Sachin Tendulkar pads up to venture out with a new sports brand
Tendulkar is set for a new innings–off the pitch. The legendary cricketer is becoming an entrepreneur by launching a new sports athleisure brand jointly with former Swiggy Instamart head Karthik Gurumurthy, people aware of the development told ET. Fromer Swiggy executive Karan Arora is also joining as the third cofounder, they said.
A holding company has already been registered for the venture. Early-stage venture fund Whiteboard Capital incubated the startup along with Tendulkar, sources said.
Filings show Tendulkar and Whiteboard Capital are currently on the board of directors of the holding firm named SRT10 Athleisure Pvt Ltd.
A holding company has already been registered for the venture. Early-stage venture fund Whiteboard Capital incubated the startup along with Tendulkar.
The startup is at an advanced stage to raise capital from a top venture capital fund, sources said.
Tendulkar, one of the best-known cricketers in the world, still commands a heavy premium on his brand endorsement deals, but his association with the new venture is not a deal where the startup gives a stake to the celebrity for being the brand’s public face, people cited above said.
Tendulkar is working on the products closely along with the other cofounders, they said.
“They are likely to position it like a rival to top brands like Nike, but at an affordable pricing with a local manufacturing at play as well as government policies promoting local manufacturing,” one of the sources said. “They will soon launch products in sports like
