Virat Kohli to invest 90 crores to set up a chain of gyms
Indian batting sensation Virat Kohli is on the verge of starting his own chain of gyms and fitness centres. Satya Sinha, a partner of Kohli in the venture said that the investment plan is to launch 75 centres across the nation in 3 years at a valuation of about 190 crores.
The gyms and the fitness centres will be launched under the brand name “Chisel” which will be owned by Kohli, Chisel Fitness and CSE. CSE is a subsidiary of Cornerstone Sports & Entertainment, the company which manages the Indian batsman.
Sinha, the director of Chisel Fitness, a Bangalore based startup said that “We will launch gyms of various sizes and with different facilities according to their locations. We are also in talks with international sports-based fitness experts to bring in their expertise.”
Gaurav Marya, chairman of Franchise India, commercial and marketing partner in this business plan said, “The gyms are just a start. There are plans on the anvil to launch fitness inspired clothing lines and tech wearables in the future.”
The fitness industry in India is estimated to be worth 1,300 crores which includes branded fitness chains and gyms. 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,’ said Arvind Singhal, founder of retail consultancy Technopak.
Kohli has shown a keen interest in the business world as he already has a minor stake in FC Goa, a club in the Indian Super League. Other cricketers such as MS Dhoni, Yuvraj Singh and Robin Uthappa also have ventured into the business world.
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