New Delhi: Actor Hrithik Roshan’s fashion and lifestyle brand HRX is all set to launch its offline store this year. Initially, the brand has plans to set up five stores, first stores to be in Bengaluru followed by Pune, Delhi and Mumbai. The brand is targeting malls to set up the stores and these will be Exclusive Brand Outlets, as per HRX’s co-founder and MD of Exceed Entertainment, Afsar Zaidi.
Along with it, HRX also plans to roll out several new product categories shortly.
“The HRX fashion and accessories partnership is exclusive with Myntra in the e-commerce space and will continue the same way. However the next foray would be offline stores this year,” said Afsar Zaidi.
Besides clothing, HRX also has a signature workout called the HRX Workout and a meal plan called HRX Athlete Meal pack sold under the Curefit umbrella.
“This business is currently aggressively expanding and we will soon see these two services available at all big cities in India,” he added.
HRX also offers a fitness tracker called the Mi Band HRX Edition, which is available on the Mi online and offline stores and all major e-commerce portals in India.
HRX being a license brand, it licenses out various product categories and verticals to partners who are capable of managing the product and distribution.
HRX brings the brand expertise, communication, celebrity led marketing, PR, social media initiatives and other association opportunities to the table.
Fashion, fitness and technology are the main pillars of HRX and for each vertical it has licensed out categories to business partners including Myntra for fashion and accessories, Curefit for fitness content and clean eating and Xiaomi for tech wearables.
“Each partnership is structurally different from the other and the financial models are created with mutual agreement,” Zaidi added further.
As he said the company issued first license in fashion category to Myntra but they saw so much promise and potential in the brand and business that they invested in the company and created a JV for fashion with HRX.
Curefit is an equity partnership where HRX and HR both sit at the helm of things in the form of equity owners.
Xiaomi is a pure play licensing arrangement in lieu of royalty payout to the brand.