Activewear brand eyes TN’s plum fitness pie

Pitching itself as a successful Make in India story, HRX is keen on transforming the fitness landscape of India, with its value-for-money, high quality alternative to global brands. The X in its brand name represents the X-factor or excellence, according to Afsar Zaidi, the co-founder and CEO of the company. In an interview, he speaks about the company’s way forward. 

The combined size of India’s active sportswear market including sports footwear, apparel and accessories is Rs 6,000 cr. It is growing at 13 per cent YOY. By 2020, it is expected to grow at an additional 12 per cent CAGR with sales set to reach $8 bn. 

The brand takes off from various facets of Roshan’s lifestyle and fitness regime to create value offering for consumers in relevant categories. It offers a range of products including sports shoes, men’s joggers, t-shirts, backpacks and select womenswear (joggers, sports bras, t-shirts). Product categories across its activewear, casuals and yoga segments are available on e-commerce platforms like Myntra, Flipkart and Jabong. 

Both markets are very important for us. We have a presence across India in all Tier 1 and Tier 2 cities. Being on the biggest e-commerce platforms in India, the brand caters to urban and semi urban markets equally. As a part of the expansion strategy, one will soon see HRX in the offline retail formats - exclusive brand outlets (EBOs) and multi brand outlets (MBOs) across all major metros. It is a part of the strategy and the natural progression for a brand such as ours. The process of identification of the right retail partners for MBOs and availability of the right locations for EBOs has begun. We are working on the same and the plan should see fruition soon. The target looks like the festive season of 2018. 

HRX and Curefit, the mobile app has a strategic business partnership in the wellness space. As part of the collaboration, Hrithik Roshan’s signature workout - HRX Workout, designed by him along with his personal trainer under his brand HRX, is available exclusively at all Cult centres and eventually will be made available on Cure. fit. Roshan’s status as a fitness idol will amplify Cure.fit’s mass appeal, endorsing the philosophy of holistic health management. This premium offering alone is slated to be a Rs 250 cr annual business. 

Currently the fashion vertical with Myntra is growing at a rate of 100 per cent YoY. Apparel and shoes are the leading categories for HRX. The workout module launched with Cult. fit (the gym brand) is estimated to become a 250 cr offering. The recent partnership in the space of technology and wearables is with Xiaomi India under which HRX and Mi have come together to launch a fitness tracker – the Mi Band - HRX Edition.