Virat Kohli to invest Rs 90cr, set up chain of gyms

download (18)Cricketer Virat Kohli is set to start his own chain of gyms and fitness centres. One of Kohli’s partners in the venture, Satya Sinha, said the total investment to launch 75 centers in three years is around Rs 190 crores. The gyms will be launched under the brand name Chisel. The brand is jointly owned by Kohli, Chisel Fitness and CSE, the sister concern of Cornerstone Sport & Entertainment, which is the agency that manages Kohli.

“The gyms are just a start. There are plans on the anvil to launch fitness inspired clothing lines and tech wearables in the future,” said Gaurav Marya, chairman of Franchise India, which is a commercial and marketing partner in this venture.

The country’s fitness industry comprising branded fitness chains and standalone gyms is pegged at around Rs 1,300 crore. “These days, the reach of fitness centers goes beyond just the top ten cities. Apart from his financial equity, Kohli’s brand equity is so strong at the moment that it may catapult the chain to success,’ says Arvind Singhal, founder of retail consultancy Technopak.

Earlier, Kohli had a minority stake valued at under Rs 1 crore a year in the FC Goa franchise where he was the co-owner. The right-hander had been mulling a foray into business ventures for a while now and the move comes after Indian ODI skipper M S Dhoni launched his line of gyms, SportsFit and Delhi Daredevils player Yuvraj Singh invested an undisclosed amount as seed funding in a mobile phone-based beauty and wellness startup Vyomo. Even Robin Uthappa has co-founded a food startup iTiffin.

Source – ETRetail

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