The popular Bollywood actor John Abraham has successfully acquired a minority stake in Guardian Healthcare which is a chain of health, wellness, and beauty stores based in Mumbai. The company operates as a franchise partner of US-based health and nutrition company GNC in India.
The financial details of the deal have not been disclosed, however, it has been reported that this funding is expected to value the company at about $36.46 million (Rs 250 crore).
“John is extremely passionate and disciplined about fitness and his relationship with the company will be much beyond endorsement fees,” said Shadab Khan, CEO of GNC India.
The healthcare company aims to provide care, cures, and convenience to the customers and has employed its pharmacies with qualified and highly trained professionals who advise the patients on their health and wellness issues.
With this move, the actor will also become the face of GNC in India. Currently, GNC consists of over 75 stores in India. Almost all the products are imported from its home market.
“We have identified over half a dozen contract manufacturers that will make the products in India. This will also help bring cost down since import duties will come down,” the CEO added.
GNC India will also market and sell its full product range via the company’s website and through other e-commerce platforms.
Earlier this year, Guardian disclosed its plans to make GNC products available at around 4,000 new retail outlets across India by the end of 2020. Talking about the healthcare and wellness space in the country, it is expected to become a $90 billion industry by 2022.
Apart from John, various other Bollywood actors have also invested in lifestyle sector like Karishma Kapoor, Ajay Devgn, Shilpa Shetty, Alia Bhatt and Jacqueline Fernandez among others.