Sachin Tendulkar, the legendary cricketer, is set to embark on a new venture as an entrepreneur. Along with former Swiggy executives Karthik Gurumurthy and Karan Arora, Tendulkar is launching a sports athleisure brand.
According to an ET report, the startup, incubated by early-stage venture fund Whiteboard Capital along with Tendulkar, has already registered a holding company named SRT10 Athleisure Pvt Ltd.
According to filings quoted by the financial daily, Tendulkar and Whiteboard Capital are currently on the board of directors of the holding firm. The startup is in advanced talks to secure funding from a leading venture capital fund. Unlike typical celebrity brand endorsement deals, Tendulkar is actively involved in product development alongside his co-founders, sources told ET.
Sources suggest that the brand aims to position itself as a competitor to top brands like Nike, but with affordable pricing and a focus on local manufacturing, aligning with government policies that promote domestic production. The startup plans to launch products in sports such as cricket and badminton in the near future.
Gurumurthy chose not to comment on the new venture with Tendulkar.
The demand for sports goods and fitness awareness in the country is currently at an all-time high. The sports goods market is predominantly driven by shoes, which make up around 60% of sales, followed by apparel at 30%, with the remainder in accessories.
Tendulkar’s involvement in this new venture adds to the growing trend of celebrities establishing their own businesses, some of which have been sold for substantial amounts.
In India, cricketer Virat Kohli owns a stake in Universal Sportsbiz Pvt Ltd (USPL), which runs the brand Wrogn, and has collaborated with Puma on the One8 range of products.
Other celebrities, including MS Dhoni and Deepika Padukone, have invested in startups, with Padukone running her own beauty and skincare brand, 82E, and Katrina Kaif partnering with Nykaa for the Nykaa KK beauty brand.
Globally, celebrities such as Jessica Alba, Beyonce, Jay-Z, and Rihanna have also established successful ventures or product lines, taking on roles beyond being brand ambassadors.
According to an ET report, the startup, incubated by early-stage venture fund Whiteboard Capital along with Tendulkar, has already registered a holding company named SRT10 Athleisure Pvt Ltd.
According to filings quoted by the financial daily, Tendulkar and Whiteboard Capital are currently on the board of directors of the holding firm. The startup is in advanced talks to secure funding from a leading venture capital fund. Unlike typical celebrity brand endorsement deals, Tendulkar is actively involved in product development alongside his co-founders, sources told ET.
Sources suggest that the brand aims to position itself as a competitor to top brands like Nike, but with affordable pricing and a focus on local manufacturing, aligning with government policies that promote domestic production. The startup plans to launch products in sports such as cricket and badminton in the near future.
Gurumurthy chose not to comment on the new venture with Tendulkar.
The demand for sports goods and fitness awareness in the country is currently at an all-time high. The sports goods market is predominantly driven by shoes, which make up around 60% of sales, followed by apparel at 30%, with the remainder in accessories.
Tendulkar’s involvement in this new venture adds to the growing trend of celebrities establishing their own businesses, some of which have been sold for substantial amounts.
In India, cricketer Virat Kohli owns a stake in Universal Sportsbiz Pvt Ltd (USPL), which runs the brand Wrogn, and has collaborated with Puma on the One8 range of products.
Other celebrities, including MS Dhoni and Deepika Padukone, have invested in startups, with Padukone running her own beauty and skincare brand, 82E, and Katrina Kaif partnering with Nykaa for the Nykaa KK beauty brand.
Globally, celebrities such as Jessica Alba, Beyonce, Jay-Z, and Rihanna have also established successful ventures or product lines, taking on roles beyond being brand ambassadors.
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