Fitness and gym chain, Talwalkars Better Value Fitness today announced its international foray into south east Asia, through a master franchise tie up with US-headquartered Snap Fitness for an initial investment of about USD 10 million.
"We are excited to partner with Snap Fitness in our quest for transition from and Indian company to a global one," Prashant Talwalkar, MD and CEO of Talwalkars told reporters here.
While the company did not reveal any roadmap for its expansions in the region, Talwalkar said they would move in a slow and steady pace.
"We took a long time to reach the 100 mark and then the 200 mark. We will ensure that our journey overseas is also sustainable and efficient," he said.
Talwalkars presently has over 211 outlets in 85 cities and towns in the country, and Sri Lanka. Talwalkars claims it presently has a member base of over 2 lakh.
Snap Fitness is among the largest fitness chains globally, and is present in over 24 countries through different franchise partnerships. It is spread across US, Canada, Mexico, Australia, New Zealand, England, Egypt and India with over 2,500 clubs and 1,450 locations opened.
"We are looking to open about a 100 outlets at least in the next 5-6 years in Asia through this partnership," Peter Taunton, founder of Snap Fitness and CEO of Lift Brands said.
As of 2015, Snap Fitness launched over 60 clubs in India across Bengaluru, Delhi-NCR, Chennai, Hyderabad, Mumbai, Pune, Lucknow, Vadodara, Guwahati and few smaller cities.
They have a vision to open over 300 clubs across the country in the next 5 years.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)