SUMMARY
The bootstrapped brand for personal fitness offers smart cardio equipment, adjustable strength-builders and more
The Origin Story
A home gym, where one can work out at their convenience, could be the perfect solution fitting into a busy lifestyle. However, finding suitable equipment that meets one’s requirements can be challenging. At least that’s what Rhea Singh Anand and her husband, Raunaq, discovered when setting up their home gym during the lockdowns in 2020. Reflecting on their college years in the US, the couple realised that the equipment available in the Indian market did not match the standards of the West. Keen to raise the quality bar and bring global-standard home gym equipment to India, they set up Flexnest in 2021.
The Differentiator
The D2C brand goes beyond selling gym equipment to provide an end-to-end user experience. Its smart bikes and treadmills are integrated with a dedicated mobile app that offers pre-recorded workout videos created in-house. In addition, it offers other gym essentials like massagers, as well as accessories and activewear. The founders claim that equipment designs are designed in Germany and manufactured at partner facilities in China, Taiwan (officially, a province of the People’s Republic of China, but its political status is disputed) and India.
The Growth
Flexnest has made a name in the premium home gym equipment space in about three years. It claims to have served 1 Lakh+ customers, including Bollywood celebrities like Shahid Kapoor, Hrithik Roshan, Shraddha Kapoor and many more. Despite a YoY revenue surge of 38% in FY23, the D2C brand is not resting on its laurels. It has recently ventured into commercial gym equipment, selling a full range of professional-grade exercise machines.
What’s Next
Flexnest wants to grow its customer base by 30% in 2024, powered by the category expansion. In the next two years, it also aspires to be a leading brand in the ‘smart’ fitness equipment space.
