Former Indian cricketer Sachin Tendulkar is reportedly entering the business world with the launch of an athleisure sports store. brand.
Tendulkar will not undertake this adventure alone. According to a report by ETis teaming up with Karthik Gurumurthy, former head of Swiggy Instamart, and Karan Arora, another former Swiggy executive, to co-found the brand..
Formation of the new company
The trio has already taken steps to formalise their business plans. A holding company called SRT10 Athleisure Pvt Ltd has been registered. Along with Tendulkar, early-stage venture capital fund Whiteboard Capital played a pivotal role in incubating the startup.
The report says Tendulkar and Whiteboard Capital are on the board of directors of the newly formed holding company.
With the aim of offering high quality sportswear.
The report notes that the brand aims to offer high-quality sportswear at more affordable prices, taking advantage of local manufacturing capabilities and government policies that support such initiatives.
The products are expected to cater to popular sports in India including cricket and badminton, making the brand highly relevant to the domestic market.
Fundraising
The startup is in advanced talks to raise capital from a major venture capital fund, the report said.
Unlike many other celebrity-endorsed brands, Tendulkar’s involvement goes beyond just being the face of the brand. He is actively involved in product development along with his co-founders, ensuring that the offerings meet the high standards expected of his name, the report added.
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