🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Mensa Brands acquires MyFitness, to make it Rs 1,000 cr brand

Published 12-09-2022, 04:15 pm
Mensa Brands acquires MyFitness, to make it Rs 1,000 cr brand

New Delhi, Sep 12 (IANS) Direct-to-consumer (D2C) company Mensa Brands on Monday said it has acquired healthfood startup MyFitness for an undisclosed sum, with an aim to make it a Rs 1,000 crore brand in the next three-four years.

The acquisition will help Mensa Brands launch new categories, scale D2C, invest in brand-building and expand to global markets.

"MyFitness is a fast-growing consumer-loved brand and we will scale the brand to have an omni-channel global presence by leveraging our tech-led playbook. We believe we can build MyFitness into a Rs 1,000 crore brand in the next three-four years," said Ananth Narayanan, Founder and CEO, Mensa Brands.

Founded in 2019 by Mohammad Patel and Rahil Virani, MyFitness is popular among fitness enthusiasts, Millennials, Gen Z, and sportsperson.

MyFitness is the first to launch a chocolate variant of Peanut Butter in India and the world's first crispy Peanut Butter.

It is also the official snacking partner of IPL teams, Punjab Kings and Delhi Capitals.

"We're thrilled to be partnering with Mensa Brands, a market leader proven to exponentially scale brands," said Patel.

MyFitness currently has more than 30 SKUs (stock keeping units) with an average selling price of Rs 500.

Mensa Brands, founded by Narayanan who is former CEO of Myntra and Medlife, is backed by global investors like Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus and Tiger Global Management.

It registered a net revenue run rate of Rs 1,500 crore in the first 12 months of operations.


Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.