Youth icon Prince Narula takes a stake in Health Supplement Chain Muscle and Strength India
The supplement company plans to invest Rs 20 crore to open 100 stores
19th April 2019, New
Delhi – India:Youth icon, TV actor
and winner of several reality shows in India including MTV Roadies, MTV
Splitsvilla and Big Boss, Prince Narula, has taken a stake in health supplement
retail start-upMuscle and Strength India. The financial terms were not
disclosed due to Non Disclosure Agreement (NDA) signed between the parties. Muscle and Strength India will
expand aggressively and plans to open retail outlets through franchisee route
in the next 12 months with an investment of Rs 20 crore. The investment would
be funded by internal accruals including investments by franchisee owners.
Mr. Narula would now be the face
of the brand and play a key role in strategic expansion plans of the company
including marketing and promotion. “Not just Indian youth but even
senior citizens are now quite serious in maintaining a healthy lifestyle by
exercising regularly and getting supplemented by top quality supplements. For
me, this is the right business to be in as being healthy is very close to my heart.
Our supplement chain would become the gold standard in this sector to provide
genuine, rightly priced and latest supplements for people across age groups and
exercise routines,” Mr. Prince Narula
said.
According to industry data, Indian
dietary supplement market is expected to grow more than 15% (CAGR) in by 2022. The
health supplements and nutraceuticals market in India is currently pegged at
over $4 billion. "We are very happy to have
Prince Narula with us in this exciting venture. We are looking to become market
leader in the organized retail supplement chain stores in the next 2-3 years.
Apart from metros, we believe the real demand is in the tier 2-3 cities where
availability of latest, genuine and economically priced supplements is still a
challenge,” Muscle and Strength India Founder
Mr. Praveen Chirania said.
Mr. Chirania added that
supplements such as protein powders, BCAAs, multivitamins, fat-burners and
pre-workout formulations were most popular amongst both male and female consumers. The company has the widest range
of fitness supplements and sports nutrition products in India, with over 1000
products from 42 + brands. It also plans to enter into Manufacturing of its
white label product across various supplement categories which will widen its
portfolio.
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