Sachin Tendulkar launching sports athleisure brand to take on Nike
What's the story
Cricket legend Sachin Tendulkar is launching a sports athleisure brand.
The new venture is a collaboration with ex-Swiggy executives Karthik Gurumurthy and Karan Arora.
It's incubated by Whiteboard Capital, an early-stage venture fund that has set up a holding company named SRT10 Athleisure Pvt Ltd. Tendulkar and Whiteboard Capital are currently serving on the board of directors of this holding firm.
The start-up aims to compete with leading brands like Nike, by offering affordable prices through focus on local manufacturing.
Involvement
Tendulkar's active role in product development
Unlike traditional celebrity endorsement deals, Tendulkar is playing an active role in the development of products for his new brand.
His strategy aligns with government policies that encourage domestic production.
The company is currently negotiating funding from a prominent venture capital fund, and plans to introduce products for sports like cricket and badminton soon.
Trend
Venture reflects celebrity business trend
Tendulkar's involvement in this venture is part of a growing trend of celebrities launching their own businesses.
In India, cricketer Virat Kohli owns a stake in Universal Sportsbiz Pvt Ltd (USPL), which operates the brand Wrogn.
Other celebrities such as MS Dhoni and Deepika Padukone have also invested in start-ups, with Padukone running her own beauty and skincare brand, 82E.
Partnerships
Tendulkar's other business ventures and endorsements
In addition to his new venture, Tendulkar is also partnering with Arvind Fashions on the menswear brand True Blue, which has global expansion plans.
He continues to endorse brands like Spinny, Boost, and BMW.
This move by Tendulkar mirrors global trends where celebrities such as Jessica Alba, Beyonce, Jay-Z, and Rihanna have established successful ventures or product lines beyond their roles as brand ambassadors.