MyFitness Forays into UAE's Peanut Butter Market
BRND.ME, previously known as Mensa Brands, has revealed its expansion into the UAE marketplace through its peanut butter product line MyFitness. To facilitate faster shipping times, improved return processes, and better customer service, the organization has established a regional warehouse and operational center in the UAE, which will support the brand's market entry and integration efforts.
MyFitness represents a protein-focused healthy snacking company that will become accessible throughout the UAE via various online platforms, including the rapid 15-minute delivery service Noon Minutes, as well as Namshi and Amazon. The organization is currently in negotiations with prominent offline distribution partners to broaden the brand's presence across contemporary retail and traditional trade networks.
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According to BRND.ME, the UAE's peanut butter sector, worth Rs 2,000 crore, offers substantial expansion potential for MyFitness, with the company seeking to position itself as the preferred protein nutrition choice for wellness-focused consumers in the region.
Commenting on the announcement, Ananth Narayanan, Founder and CEO says, "The UAE marks an exciting next chapter in our journey as we take another Made-in-India brand to the world. With strong e-commerce partnerships and local warehousing, we are confident of replicating our success building MyFitness into a household name across the Middle East.”
The MyFitness product portfolio includes peanut butter, protein bars, chocolate peanut butter-covered rolled oats, date bites, and has plans to introduce a sports nutrition line.
The brand commands a 22 percent market share in India's peanut butter segment and is anticipated to appeal strongly to UAE customers adopting plant-based diets and protein-rich lifestyles. MyFitness is projected to achieve a GMV of Rs 275 crore this year and is positioned to reach Rs 1000 crore in brand value over the coming five years.
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At the beginning of this year, Brnd.Me sold off India Lifestyle Network, which serves as the parent company of the men's lifestyle website MensXP, to the Kolkata-headquartered RPSG Group.
The cash-only deal was said to be worth around $9 million, showing a dramatic decrease from the approximately $60 million that Brnd.Me originally spent on acquiring the asset, reflecting an 85 percent reduction in its value.
According to Brnd.Me, the company maintains profitability with robust positive cash generation and possesses brands that hold leading positions globally within their respective markets. The organization also made it clear that it has no intention of divesting any of its operations for capital raising purposes. The company operates through two distinct business segments: health and wellness, which generates 60 percent of total revenue, and lifestyle, responsible for the other 40 percent.
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In December 2022, Mensa Brand Technologies Pvt Ltd, the parent entity overseeing multiple direct-to-consumer brands within the Mensa Brands portfolio, partnered with India Lifestyle Network to purchase a collection of digital lifestyle assets from Times Internet. This acquisition encompassed the male-oriented platform MensXP, the female-targeted website iDiva, and the influencer marketing company Hypp. The monetary details of this transaction were kept confidential.
During that period, Mensa stated that these purchases were designed to enhance its digital brand development expertise and generate operational efficiencies as part of its strategy to establish a modern, digitally-native consumer enterprise.