Thursday, January 14, 2016

Talwalkars acquires 50 % stake in Chennai-based yoga studio Zorba

Talwalkars Better Value Fitness Ltd, a leading gymnasium chains in India, acquired 50 per cent stake in Chennai-based Zorba, a chain of yoga studios for an undisclosed amount.

Talwalkars said that the investment into Zorba will strengthen its wellness and fitness offerings in the Chennai market and will enable the company to expand its yoga training activities across multiple locations in India.

The investment marks Talwalkar's foray into the Yoga space valued at $80 billion globally and growing rapidly, said the company. It may be noted that the Government of India is also planning to take yoga across various spectrums of the society.

The sector is dominated by micro, small and medium enterprises, accounting for more than 80 percent of the enterprises and of late, there has been a spurt in interest among corporates and larger enterprises to look at yoga as a stress relief mechanism, it said. The wellness services market is around 40 per cent of the overall Rs 4,900 crore wellness market in the country.

Zorba was launched in 2013 by Sarvesh Shashi and it offers six courses and eight alternative therapies in yoga, Zumba, posture correction and healing. The company runs three centres in Chennai that offer healing ailments for diseases such as asthma and diabetes.

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