Mumbai based Talwalkars Better Value Fitness Limited (TBVFL), one of India’s largest fitness chains, is on an expansion spree. As a part of its expansion plans, it launched 20 gyms in Bengaluru in a single day under the Power World Gyms (PWG) brand. This expansion is also part of the company’s strategic partnership with Power World Gyms (PWG), Sri Lanka. Apparently, Talwalkars had made a significant investment in this Colombo based company, its maiden acquisition outside of India in October 2015. Through these Power World Gyms, Talwalkars aim at providing fitness facilities at an affordable cost starting at Rs 5,000 per annum.
Depending on the success of this model in Bengaluru, Talwalkars also have plans to set up Power World Gyms at multiple centres across the country. India has a very low penetration of gyms when compared to the western countries and the market size is around Rs 15,000 crores, which is largely unorganised.
“The company was started by my grandfather when he set up our first gym in Mumbai in 1932. Now, it is our aim to reach every nook and corner of the country. With Power World Gyms, we are presenting an affordable model to our customers. We have done away with many frills. There is no air conditioning, steam, sauna or massage at the Power World Gyms centres. This helps us offer the gym services to our customers at a very affordable cost and is almost half of what we offer at the other Talwalkars Gyms in the country,” said Prashant Talwalkar, Managing Director and CEO of TBVFL, while launching the Power World Gyms in Bengaluru.
Interestingly, Power World Gyms Limited operates and manages one of the largest chain of gyms in Sri Lanka under the brand name ‘Power World’. The company was founded by Talavou F Alailima who was a Sri Lankan record holder for shot put and discus events. He brought the gym concept to Sri Lanka from the United States. “We have trained a lot of top Sri Lankan sports persons and Sanath Jayasuriya is amongst them. We have a network of 19 gyms in Sri Lanka serving around 20,000 members,” said Alailima.
On the other hand, Talwalkars have expanded significantly with more than 176 gyms in more than 80 cities across India, with places as diverse as Bhopal, Kolhapur, Hubli, Dehradun, Jamshedpur and Ranchi. Talwalkars also claim that it has more than one lakh trusted members in the country. The company TBVFL is also listed on the BSE and the NSE, making it one of the very few fitness companies in the country to be listed on the Indian stock exchanges.