The HRX Case Study: How Hrithik Roshan leveraged sweat equity, Myntra’s supply chain to conquer Indian activewear market
The growth of HRX offers a case study in how a celebrity-led business can expand beyond its founder's popularity. Roshan brought his fitness image, personal involvement and audience appeal to the brand, while Myntra and other partners helped build its distribution, supply chain and pricing strategy.
When Hrithik Roshan launched HRX in 2012, the idea was to bring fitness-inspired clothing to Indian consumers, not simply put a celebrity's name on T-shirts.
More than a decade later, the brand has expanded into footwear, fitness products, luggage and fragrances, with reported revenue exceeding ₹1,500 crore, according to Fortune India in June 2026.
HRX was launched in 2012 by Roshan and his business partners at Exceed Entertainment. The brand entered the online fashion market through an exclusive partnership with Myntra in 2013, when it was positioned around fitness, fashion and affordable active casual wear.
In a February 2026 interview with ETBrandEquity, Roshan explained that the original idea was personal rather than commercial.
"My intention was never to build a brand or a business. I never saw myself as a businessman," he said.
Roshan said HRX emerged from a period when he sought a symbol to help him develop greater discipline and make changes in his own life. He eventually wanted that idea to reach other people as well.
The brand's name reflects this thinking. In an interview with The Economic Times in 2013, Roshan explained that HR stood for his initials and also played on the word "hero", while X stood for "extreme". The idea was to encourage people to push themselves, whether in fitness, work or other parts of their lives.
The commercial challenge was turning that message into products people would actually buy. HRX was not designed only for Roshan's fans. Its co-founder Afsar Zaidi told The Economic Times in 2013 that the target audience also included consumers looking for affordable, quality active casual wear.
The partnership with Myntra became a major turning point. In August 2016, Myntra announced that it had acquired a majority stake in HRX. Contemporary reports put the stake at 51%, leaving Roshan and Exceed Entertainment with the remaining 49%. The financial value of the transaction was not publicly disclosed.
The deal gave HRX access to Myntra's technology, consumer preference data and established online retail operations. It also brought together two different strengths: Roshan and Exceed could focus on the brand's identity and marketing, while the retail partners handled areas such as distribution, supply chain and pricing.
This division of responsibilities helped the brand expand without having to build every part of its retail operation from scratch.
The reported revenue figures show how the business developed. In January 2018, The New Indian Express reported that HRX had generated around ₹100 crore in revenue in the previous year. At the time, the company was targeting ₹500 crore in turnover from apparel and footwear by 2020.
By July 2021, HRX co-founder and chief executive Afsar Zaidi told YourStory that the brand had crossed ₹500 crore in turnover in e-commerce, with apparel, accessories and footwear contributing to sales. The June 2026 Fortune India report put its revenue at more than ₹1,500 crore, reflecting its expansion into several product categories.
Roshan's involvement has also extended beyond advertising. In his February 2026 interview, he said he tracks the performance of HRX's product categories and relies on feedback from Myntra's team, which interacts directly with customers.
He also stressed that product quality is non-negotiable. Discussing footwear, Roshan said he would wear a competing brand if an HRX shoe failed to meet his expectations for fit and performance.
On the film front, Hrithik was most recently seen as Roddy in Nelson Dilipkumar's Jailer 2, which also featured Rajinikanth, Vidya Balan, Mithun Chakraborty, SJ Suryah, and various others.
Trisha Bhattacharya is a Senior Content Producer at Livemint, with over two years of experience covering entertainment news from India and beyond. She spends her days tracking what’s trending, breaking down pop culture moments, and turning fast-moving entertainment stories into sharp, engaging reads that actually make people want to click — and stay. <br> She holds a Master’s degree in English Literature from Lucknow University, a background that shapes her love for layered narratives, strong voices, and stories that linger long after they’re told. Before joining Livemint, Trisha worked with India Today as an entertainment journalist and film critic. There, she reviewed films, covered industry news, and built a strong foundation in storytelling and cultural analysis. <br> Trisha enjoys working at the intersection of media, culture, and audience interest, always looking for fresh angles and formats. Films, shows, and music are not just her beat but her biggest passion — something that naturally reflects in her writing. Whether it’s cinema, streaming shows, music, or internet trends, she approaches every story with curiosity and intent. <br> Outside the job description, she’s unapologetically passionate about films, shows, and music — sometimes a little too passionate, if you ask her. That enthusiasm often spills into her work, adding personality, urgency, and a touch of chaos that keeps her writing alive. For Trisha, entertainment isn’t just a beat — it’s a language she speaks fluently.
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