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Hrithik Roshan Signs $15.6 Million Endorsement Deal With CureFit

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Bengaluru based health and fitness startup CureFit announced a Rs. 100 crores partnership deal with Bollywood actor Hrithik Roshan. The actor will be the brand ambassador for the startup for the next five years.

CureFit, according to sources, will accelerate their pan India expansion plans and add 500 new fitness centers, called the Cult. This partnership is said to be one of the largest endorsement deals signed by an Indian startup and is expecting to generate around $ 39.2 million in annual revenue within the next few years.

According to the deal, Hrithik Roshan has been offered an equity stake in the company in place of cash investment. CureFit will also be introducing a customized work out plan from Hrithik’s personal brand, HRX, in all their fitness centers, which will also be available on their mobile app.

CureFit was cofounded by Mukesh Bansal and Ankit Nagori in 2016. Mukesh Bansal is also the founder of fashion ecommerce platform Myntra, which was later sold to Flipkart. In a statement regarding the partnership, Mukesh Bansal said, “CureFit’s growing popularity amongst consumers validates the need for holistic, preventive healthcare solutions in the country. Our partnership with HRX will enable us to expand our market presence and consumer base.” The startup will soon launch a do it yourself format for the HRX work out and Hrithik will be promoting their healthy lifestyle philosophy.

Speaking about CureFit and the partnership, Hrithik Roshan, who is also the founder of HRX, said the HRX work out received a tremendous welcome at the fitness centers and he is delighted with the initial response. He added, “The idea behind this workout is to help people move better, faster and feel athletic by progressing gradually. We are delighted with this initial response and it also gives us great confidence to look at reaching out to newer markets and further the HRX vision through this partnership.”

Many celebrities have signed contracts and invested in upcoming startups in the past couple of years. Recently, Alia Bhatt signed a deal with the online jewelry brand BlueStone. The Baadshah of Bollywood, Shah Rukh Khan and the Perfectionist, Amir Khan have also signed deals with grocery startup BigBasket and ecommerce startup Snapdeal, respectively in 2015. Such endorsements by celebrities give startups immense value with respect to visibility and image.

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Piyush Anchliya Joins Cashfree Payments as CFO Amid Expansion in India’s Fintech Sector

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Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer (CFO), effective April 15, 2025. Anchliya brings over 15 years of experience in investment banking, corporate finance, strategy, and mergers and acquisitions, with senior roles at Barclays, Bandhan Group, and most recently as CFO of Bandhan AMC. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.

In his new role, Anchliya will lead Cashfree’s financial strategy, optimize operations, and support the company’s next growth phase. He will report to CEO and Co-founder Akash Sinha, who highlighted Anchliya’s expertise as vital for sustainable scaling and strengthening the company’s financial foundation. Anchliya succeeds outgoing CFO Vikas Guru, who will assist during the transition.

Founded in 2015, Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. The company recently raised $53 million in funding led by KRAFTON and Apis Growth Fund II and secured key RBI licenses, positioning it for accelerated growth in India’s fintech sector. Anchliya’s appointment comes at a pivotal time as Cashfree aims to expand its leadership in digital payments.

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Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

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Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

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Delhivery’s Acquisition of Ecom Express: A Major Consolidation in Indian Logistics

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Delhivery, one of India’s leading logistics companies, has announced its acquisition of Ecom Express in an all-cash deal valued at ₹1,407 crore. This strategic move marks one of the largest consolidations in the logistics sector and is expected to enhance Delhivery’s scale, profitability, and operational efficiency.

Background

Ecom Express, founded in 2012 and headquartered in Gurugram, has faced significant financial challenges recently. The company canceled its IPO plans in 2024 and laid off hundreds of employees due to operational setbacks, including losing a major client, Meesho, which shifted to its in-house logistics service Valmo. These struggles led to a distressed sale, with private equity investors like Warburg Pincus and Partners Group exiting their stakes entirely.

Strategic Benefits for Delhivery

  1. Enhanced Scale: The acquisition will strengthen Delhivery’s network reach and infrastructure, enabling better service delivery across India.
  2. Operational Synergies: Combining operations with Ecom Express will improve efficiency and reduce costs through economies of scale.
  3. Competitive Edge: With Ecom Express as a subsidiary, Delhivery solidifies its leadership position in the logistics space by offering broader coverage and faster services.

Challenges Addressed

The acquisition mitigates risks from Ecom Express’ financial struggles while addressing past disputes between the two companies over inflated shipment volumes reported by Ecom Express during IPO filings.

Future Outlook

The deal is expected to close within six months after regulatory approval from the Competition Commission of India (CCI). Post-acquisition, Ecom Express will operate as a subsidiary of Delhivery, unlocking new growth opportunities such as advanced logistics technology integration and expanded customer reach.

With ₹5,488 crore in cash reserves as of September 2024, Delhivery is well-positioned to finance this acquisition without compromising financial stability. This move underscores Delhivery’s commitment to innovation and efficiency in India’s rapidly evolving logistics landscape.

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