How Pallav Bihani Is Building Boldfit Into India’s Dependable Fitness Tracking Brand – Forbes India
Pallav Bihani, the visionary behind Boldfit, shares his transformative journey in the fitness industry, narrating a tale that spans three distinct phases of what he describes as his ‘fitness marriage.’ Initially, his foray into fitness was born out of necessity. In 2012, after suffering a slipped disc, Bihani, then a high school student, received a dire warning from his doctors to lose weight or potentially face surgery. At around 105 kilos and often body-shamed, he realized the urgency to heed this warning. Through determination and a disciplined fitness routine, Bihani shed approximately 30 kilos over three years. He fondly recalls this period, saying, “That’s how I was ‘forced’ into the world of fitness.”
Having entered and embraced the world of fitness, Bihani found himself captivated by it. Fitness became more than just a regimen; it evolved into a passion. By 2018, Bihani transitioned from someone who merely engaged in fitness activities to a lover of the lifestyle—so much so that it inspired him to start his own brand, Boldfit. With a background in the family business of medical equipment and pharmacies, and a loan of ₹10 lakh from his father in 2018, Bihani launched Boldfit, which specializes in fitness and sports products.
The question that naturally arises is: Why launch Boldfit when there were already numerous fitness and sports product brands? Bihani believed he saw a significant gap in the market. Unlike the widespread perception of a saturated market, Bihani recognized a dichotomy within it. On one hand, premium multinational brands offered high-quality products at steep prices, catering primarily to a niche audience. On the other hand, local companies offered cheaper alternatives but often compromised on quality. Bihani identified the absence of a brand that could offer high-quality, aspirational products at affordable prices to the masses. “Boldfit was the answer,” he asserts. The brand strategically positioned itself to bridge the divide between price and aspiration, emphasizing accessibility without compromising on quality.
In November 2024, Boldfit’s dedication and strategy bore fruit when the company successfully raised its first institutional funding round of $13 million, with Bessemer Venture Partners taking the lead. From its humble beginnings in 2018 with just two yoga mats, Boldfit has experienced remarkable growth. By December last year, the company had shipped over a million fitness products. Bihani shares the proud financial metrics, “In FY24, we clocked a revenue of close to ₹140 crore and are profitable.” He further adds that Boldfit is currently on track to achieve a run rate of ₹300 crore for FY25.
Despite these remarkable achievements, Boldfit remains focused on its mission. The Bengaluru-based startup had previously secured $8.37 million from existing angels, underscoring the confidence investors have in Boldfit’s vision and trajectory. Boldfit’s journey serves as an inspiring example of how keen market insights combined with personal passion and commitment can drive business success, even in competitive landscapes.
In summary, Pallav Bihani has not only revolutionized his personal relationship with fitness but has also transformed the landscape of the fitness market in India with Boldfit. By offering a viable alternative to premium and low-quality products, Boldfit has become synonymous with reliable and affordable fitness solutions, setting the benchmark for future endeavors in the industry.
