2021
Fitness and wellness unicorn Cult.fit recently announced that it has acquired four at-home equipment brands- RPM Fitness, Fitkit, Onefitplus and Urban Terrain. While the first three brands are at-home cardio equipment related, Urban Terrain is an outdoor bicycles business. The specifications of the deal however remain undisclosed by the company.
This is the second acquisition in the space by Cult.fit after the acquisition of Tread, a Bengaluru-based smart fitness-bike startup last year. This announcement comes just months after the startup completed a USD 150 million series F fundraise and had entered the unicorn club.
Talking about the recent acquisition spree, the Head of Digital Health at Cult.fit, Shamik Sharma said, “This acquisition enhances our product portfolio of at-home smart exercise equipment. We now have a range of options at all price points, starting from simple air bikes for Rs 5,000-7,000 to premium Cult bikes for Rs 50,000. The fitness hardware market is expanding around the world, and we strive to bring the best innovation to our customers.”
Cult is getting the manufacturing capability for bicycles and service network that extends to over 19,000 pin codes in the country. Cult.fit said it is also expanding the manufacturing capability which will ensure control over the end-to-end supply chain, thus ensuring greater profitability and superior control on margins.
“We are excited to join hands with Cult. With their captive fitness user base, tech know-how, brand and capital, we should be able to double our business within the next year. Additionally, given Cult’s unmatched ability to build fitness communities, we can also rapidly grow our bicycles portfolio to emerge as India’s premier tech-led community bicycle brand,” Shoora Retail founder Mohit Mathur said.
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