Hrithik Inks .₹ 100-cr Deal with Cure.fit

Ac­tor to get an eq­uity stake in startup in re­turn of cash in­vest­ment, pro­mo­tion

The Economic Times - - Careers: The Fast Track - Payal.Gan­guly @times­group.com

Ben­galuru: Health and well­ness Startup Cure.fit has signed on Bol­ly­wood ac­tor Hrithik Roshan as brand am­bas­sador in what is touted as one of the largest en­dorse­ment deals signed by an In­dian Startup.

The five-year as­so­ci­a­tion, val­ued at .₹ 100 crore, will give the ac­tor an eq­uity stake in the com­pany in re­turn of cash in­vest­ment, pro­mo­tion and roy­alty from his per­sonal brand HRX’s spe­cialised work­out plan. This plan will be in­tro­duced across Cult fit­ness cen­tres op­er­ated by Cure.fit. The HRX Work­out of­fer­ing, which is avail­able at Cult fit­ness cen­tres run by Cure.fit and will soon be launched on the mo­bile app, is ex­pected to rake in .₹ 250 crore an­nu­ally in the com­ing years.

Roshan’s deal with Cure.fit is the lat­est among star­tups sign­ing on celebri­ties for brand re­call and po­si­tion­ing. On­line gro­cery plat­form BigBas­ket signed on Shah Rukh Khan in 2015 as brand am­bas­sador while Aamir Khan was signed on in 2015 by ecom­merce plat­form Snapdeal for a year-long con­tract. Re­cently, on­line jew­ellery brand BlueStone on-boarded Alia Bhatt to pro­mote its col­lec­tion, in­clud­ing a tele­vi­sion com­mer­cial, slated for re­lease this month.

“His in­volve­ment with Cure.fit will be multi-fold and we will soon launch do-it-your­self for­mat for HRX work­out. He will also be pro­mot­ing Cure.fit’s phi­los­o­phy of a healthy life­style,” said Mukesh Bansal, co-founder of Cure.fit. Flip­kart se­nior ex­ec­u­tive Ankit Nagori started the fit­ness plat­form in 2016.

Bansal, who sold Myn­tra to Flip­kart in 2014 for $350 mil­lion, had worked with Roshan ear­lier at the on­line fash­ion re­tailer. In 2013, Roshan started sell­ing fash­ion prod­ucts un­der the HRX brand ex­clu­sively on Myn­tra, which also ac­quired a 51% stake in the brand.

An­a­lysts track­ing the space said that a typ­i­cal one-year con­tract, which in­cludes one per­sonal ap­pear­ance by the celebrity, is val­ued at .₹ 15 crore. The cost of pro­mot­ing a com­pany on so­cial me­dia can range from .₹ 2.5 lakh per tweet to as high as .₹ 2.5 crore depend­ing on the pop­u­lar­ity of the ac­tor. The one-year-old Cure.fit has al­ready ac­quired three fit­ness brands in­clud­ing Cult, Tribe and a1000yoga, apart from food Startup Kristy’s Kitchen and last mile logistics com­pany Opinio. It has also in­vested in men­tal health plat­form Seran­iti.

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