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Thursday, 24 November 2016 00:01 - - {{hitsCtrl.values.hits}}
Power World launched 20 gyms in Bangalore, India in a single day recently. Pictured is Sports Minister Dayasiri Jayasekara (second from left) at the ribbon-cutting launch in Sri Lanka flanked by Power World Gyms Founder/Managing Director Talavou Alailima (left) and Talwalkars India Director Harsha Bhatkal
Power World Gyms in Sri Lanka, together with India’s Talwalkars, has created yet another first with the simultaneous launch of 20 gyms in Bangalore, India. Both of the partners Power World Gyms and Talwalkars Better Value Fitness Ltd. boast a wealth of industry experience as market leaders in their respective countries.
Sri Lanka’s pioneer gym chain Power World Gyms, with over two decades of experience, has developed a model that provides quality fitness centres at an affordable price for people in the middle and upper income segments. The entry into the Indian fitness industry, with the launch in Bangalore, raises Power World Gym’s profile in the Indian sub-continent.
Power World Gyms Founder Talavou Alailima commenting on the occasion said: “The Power World Gyms model has evolved over two decades and is well-tested. This has enabled us to create a network of 17 thriving gyms serving over 16,000 members in Sri Lanka. We are delighted that our partnership with Talwalkars has resulted in expanding the Power World Gym’s model into India. We believe that this has tremendous potential in targeting the underserved majority with affordable gym facilities. Bangalore is well known for its large bank of young professionals looking for a healthy lifestyle. Hence, we chose Bangalore as our first launch city in India.”
Talwalkars Better Value Fitness Ltd. Managing Director Prashant Talwalkar said: “Bangalore is on the cusp of transformational growth in the health and fitness market, with increasing disposable incomes coinciding with heightened levels of awareness in maintaining healthy lifestyles. Talwalkars has always been at the forefront of delivering tailor-made fitness solutions to its discerning customers. Therefore, with our Sri Lankan partners, we are extremely pleased to launch 20 Power World Gyms in a single day!”
In October 2015, Talwalkars Better Value Fitness, commonly known as Talwalkars and is India’s largest chain of fitness centres made a strategic investment in Power World Gyms, its maiden investment outside of India. Talwalkars, with over 176 gyms across 84 cities, offers a diverse set of services including gyms, spas, aerobics and health counselling under the brand ‘Talwalkars’ to an active member base of over 166,000.
In addition to it being the leader in the Indian fitness industry since 1932, it was the first fitness company to be listed on the Bombay Stock Exchange. It was listed by Forbes Asia in the ‘Best Under a Billion’ companies for 2013. Talwalkars recorded revenues of $ 36 million in 2015 with a market capitalisation of $ 83.6 million. India has an extremely low penetration of gyms compared to most of the other countries. This has been largely attributed to affordability and proximity factors. The Power World-Talwalkars partnership hopes to address both these issues and cater to the rapidly-growing demand for fitness facilities in India.
– Pix by Daminda Harsha Perera
