Cultsport, the direct-to-consumer (D2C) branch of Cultfit, specializing in the sale of sportswear, indoor fitness equipment, cycles, and more, is placing its strategic focus on offline retail. According to a senior executive of the company, Cultsport intends to establish an exclusive brand outlet every month as part of its expansion plan.
Shamik Sharma, the business head of Cultsport, said, “With more than 600 fitness centers throughout India, our goal is to have a comparable number of offline stores in the next three years. This is driven by the limited presence of sports retail shops in the country at present.”
Acknowledging the potential to launch numerous Exclusive Brand Outlets (EBOs) in the coming years, Sharma stated that the company plans to initiate the process by establishing one brand outlet every month in the upcoming months.
The company recently opened its first store in Bengaluru.
Cultsports, which began online sales in 2019 through the Cult application, expanded its presence across key marketplaces such as Myntra, Flipkart, and Amazon. It also adopted an omnichannel approach by selling in offline multi-brand outlets.
Sharma asserted that the brand experienced a growth of approximately 70 percent online last year.
According to Entrackr, the revenue generated from the sale of sports apparel and other products contributed INR 12 crore to the overall business of the company in FY22.
Commenting on the financial performance of the brand, Sharma said, “It’s our fastest-growing business unit.” He added that Cultsport contributes almost a third to Cultfit’s overall revenues and in a few years, he expects the retail arm to drive 50 per cent of the business.
“I think Curefit in the long run will be known for its Cult brand of both fitness centers as well as products.”
In terms of product categories, Sharma mentioned that the company is progressively venturing into new areas. While currently offering footwear, apparel, cycles, and cardio equipment, there are plans to expand into categories like outdoor hiking products, swimwear and accessories, and sporting goods, among others.