Cricket legend Sachin Tendulkar has partnered with fashion retailer Arvind Fashion Brands to launch a premium men's apparel brand named True Blue, with the first outlet coming up in Mumbai in May 2016. The new venture will have a pan-India presence with 25-30 stores and the target is set at Rs 200 crore in five years.
The brand True Blue will cater to men aged between 28 and 40 years, in the price range of Rs 1,200-3,500 and premium evening wear costing up to Rs 8,000. It will initially launch casual and formal wear. According to Rajiv Mehta, CEO, Arvind Fashion Brands and Arvind Sports Lifestyle, with premium menswear segment having a lot of gaps, it’s the right entry point for them.
Apart from taking an equity stake in the venture, Tendulkar has also contributed in designing the new collection along with True Blue team. They will soon enter into accessories like small leather goods like wallets, belts and footwear.
His earlier tryst with entrepreneurship was when he had joined hands with famous hotelier Sanjay Narang of Mars Group to launch his restaurant named Tendulkar’s and café named Sachin’s in Mumbai in 2004. However, the cafe shut due to lack of business.
Soon after his retirement from international cricket, Tendulkar actively participated in Indian Super League by acquiring majority stake (60%) in its franchise Kerala Blasters whose total share value is calculated at Rs 200 crore.
Apart from being the brand ambassador, he is a minority stakeholder (7.5%) in Musafir.com, a UAE-based travel portal founded in 2007. His co-owned company --Smaaash Entertainment, where he owns 18% stake, has roped in arguably the biggest football brand-- Cristiano Ronaldo, for its entry into the Middle East with arcade games built around soccer last year.
He even backed celebrity fashion and memorabilia company Universal Sportsbiz which raised Rs 46 crore from Accel Partners and Rs 8 crore of venture debt from Temasek's venture lending platform InnoVen Capital India last year.