Famous cricketer Sachin Tendulkar is about to set off on a new path as an entrepreneur, marking his transfer from the field of cricket to the business world. Together with former Swiggy Instamart CEO Karthik Gurumurthy and former Swiggy executive Karan Arora, Tendulkar is establishing a sports athleisure company that is expected to revolutionize the market. Even before its formal launch, this new business, supported by Whiteboard Capital, is making waves in the industry.
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Credits: Firstpost
The Genesis of SRT10 Athleisure Pvt. Ltd.
The foundation of this new endeavor is the establishment of SRT10 Athleisure Pvt. Ltd., the brand’s holding company. The name honors Tendulkar’s cricketing background by skillfully fusing his initials with his well-known jersey number. The Economic Times claims that Tendulkar and Whiteboard Capital are already on this company’s board of directors, indicating how serious this project is.
Early-stage venture firm Whiteboard Capital has played a significant role in the growth of the startup by offering both financial support and strategic guidance. Prominent venture capitalists are purportedly investing in the brand at an advanced stage, demonstrating strong investor faith in the business’s potential.
A Strategic Partnership: Beyond Just a Brand Endorsement
Tendulkar’s hands-on involvement in the product development process is what makes this enterprise unique. In contrast to many celebrity-endorsed firms, where the public figure’s role is restricted to contributing their name and image, Tendulkar and his co-founders are apparently actively involved in developing the items. This hands-on approach implies that the brand will represent Tendulkar’s personal values, interests, and possibly even his understanding of what athletes want, in addition to his name.
This is a smart move in a market where customers are becoming more and more concerned with authenticity. Given Tendulkar’s unmatched experience and expertise in the sports world, his engagement might give the brand a distinctive credibility.
Targeting the Indian Market: A Rival to International Giants
Global behemoths like Nike, Adidas, and Puma currently control a large portion of the Indian sports goods market. But Tendulkar’s new business is ready to take on these well-established competitors by presenting itself as an inexpensive but superior substitute. The Economic Times cited sources stating that the brand will prioritize domestic manufacture in accordance with laws supporting homegrown industry.
This approach could offer the brand a significant competitive advantage, especially in terms of pricing. By producing locally, the brand can avoid some of the costs associated with importing goods, thereby passing on the savings to consumers. Furthermore, local manufacturing could resonate with consumers who are increasingly leaning towards products that are “Made in India.”
Expanding the Sports Goods Market
India has a sizable and diverse market for sporting goods, with clothing making up 30% of sales and shoes making up around 60%. The remaining ten percent is allocated among other accessories. It is anticipated that Tendulkar’s brand will initially concentrate on sports like badminton and cricket, where he already has a sizable fan base. This emphasis may facilitate the brand’s rapid market adoption.
Furthermore, by providing goods in areas like clothing, accessories, and shoes, the company can possibly take a sizable chunk of the market. If it is effective, this might open up new markets, attract more customers, and raise the demand for sporting goods in India as a whole.
Conclusion: A Game-Changer in the Making?
There’s more to Sachin Tendulkar’s entry into the sports athleisure market than meets the eye. It’s a calculated move that makes use of his strong brand value, his in-depth knowledge of sports, and his dedication to authenticity. With the support of venture capitalists and seasoned co-founders, this new company has a chance to grow into a significant force in the Indian sports goods industry. All eyes will be on the brand as it gets ready for its official launch to see how it stacks up against well-known global companies and how well it connects with customers. Tendulkar has a proven track record of success both on and off the field, so this project might really be a game-changer.
