Kishore Biyani controlled Future Group has announced that it will invest $25 Million to establish GYM and Fitness centers on a PAN India basis in a 50:50 joint venture with Mumbai based Talwalkars. What is not clear is whether if this business is a part of Pantaloon Retail India Ltd, the listed arm of Future Group.
Future Group plans to locate its GYM in upscale locations such as Malls. Jeez!!! Why do you have to locate them there ? Is it going to be a status symbol that you work out at a GYM in Central Mall ?
Speaking at the announcement, Mr. Prashant Talwalkar said,
With a target of 50 centers in malls owned by Future Group, our hands are full and we will not look to partner any other developer for the present.
Each GYM/fitness center will be spread over an area of 7,000 to 20,000 sft and will house a juice bar and an indoor swimming pool in addition to the gym and spa.
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