MS Dhoni has picked up a stake in jewellery maker Bluestone, which is on the verge of going public, while venture fund Peak XV Partners is set to back star batsman Sachin Tendulkar’s sports footwear startup, people informed of the matter said. According to filings, former cricketer Yuvraj Singh has acquired a stake in sports footwear maker Bluestone. sports leisure company Agilitas Sports, founded by Abhishek Ganguly, who was managing director of Puma India.
“Sportsmen, who were once focused on endorsement deals, are now showing greater interest in equity deals as well as playing a larger role in the company’s operations, especially those who have retired from international cricket but have built up a lot of brand value,” said a person familiar with the deals. “This is an area of growing interest, similar to celebrity deals globally.”
On August 14, ET first reported on Tendulkar’s collaboration with former Swiggy Instamart CEO Karthik Gurumurthy for the launch of her athleisure brand.
Famous cricketers are also incubating new consumer businesses that are expected to emerge in the coming months, people familiar with the matter said.
Discover the stories that interest you
Dhoni, one of the first celebrities to endorse Startupshas invested in a variety of businesses, including drone startup Garuda Aerospace, Bengaluru-based fitness startup Tagda Raho, used car platform Cars24 and digital lending platform Khatabook, among others.
Singh, who formed his own investment company YouWeCan Ventures in 2015, has invested in EazyDiner, Wellversed and Healthians, among others.
Queries sent to the companies mentioned above had not received a response by the time this edition went to press on Saturday.
Brand and business mix
This rising wave of investment in startups is not limited to former cricketers; current players are also active in this space. For instance, Hardik Pandya, captain of IPL franchise Mumbai Indians, recently launched his own sportswear brand. He joins peers like Virat Kohli and Rohit Sharmawho are among the most active investors in the business ecosystem.
Industry experts say consumer expectations of celebrities are also changing as the broader ecosystem evolves.
Kohli owns a stake in Universal Sportsbiz, which manages the Wrogn brand, and has a close partnership with Puma for the One8 range of footwear and other products. This, coupled with strong investor interest in Tendulkar’s SRT 10 Athleisure and Agilitas models, highlights the growing demand for sports goods and health and fitness products in the country.
Sharma, who is currently captain of the Indian cricket team, has partnered with healthy snacks maker True Elements to create a licensed brand, ‘RS by True Elements’, to jointly develop a product line focused on the Indian cuisine market. Sharma is also an investor in edtech startup Leo1.
Other cricketers like Sourav Ganguly, Ajinkya Rahane, Gautam Gambhir, Shikhar Dhawan and KL Rahul have also signed multiple partnership deals and are launching new businesses.
Disclaimer
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.