Mensa Brands, a direct-to-consumer (D2C) business, announced on Monday that it has bought health food startup MyFitness for an undisclosed fee to grow the brand to Rs 1,000 crore in the following three to four years.
Aiming for a ₹1,000 crore brand
The deal will enable Mensa Brands to expand into foreign markets, scale D2C, introduce new categories, and make brand-building investments. MyFitness is a rapidly expanding consumer-loved brand, according to Ananth Narayanan, founder, and CEO of Mensa Brands.
Furthermore, he added that by utilizing our tech-led strategy, they plan to build the brand to have an omnichannel worldwide presence. In the ensuing three to four years, they hope to grow MyFitness into a Rs 1,000 crore brand.
About the MyFitness Brand
MyFitness, which was founded in 2019 by Mohammad Patel and Rahil Virani, is well-liked by athletes, Millennials, and Generation Z. The first crispy peanut butter in the world and a chocolate peanut butter version are both being introduced by MyFitness in India.
Additionally, it serves as the official snack provider for the Delhi Capitals and Punjab Kings of the IPL. According to Patel, they are overjoyed to be working with Mensa Businesses, a market leader with a track record of scaling brands dramatically. More than 30 SKUs (stock-keeping units) with an average selling price of Rs 500 are currently available at MyFitness.
Former CEO of Myntra and Medlife Narayanan launched Mensa Brands, which is supported by international investors including Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus, and Tiger Global Management. In its first year of business, it recorded a net revenue run rate of Rs. 1,500 crores.