Talwalkars to launch new gym brand ‘Hi Fi’
BSE-listed Talwalkars Better Value Fitness (TBVFL) plans to open 65 new health clubs across the country as it attempts to focus on the home market to gain a larger share of the customer’s wallet and wider market penetration.
Anant Gawande, director and CFO, Talwalkars, said, “We are investing around Rs 100 crore for the rollout of 65 gyms pan-India. Of this, Rs 70-75 crore is being allotted for Talwalkar gyms. The money would be raised from internal accruals. We plan to have 40 more Talwalkar gyms across metros, tier I and II cities in this fiscal year and 25 specialty format Hi Fi gyms in tier III and IV cities.”
The brand name Hi Fi stands for ‘Healthy India Fit India’ movement. “The first Hi Fi gym is scheduled for launch later this week. The next two quarters will see the launch of ten Hi Fi gyms,” added Gawande. “The Hi Fi gyms will fulfil our dream of making fitness facilities available to the masses,” said Madhukar Talwalkar, chairman.