April 21: Boldfit, a digital-first company, specializing in health and fitness products have won the prestigious award “Emerging Brand of the Year” at the Amazon Smbhav Summit 2021, India. During the virtual conclave, Sunil Bharti Mittal, Chairman, Airtel felicitated Mr. Pallav Bihani, Founder of Boldfit.
Winning the title of ‘Emerging Brand of the Year’ is an endeavour ahead to achieve the goal of making health and fitness accessible to all, as envisioned by the Boldfit Founder, Pallav Bihani. In his words, “The need of the hour was unparalleled, accessible fitness. Quality and personalisation were only born as the aftermath. The goal had always been to make health and fitness available to anyone and that has been the driving force for all that we do.”
Boldfit’s strategy of going digital and following a D2C approach has helped it maintain a lean business model and reach customers across the country. Boldfit has conceptualized its broad range of products to make health supplements affordable to people in India.
The Power of the Digital Space.
Boldfit’s success can be attributed to the internet boom, where they used digital tools to better understand their consumers and emerged victoriously. Bihani shares, “The digital space has allowed us to understand market gaps where consumer needs are not being met. The Boldfit purpose has always been to create meaningful products and the internet allows us to do that in the most efficient way possible. Whether it’s understanding our audience and their pain points or optimising our products for the best results, consumer experience has been central to what we do. Unlike a traditional distribution business model, the online only approach has been a boon in our success.
Explaining the scale, they have achieved, he says, “A decade ago, achieving such great scale would have been unimaginable. Today, we see at least one product being delivered, every 40 seconds. We serve a vast audience base, spread across the country- All this, without investing millions in marketing and distribution.”
The demand and consumption of health and wellness products has grown significantly. Bihani observes that the people are now more aware and conscious about investing in their health and fitness. “As the demand grows, we foresee that this is only going to increase in the near future. We have ourselves grown 10X since 2019,” he adds.“The future of Boldfit looks Bold.”
The Second Edition of the Amazon Smbhav Summit, a 4-day virtual event to motivated and celebrated startups, SMBs, and innovators across sectors. The Summit commenced with the key note address by Manish Tiwary, Vice President of Amazon India. This was followed by insights from eminent speakers such as Amit Agarwal (Global GSP & Head of Amazon India), Indra Nooyi (Former chairperson and CEO of PepsiCo) and Sunil Mittal (Chairman of Airtel) among others. They addressed the audience on leveraging technology and unlocking infinite possibilities for an AtmaNirbhar Bharat.
Amazon Smbhav Awards involved a range of categories of nominations which reflected significant development pillars on SMB digitization contributing to a Digital India. It recognized the ones who have fuelled a self-reliant India by delegating small businesses.
2021 is a product intensive year for Boldfit, with a vast portfolio of products lined up for launch- in segments such as Ayurveda, Skin, home, healthcare and nutrition. “With the right mix of products and deeper penetration in our existing channels, we are confident of reaching the coveted ten-digit revenue figure in 2022,” Bihani points out.
The health and fitness space is booming, with multiple VC and PE investors showing interest in the brand. Boldfit is eying for the right partner before they take the next step. Delving deeper, Bihani elucidates, “Being bootstrapped since the beginning has taught us how to best utilise our resources and maximise opportunities.Having scaled our portfolio from two products to over fifty products, sustainably in a span of just two years, we’ve achieved our critical mass now and are ready to take the business to the second gear.”
Boldfit specialized in Yoga mats as its only product type in the initial year, 2019. The Startup is on its way to a 75-crore revenue this year, along with 30 personal health & fitness products as of date. The products offered fall into 3 major categories, namely, Fitness & Yoga, Nutrition, and Health & Wellness. The unwavering commitment to encouraging people to make health and wellness a priority has won them a lot of recognition and loyalty.
User :- Shreya Gupta
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