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Launch · Professional & Local Services

Cult.fit expands into retail and products to boost profitability

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Date
Company
Cult.fit
What it does
fitness services and products
Kind
Launch
Based in
Bengaluru
Founded
2016
Sector
Professional & Local Services

What they do

Cult.fit, founded in 2016, is expanding from gym memberships to selling fitness products like apparel, footwear, and equipment

What happened

Product sales grew from ₹64.2 Cr in FY22 to ₹326.4 Cr in FY25, contributing 30% of overall revenue

Why it matters

The company is building 29 exclusive brand outlets and plans to open 30-35 more stores this fiscal year

The details

  • Cult.fit is expanding beyond gym memberships to sell fitness products like apparel, footwear, and equipment, aiming to become the Decathlon of India.
  • Revenue from product sales grew from ₹64.2 Cr in FY22 to ₹326.4 Cr in FY25, contributing 30% of overall revenue.
  • Operating revenue rose from ₹215.7 Cr in FY22 to ₹1,215.5 Cr in FY25.
  • Cult.fit has built 29 exclusive brand outlets (EBOs) and plans to open 30-35 more stores this fiscal year.
  • Cult Neo is an affordable gym format targeting a price point of ₹10,000-₹12,000 for an annual membership.
  • Cult Neo is growing at twice the pace of the premium category and is expected to expand to 100 Indian cities.
  • Pilates Circle is a premium format with subscriptions costing around ₹30,000 for a few months.

The bigger picture

  • Cult.fit is diversifying revenue streams to improve profitability, with product sales emerging as a key growth engine.
  • The company's product business benefits from years of category expansion, starting with apparel and expanding into footwear, fitness equipment, and accessories.
  • Cult.fit keeps its product design and material selection in-house but outsources manufacturing to remain asset-light.
  • Customer insights from gym interactions help the company identify new product opportunities and stay relevant across fitness categories.
  • Distribution is a key focus, with 70% of product sales currently happening online and plans to increase offline sales.

About the business

  • Cult.fit offers gym memberships, group workouts, and home fitness sessions through its app and website.
  • The company sells fitness products like apparel, footwear, gym equipment, and accessories through its online store and exclusive brand outlets.
  • Cult Neo is an affordable gym format targeting a broader customer base with memberships priced between ₹10,000 and ₹12,000 annually.
  • Pilates Circle is a premium fitness format offering specialized workouts for a higher price point.
  • Cult.fit operates in cities like Bengaluru, Hyderabad, and Delhi, with plans to expand to Lucknow and Pune.
  • The company uses technology to deliver a world-class fitness experience with live workouts and calorie tracking.
  • Cult.fit has a strong online presence with promotions, free trials, and discounts to attract new members.

What happens next

  • Cult.fit plans to expand its offline retail presence with more exclusive brand outlets.
  • The company intends to grow Cult Neo to 100 Indian cities.
  • Cult.fit aims to increase offline sales to a larger share of product revenue.

The deal

Type
results

Founders

  • Mukesh Bansal, co-founder
  • Ankit Nagori, co-founder

About Cult.fit

Product
Hybrid fitness model combining digital workout offerings through app with 700+ physical gym locations
Customers
Fitness enthusiasts seeking gym memberships and digital workout programs
How it makes money
Recurring gym membership revenue plus digital subscription

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