- Meenakshi Kumar |
HRX will open its first physical outlet this year in Bangalore followed by more stores in Pune, Delhi, and Mumbai. HRX is a fashion and lifestyle athleisure brand backed by actor Hrithik Roshan. Currently it sells exclusively on Flipkart’s fashion units Myntra and Jabong. The brand is looking to add new categories like eyewear, innerwear, and wearables. It is also exploring international markets.
HRX licenses various product categories and verticals to partners who are capable of managing the product and distribution. Fashion, fitness and technology are the main pillars of HRX and for each vertical it has licensed out categories to business partners including Myntra for fashion and accessories, Curefit for fitness content and clean eating and Xiaomi for tech wearables.
Besides clothing, HRX also has a signature workout called the HRX Workout and a meal plan called HRX Athlete Meal pack sold under the Curefit umbrella. Each partnership is structurally different from the others and the financial models are created with mutual agreement. Curefit is an equity partnership. Xiaomi is a pure play licensing arrangement in lieu of royalty payout to the brand. The country’s athleisure market is currently valued at Rs 8,500 crores and is expected to reach Rs 54,000 crores by 2020.