New Delhi: Cultfit’s D2C arm Cultsport, which sells sportswear, indoor fitness equipment, cycles, and more is betting on offline as a key channel as it plans to open an exclusive brand outlet every month, shared a top official of the company.
Talking to ETRetail, Shamik Sharma, business head, Cultsport said, “We have over 600 fitness centres across India and eventually three years from now we can have a similar number of offline stores because there isn’t that much penetration of sports retail shops in the country currently.”
Taking note of the opportunity to open hundreds of EBOS over the next few years, Sharma said that the company is going to start with one brand outlet per month for the next several months.
The company recently opened its first store in Bengaluru.
Cultsports which started selling online in 2019 on the Cult application, expanded its presence across key marketplaces such as Myntra, Flipkart, and Amazon. It also went omnichannel by selling in multi-brand outlets offline.
Online the brand grew by about 70 per cent last year, Sharma claimed.
As per Entrackr, the sale of sports apparel and other products accounted for Rs 12 crore in revenue in FY22 for the company’s overall business.
Commenting on the financial performance of the brand, Sharma said, “It’s our fastest-growing business unit.” He added that Cultsport contributes almost a third to Cultfit’s overall revenues and in a few years, he expects the retail arm to drive 50 per cent of the business.
“I think Curefit in the long run will be known for its Cult brand of both fitness centers as well as products.”
Regarding categories, Sharma shared that the company is foraying into newer categories gradually. While it sells footwear, apparel, cycles, and cardio equipment, it is planning to enter categories such as outdoor hiking products, swimwear and accessories, and sporting goods, among others.
