GlobalBees, a leading roll-up e-commerce company, announced its latest investment in fitness equipment and accessories brand, Reach. The company is GlobalBees’s second investment in the sports category.
Sumeet Ubhrani and Sonal Menghani founded Reach in 2013 as a fitness equipment company that aimed to promote exercise at home by renting out equipment and other accessories. Today, the company sells workout equipment, such as weights and dumbbells, commercial gym equipment, leg massagers, and other accessories.
Within a couple of years, Reach has gained a huge market share across the online marketplaces and has created a strong base of over 5 lakh customers across India. The brand enjoys the biggest network of after-sales service technicians and is focused on building products at an affordable price range for every target product category.
The announcement comes at a time when the Indian sports and fitness goods market reached a valuation of $3,994.8 million in 2020 and is expected to grow at a CAGR of 8.9 percent during 2022-2027.
Nitin Agarwal, CEO, GlobalBees, said, “There has been an increased use of smart machines and workout equipment as people’s outlook towards health and fitness has changed considerably since the COVID-19 outbreak. Reach has a strong growth trajectory, and we are confident to further establish them as a top-selling fitness brand. We plan to collaborate closely with the co-founders to make fitness more accessible, enjoyable, and convenient.”
Sumeet Ubhrani and Sonal Menghani, Co-founders, Reach, said, “We are excited to partner with GlobalBees on our journey to create India’s top fitness company with a customer-first approach. GlobalBees is a recognized name in building digital-first brands. With their expertise in scaling brands, we’ll be closer to our vision to provide a world-class fitness experience to our customers while focusing on product innovation.”
GlobalBees now has twelve brands in its portfolio, including The Better Home, andMe, Prolixr, Absorbia, Yellow Chimes, HealthyHey, Rey Naturals, Intellilens, The Butternut Company, Mush, and Strauss. The company now has a well-rounded portfolio across homecare, beauty, and personal care, nutrition and health, fashion jewelry, intelligent eyewear, and sports and fitness categories.
In the next three years, GlobalBees is looking forward to investing in 100+ brands across verticals, including fast-moving consumer goods (FMCG), sports, home organization, and lifestyle.
Kapiva, a homegrown Ayurveda brand operating in the direct-to-consumer space, has revealed the reconfiguration of its founding team. In this announcement, Shantanu, currently COO, and Anuj Sharma, CRO, will be elevated to Co-Founders. This strategic move aims to tap into the vast potential within the Ayurveda and wellness sector. Shantanu's primary focus will be on advancing the brand as a strategic asset, along with curating science-backed products. Meanwhile, Anuj will concentrate on integrating technology to seamlessly deliver comprehensive health outcomes.
The adoption of Ayurvedic offerings has surged globally, particularly in the post-pandemic era. This demand has been fueled by factors like heightened awareness about preventive measures, increased disposable income, and government initiatives supporting traditional medicinal systems. According to industry reports, this market is projected to grow by $6.81 billion from 2021 to 2026, with a compound annual growth rate (CAGR) of 15.32 percent.
Shantanu brings extensive experience in marketing and e-commerce from his roles at Uniqlo and P&G across India, Southeast Asia, and China. Collaborating closely with Ameve, he will accelerate Kapiva's growth by penetrating deeper into the Indian market. Joining Shantanu is Anuj Sharma, a seasoned growth leader who has previously worked with brands like Myntra and Disney+ Hotstar. Anuj has been spearheading the brand's journey as the Chief Revenue Officer (CRO) for the past 2.5 years.
He will be focused on enhancing the tech infrastructure, developing innovative solutions to enhance health outcomes, and driving profitability and sales across different regions. Their collective expertise, combined with Ameve's vision, is poised to elevate Kapiva's standing in the wellness industry.
Ameve Sharma, Co-Founder of Kapiva, stated, “Shantanu and Anuj have made significant contributions to Kapiva’s journey over the last 2 years. Their expertise and experience have propelled the brand's sales fourfold during this period. I'm thrilled to join forces with them to further enhance awareness and adoption in this industry. We strongly believe this is just the beginning, with substantial untapped potential waiting to be unlocked."
Shantanu, Co-Founder of Kapiva (Formerly COO), expressed, "Kapiva is one of the fastest-growing startups in the country. I am thrilled to be part of its journey and contribute to its success. I believe Ayurveda has the potential to positively impact lives, similar to the way Yoga has worldwide. We are gearing up to reshape the narrative of Ayurveda."
"We are entering an exciting phase in an industry that is shaping the future. I am immensely thrilled to join visionaries Ameve and Shantanu on this journey. Together, we can empower global consumers with holistic and contemporary solutions, and align with the government's vision to position India on the global stage by elevating Ayurveda as a significant export," added Anuj Sharma, Co-Founder, Kapiva (Formerly CRO).
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