Homegrown vegan health supplement brand Fitspire plans to expand its business to tier 2 and 3 cities on the back of growing demand for plant-based and vegan health supplements in the country.

The Delhi-based startup also plans to expand to international markets this year.

Founded by IIM Lucknow alumni Vipen Jain, along with co-founders Nidhi Jain and Hinah Sawhney, in 2020, the startup already caters its products to Tier 1 cities. In a phased manner, it is shifting its focus to Tier 2 and tier 3 cities such as Meerut, Chandigarh, Lucknow and Gwalior.

The startup which reported a sales growth of 50 per cent in 2020, is planning to grow at a 35 per cent CAGR for the next five years.

We plan to continue with our Omni-channel approach and grow through e-commerce channels and our own website. We also want to have a presence in international markets where Vegan product demand is high.

Most people in India, whether they are from Tier 1, tier 2 or tier 3 cities, are becoming increasingly aware of the importance of a healthy diet and lifestyle. Our main focus is to provide the most useful information as well as healthcare supplements that are easily accessible, irrespective of the address.

Understanding the current market environment, competition and economy in this new sector has always been crucial for us, especially as we expand as a brand into various other segments. The rationale behind this expansion of business growth isn’t just limited to revenue diversification. We aim to enter new markets for greater brand recognition.

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