Startup Fitday to invest Rs60 crore to expand retail presence
1 min read 11 Apr 2021, 07:32 PM ISTFitday will set up 50 brick and mortar stores pan India by 2023 while simultaneously ramping up their online presence
PremiumMUMBAI : Fitday, a nutraceutical start-up, plans to invest ₹60 crore to expand its presence across the country over the next two years, the start-up said today.
It will set up 50 brick and mortar stores pan India by 2023 while simultaneously ramping up their online presence.
Overall, the nutraceutical market in India is expected to see a projected growth of $18 billion by the close of 2025. To further enhance the leverage they already strategized towards, Fitday, an omni-channel nutraceutical platform is looking to strengthen its presence pan-India.
Suresh Raju, founder, Fitday.in said, "The food systems in many countries do not offer adequate nutrient outputs to fulfill health and nutritional needs. Nearly half of the world’s population is malnourished."
He added that with around 840 million having insufficient intakes of protein/energy, and more than two billion people consuming diets that are less diverse than 30 years ago, it is leading to deficiencies in micronutrients.
Micronutrient malnutrition also referred to as ‘hidden hunger’ now afflicts more than 40% of the world’s population.
Fitday says it has created an ecosystem combining research and development, products and services to ensure health and wellness for all, by offering various health and nutrition products, immunity boosters, dietary supplements, among others, while catering to pediatrics, sports nutrition, general health and geriatrics.
Suresh Raju says, “Fitday also offers fitness and nutrition consulting. We have a nutritionist at every store and also Body Mass Index (BMI) Machines at each store. We also offer the services of in-house panel dieticians at our headquarters, who will curate individualized diet charts and products."
Fitday, founded in 2020, has expanded to 1,000 nutraceutical and wellness SKUs. Fitday not only showcases products manufactured by its parent Genomelabs but also global brands like Isopure, Nestlé and Optimum Nutrition.
The Genomelabs products alone on the Fitday platform reported INR 3 Crore in sales during the last fiscal year, the company said.
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