Fitday.in to open 50 stores by 2023

Fitday, a nutraceutical start-up, on Sunday said it plans to set up 50 brick-and-mortar stores across the country with an investment of about Rs 60 crore.

The company's parent firm, Genomelabs, focuses mainly on product research, formulation, manufacturing and product sales.

''Fitday plans to set up 50 brick-and-mortar stores pan-India by 2023 with an approximate investment of Rs 600 million (Rs 60 crore) while simultaneously ramping up their online presence,'' according to a statement.

The company will fund the expansion through internal accruals.

Fitday founder Suresh Raju cited reports to state that the food systems in many countries do not offer adequate nutrient outputs to fulfill health and nutritional needs.

''Nearly half of the world's population is malnourished. Apparently, 840 million have insufficient intakes of protein/energy, and more than two billion people consume diets that are less diverse than 30 years ago, leading to deficiencies in micronutrients.

''Micronutrient malnutrition, also referred to as 'hidden hunger', now afflicts more than 40 per cent of the world's population,'' he said.

Fitday's main focus is to make nutrition an equitable right, Raju added.

''What sets Fitday apart is that we have created an ecosystem combining R&D (research and development), products and services to ensure health and wellness for all.

''Products-wise, we offer various health and nutrition products, immunity boosters, dietary supplements, to name a few, while we cater to pediatrics, sports nutrition, general health and geriatrics,'' he said.

Nutraceuticals or bioceuticals are pharmaceutical alternatives that are claimed to provide physiological benefits. The company cited industry reports that project the nutraceutical market in India to touch USD 18 billion by the end of 2025.

To further enhance the leverage they already strategised towards, Fitday, an omni-channel nutraceutical platform, is looking to strengthen its presence across India, the company said.

Hyderabad-based Fitday has professionals from the sports, nutrition, holistic and medical wellness realms to help the clients gain the expert advice and additional support they seek, through the platform. With an offline presence, Fitday will come a full circle, it added.

''Fitday also offers fitness and nutrition consulting. We have a nutritionist at every store and also Body Mass Index (BMI) Machines at each store.

''We also offer the services of in-house panel dieticians at our headquarters, who will curate individualised diet charts and products,'' Raju said.

Currently, Fitday hosts over 1,000 nutraceutical and wellness stock-keeping units. Fitday showcases products manufactured by Genomelabs along with global brands like Isopure, Nestlé and Optimum Nutrition.

Launched in 2020 during the peak of the COVID-19 pandemic, the Genomelabs products on the Fitday platform logged sales worth Rs 3 crore during the past financial year.