HRX to touch Rs 300 crore in revenue this financial year: Afsar Zaidi
Zaidi, Co-Founder and CEO at HRX says the brand will now foray into the Dubai market. He talks to exchange4media on expansion plans and brand associations
Actor Hrithik Roshan’s HRX brand is now expanding to Dubai. Afsar Zaidi, Co-Founder and CEO at HRX talks to exchange4media on expansion plans and revenue numbers. “The vision is to touch the 1.2 billion Indian lives and we have just begun our journey,” said Zaidi.
Tell us about the journey to Rs 300 crore in revenue? How much has the brand grown since last year?
For any new brand to become profitable or reach where we are today takes many years of gruelling work and unflinching focus. We have achieved this in 5 years. So it’s been an exciting and extremely satisfying journey. The brand has been onto the path of 100 per cent YoY growth since the last two years consecutively. Revenue of Rs 300 crore is the expected turnover for the financial year 2019.
What are the factors that lead to this growth in number?
Mainly people! The right set of partners who believe in the power of HRX helped it grow. I would say we have the right team - well knit together, which envisions and executes growth. Then there are the founding members who laid a foundation which has gone on to becoming the strongest one for celebrity brands in India and of course there is Hrithik for remaining the mentor and inspiration.
How exactly Hrithik Roshan is associated with HRX?
The name HRX is a combination of HR and X, wherein Hrithik’s life lessons and story translated into products, services, communication etc and X stands for ‘Extreme’, which is borrowed from the brand philosophy of ‘Pushing your extreme to become the best version of yourself’.
How much is Hrithik's involvement in HRX brand?
He is as involved as the rest of the team. From inputs on products, designs and quality to campaigns and important financial decision, he has an equal and important vote as the rest of the working team.
What is the fastest selling product of HRX?
The fastest selling items are T-shirts and now shoes are catching on very fast. Our new collection expected by the end of this year will definitely push HRX shoes to the ‘fastest selling’ category.
We know about HRX having a tie-up with Xaiomi, tell us about your other brand associations.
In 2013, Myntra was our first licensee in the fashion category. Within two years convinced by the potential that the brand showcased and the upswing that the fitness industry witnessed, they converted into becoming investors and our JV partners for HRX apparel and footwear categories. This year we are anticipating a turnover of Rs 300 crore. Xiaomi our second licensed category in wearables started in September of 2017 for a year with a single product SKU- The Mi band HRX edition. But we are already into our second year of continued association with having sold almost a million of these bands.
Then there is Curefit. Curefit always envisioned a long play and we hand shook right at the start as equity partners. Today we are over a 100 Cult centres in India with HRX prominently present across all with plans of taking Cult to international markets soon.
What's next for HRX?
We are foraying into new categories that include Innerwear, kid’s apparel, wearable tech, watches and also venturing into new markets like Dubai through Cult. Our Walmart Canada project is already live. Overall we’d be looking at new partnerships and businesses
Tell us a little about your idea of creating a whole fitness ecosystem around the brand. How is that shaping up?
The vision is to touch the 1.2 billion Indian lives and we have just begun our journey. The milestones we have carefully and successfully covered so far have given us a lead over many so-called celebrity brands and even some active wear brands. We have very strong partners walking the tracks with us and with the shared vision and effort this eco system is no more than a few years away.
While we know Hrithik’s name is enough to popularise the brand a product in today’s world is all about how it is packaged and marketed. Tell us a little about HRX’s marketing strategies. Is social media a popular marketing tool for HRX?
Besides having Hrithik in our camp a lot of work goes on in marketing the brand just like any other. Our aim is to become India’s first home grown fitness brand which is preferred and subsequently bought by every discerning India. In order to achieve that level of credibility we are working from the grass root level upwards in identifying fitness, sporting and athletic talent, nurturing and growing them to become our brand evangelists over a period of time. Our community will drive our voice in a few years.
Primary focus is to focus on real people and get them into a fitness lifestyle. This entails on-ground activations and participations in street sports as well as bigger franchises. ATL/Digital marketing continues to be the key driver for brand recall. Product seeding and PR are main tools for initiating trials and creating positive conversations around the brand.
And of course social media is the primary vehicle for reaching out to the young Indians who ironically spend majority of their screen tie shuttling between social media apps, getting influenced and shopping on apps.
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