India's connected & at-home fitness startup OneFitPlus, which recently onboarded Kiara Advani and Siddhartha Malhotra as their brand ambassador, today announced the launch of its new 'Made in India' premium bicycles under its sub-brand Urban Terrain.
Following this, the startup has expanded its portfolio beyond the existing mountain, fat-tire bikes into the mass-premium segment. Urban Terrain Bolt will be available exclusively on Flipkart, the statement said.
Urban Terrain is a sub-brand of OneFitPlus that offers functional and comfortable outdoor bikes with precise technological detailing to offer an ultimate riding experience. According to the startup, The bikes are priced between Rs 9,000 to Rs 15,000 and include pan India installation, diet plans, and personal training videos.
Speaking on the launch, Mohit Mathur, Founder & CEO, OneFitPlus, said: “We are excited to bring a new range to match the growing demand for cycling in India. Cycling has become a worldwide trend. It ticks all the boxes in the pandemic-inspired fitness laundry list – from social distancing to a need for a healthy fitness regime. We aim to deliver quality coupled with great functionality to promote an active lifestyle amongst our users.”
Apart from this, the startup also said that it has witnessed 3x growth in FY-22 and expects that its cycling business to touch Rs 100 crore ARR (annual revenue rate) next year.
Founded in 2017, Urban Terrain has a pan India presence, currently offering at-home free installations for over 27,000 pin codes, diet plans to users, and has a ride tracking app that is free for all Urban Terrain customers.
According to industry estimates, the bicycle industry is expected to witness a growth of 20% this fiscal, with sales likely to reach 1.45 crore units compared to 1.2 crore units last fiscal. According to a report by KPMG, the Indian bicycle industry’s market size is expected to grow 3x times in the next 10 years, from $1.3 billion in FY19 to $3.51 billion in FY30.
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