Colab Platforms Ltd unveils marketplace for Sports and Fitness enthusiasts 'www.colabsports.in'

Colab Platforms Limited [BSE: 542866] a Sports-tech Company has unveiled its Sports and Fitness Marketplace "www.colabsports.in" to cater the needs of the fast-growing sports community in India while providing a powerful digital platform for manufacturers and dealers of Sports Equipment's, products and apparels. The Indian sports / fitness goods and apparels market are leading the way, expected to double in value to $58 billion by 2030, driven by a rising fitness culture and increased discretionary spending. With increasing investments in sports infrastructure, fitness awareness, and India's global ambitions in competitive sports, the sports equipment market alone is expected to grow at a CAGR of 10.5%.

Also, online shopping is emerging as the most preferred channel for purchasing sports goods, equipment, and merchandise due to its convenience, wider product selection, and competitive pricing. This new direct to consumer platform, provides an enriched shopping experience with quality products at a very competitive price.

Mr. Puneet Singh, Managing Director of Colab Platforms Limited said "India's Multi-Billion Dollar Dream to host Olympics in 2036 is expected to take India Sports to new heights and create opportunities across different sectors. The government has also initiated several programmes which have benefitted athletes including the Target Olympic Podium Scheme and Khelo India initiative. These initiates are attracting more people to opt for sports as a career and also increase the demand and spending for sports equipments, accessories, apparels, etc. It is necessary to gear up for capitalizing this huge opportunity and make the most out it as a country.

Launch of www.colabsports.in marks our entry in the fast-growing, billion-dollar, sports and fitness e-commerce market. It also aligns our company's vision with our national vision of hosting the 2036 Olympics. As sports and fitness is becoming an integral part of lives of the people, there has been a huge lag to meet this growing demand. We are not just launching an e-commerce platform; we are building a sports ecosystem that benefits both customers and manufacturers. Our goal is to provide sports enthusiasts with high-quality, affordable gear while supporting Indian sports businesses in expanding their reach."

Source : Equity Bulls

Keywords

ColabPlatforms SportsTech SportsandFitness Marketplace