Mensa Brands, a direct-to-consumer (D2C) business, announced on Monday that it had purchased the health food startup MyFitness for an undisclosed fee, with the intention of growing the brand to Rs 1,000 billion for the following three to four years. With the acquisition, Mensa Brands will be able to grow into international markets, scale D2C, introduce new categories, and build its brand.
MyFitness is a rapidly expanding favorite consumer brand, and by utilizing our tech-led playbook, we will build the brand to have a global omnichannel presence. According to Ananth Narayanan, the founder, and CEO of Mensa Brands, we think we can grow MyFitness into a brand worth Rs 1,000 crore in the next three to four years.
MyFitness, founded in 2019 by Mohammad Patel and Rahil Virani, is well-liked by athletes, Millennials, and Gen Zers. The first crispy peanut butter in the world and a chocolate peanut butter version are both being introduced by MyFitness in India.
Additionally, it serves as the official snack provider for the Delhi Capitals and Punjab Kings of the IPL.
Mensa Businesses is a market leader with a track record of exponentially scaling brands, and we are excited to be working with them, added Patel. The current SKU (stock keeping unit) count for MyFitness is over 30, with an average selling price of Rs 500.
Global investors like Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus, and Tiger Global Management support Narayanan, the founder and former CEO of Myntra and Medlife, and his Mensa Brands company.
In the company’s first 12 months of operation, the net revenue run rate reached Rs. 1,500 crores.
