Marico acquires 22.5% stake in Revofit

Revofit (Revolutionary Fitness Private Limited) has received a strategic investment from Marico Limited, one of India's leading consumer products companies operating in the beauty and wellness space, by way of a Shareholders' Agreement and Share Subscription Agreement announced on 13th April, 2018. Marico Limited has agreed to acquire equity shares up to 22.5% of the post-acquisition paid-up share capital of Revofit.

Launched by entrepreneur and wellness expert, Sunjay Ghai and incubated by AntFarm, the studio incubator founded by Rishi Khiani, Revofit, is a holistic health platform that allows users to track and manage their nutritional intake, provides guided workouts with celebrity fitness trainers and showcases easy-to-cook recipes from India’s leading Masterchefs. The app engages with users on their fitness journey and removes bottlenecks users hit, while reaching their personal health goal. The company has developed an AI-driven engine for a completely personalized experience. The platform also has a curated marketplace of authentic wellness products, fitness equipments and apparels.

Revofit recently launched the first of its offline verticals Hello Green. Using nutrition as a pillar of preventive healthcare and unique flavours crafted by Vicky Ratnani as the alchemist, Hello Green meals encourage nutrition conscientiousness and move away from the conventional notion of a “diet”, and best of all – they're delivered right to your desk or doorstep. The company plans to introduce a range of healthy FMCG products under the brand.

Over the years, Marico, through its brand “Saffola”, has championed a proactive and healthy lifestyle. The Saffola Life Shop is available on Revofit’s shopping section, which features a curated list of products. This alliance leveraging Revofit’s integrated platform is yet another step towards strengthening Marico’s healthy lifestyle offerings.

Saugata Gupta, MD & CEO, Marico Limited, said, "I am delighted with the partnership with Revofit, a next-generation digital wellness platform. This complements Marico's aspiration to participate in the nutraceuticals and wellness space. This win-win alliance offers a wider choice to consumers looking to incorporate wellness, fitness and nutrition into their daily lifestyle.”

Sunjay Ghai, Co-Founder & CEO, Revolutionary Fitness Private Limited, said, "Marico stands for innovation and we take great pleasure in partnering with them on our journey to make India healthier. Marico's deep domain knowledge in marketing, distribution and product development, coupled with our strengths in digital channels and focus on niche FMCG products for millennials, will enable cross pollination of ideas to create a robust high- growth business. Our team is excited to begin this journey with Marico."

Following the capital infusion, Revofit intends to increase its footprint in the wellness space, expand its cloud kitchen infrastructure and launch a slew of digital applications in the fitness and wellness space. The company will work closely with Marco to shape a healthier India.