Friday, August 7, 2009

Fitness First To Invest Rs125 Cr To Add Gym Space

“UK-based health club operator Fitness First is planning to invest Rs125 crore in India by 2012 to add two lakh sq ft of gym area in 11 new clubs. The company is also looking to have a total membership of 55,000 across its health clubs in India as it strives to become a Rs200 crore company in the country during next three years. ‘We will be investing around Rs125 crore to add 11 more fitness clubs in Delhi NCR, Mumbai and Bangalore by 2012. This will entail a total space of two lakh sq ft,’ Fitness First India Managing Director Vikram Aditya Bhatia said. He said the investment will come from the UK-based parent company through the Foreign Direct Investment (FDI) route. Fitness First currently operates four clubs in Delhi NCR, Mumbai and Bangalore with a space of 78,000 sq ft. ‘With less than 0.4% of the Indian population visiting organised sector fitness clubs, the potential for us is immense. In our four clubs, we have a membership of around 11,000 and we are adding over 800 new members every month,’ Bhatia said. He said the club-members have an average age of 35 years and 40% of them are women. ‘With 15 clubs by 2012, we are hopeful of having a total membership of 55,000 regulars. Our target is to achieve a turnover of Rs 200 crore in another three years,’ he added. Fitness First has around 550 clubs in over 20 countries across the globe with 5.5 million clients.”

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