Talwalkars Better value Fitness Ltd

Talwalkars Better value Fitness Ltd

Talwalkars Lifestyles Limited was incorporated on 23rd April 2016 as a Public Limited Company . The Company is engaged in the business of health club by providing all kind of services in ?tness including gyms spas aerobics health counseling yoga steam and sauna bath Jacuzzi physiotherapy service and buy sell manufacture trade brand patent import export or otherwise deal in juices and concoctions health food health drink organic food clothing items ?tness equipments and product and consultancy and franchise services. Company continues leadership position as the largest fitness chain with 251 ?tness centers on consolidated basis across 84 cities and towns and possesses multiple gym models including core gymming and personalized training.The Company's gyms business comprises ?ve broad categories. The Talwalkars gyms business is targeted at the upper middle-class in metros like Tier I and II cities. This air-conditioned modern gym consists of trained dedicated sta? and imported equipment to o?er value added services. The Talwalkars Premium gyms comprise state-of-the-art gyms positioned to attract the a?uent in metro cities and Tier I cities. It comprises cardio sections and strength training zones coupled with personalized services such as snack bars and valet services that enhances service sophistication. Talwalkars HiFi makes ?tness accessible in remote locations. The target audience comprises Tier II III IV cities and catchment areas of metro cities. It present a compact and a?ordable franchise format. The Talwalkars PWG model is positioned to target the entry-level customer across the periphery of prominent cities and metros. Its USP lies in circuit training programme which enable rapid weight loss in an economical and sustainable manner. The Company acquired master franchise rights for commissioning Snap Fitness Gyms headquartered in Minneapolis across the six Southeast Asian countries like Singapore Sri Lanka Vietnam Malaysia Thailand and Bangladesh. With 2500 clubs open or under development in 24 countries Snap Fitness is the world's premier 24/7 ?tness franchise. The Company widened footprint through the franchise route with a lower capex across these territories. It launched user-friendly app for consultation training booking classes and appointments etc. The Company carved out an international presence following acquisition of Power World Gym one of the largest health and ?tness players in Sri Lanka. The Company expanded the PWG model in India and Sri Lanka from 50 to 100. The PWG model was replicated in two metros in India strengthening visibility and market share. The Company launched 20 PWG gyms in Bengaluru and 10 gyms in Delhi in FY 2017. The Company ventured into six Southeast Asian countries with Snap brand. It acquired a 19% stake in Grow?tte a one-stop for all ?tness services within a city to strengthen online presence; with more than 10000 ?tness centres across 14 cities. The Company addressed the growing potential of the online market through Grow?tter and Fitternity portals to o?er best memberships across a considerably larger audience. The Company also enhanced Facebook visibility through digital advertisements and posts reaching reaching lakh of people. The Facebook Page was cross promoted by 95 Big FM radio station. The video posts organically reached 40000 people. The Company acquired Inshape Health and Fitnez Private Limited to enhance presence in Chennai. Apart from these the Company added HiFi gym in Vijaywada and Vishakapatnam. Simultaneously it assigned a dedicated team to scout locations for gyms in top cities across India to scout for prospective Snap Brand locations. On the core business controls side the Company invested in biometric authentication of member entry into gym premises investments in Palm Vein Machine to track personal trainer sessions extensive use of surveillance cameras linking member loyalty points to member attendance facility of cashless transactions and a strong centralized platform enhancing checks balances and accountability. This biometric system was upgraded to facilitate continuous monitoring reduce pilferage and enhance customer experience. On the strategic side the Company invested in online app and portals related to consultation and training like strengthening the ability to in?uence prospective members.In FY 2016-17 a decision taken for major development was to demerge business of Talwalkars Better Value Fitness Limited. The total business was restructured in two parts Gym Business and Lifestyle Business. The Gym business consist of world class gymming experience backed by professional trainers. Fitness centres in four di?erent formats which are Talwalkars Gym Talwalkars Premium Gym HiFi and Power World Gyms. Whereas the Lifestyle Business provided value added services like Nuform (Time-e?cient weight loss program) Reduce (Easy Diet based program) Transform (Holistic ?tness program) Mickey Mehta 360 degrees wellness centres Zumba Merchandise and Zumba (Aerobics and Latin dance inspired ?tness program) Zorba (Yoga) Spa Massage and Aerobics along with club business venture. The National Company Law Tribunal Mumbai Bench (NCLT) as per Order dated 09 March 2017 directed convening a meeting of shareholders for the purpose of considering and approving the Scheme of Arrangement between Talwalkars Better Value Fitness Limited (Demerged Company) and Talwalkars Lifestyles Limited (Resulting Company) and their respective shareholders. A Court Convened Meeting was held on 27 April 2017 wherein the Shareholders of the Company approved the said Scheme of Arrangement. Subsequently NCLT approved the Scheme of Arrangement vide its Order dated 21 December 2018. Accordingly the Demerged Company named as Talwalkars Better Value Fitness Limited (TBVFL) transferred the entire Gym Business to Talwalkars Lifestyles Limited (TLL) the Resulting Company and the cost of acquisition of TLL shares was 71.04%. In consideration of the Scheme TLL issued and allotted equity shares to shareholders of TBVFL in the share entitlement ratio of 1:1. i.e. 1 equity share of Rs 10/- each in TLL for every 1 equity share of Rs 10/- each in TBVFL held by each shareholder as on Record Date of 28 March 2018. Subsequently application for listing of equity shares allotted pursuant to Scheme of Arrangement was made to The National Stock Exchange of India Limited (NSE) and BSE Limited. TLL received in principle approval from NSE on 19 April 2018 BSE on 04 May 2018 and letter con?rming relaxation from Rule 19(2)(b) of the Securities Contracts (Regulation) Rules 1957 from Securities and Exchange Board of India (SEBI) on 20 June 2018. The final listing and trading approval for equity shares of TLL were received from NSE and BSE on 27 June 2018. The Equity shares of TLL were listed and admitted to dealings on NSE and BSE with e?ect from 29 June 2018. Pursuant to Scheme of Arrangement the entire gym business was transferred to the Company with e?ect from 20 February 2018. The Company was awarded FT High-Growth Companies Asia-Pacific 2008. It was accredited 'The Innovative 100 - Certificate of Excellence 2013'. The Company has been awarded the titles of ` The Region's Top 200 Small and Midsize Companies' by Forbes Asia in 2013. The Company ranked among the Top 100 Franchise Opportunities 2016 in `Franchising World Magazine' survey. It bagged the 'Big Chennai Pride Award For the City' - Best Fitness Center awarded to Talwalkars in 2018.