IPL 2022: Why BCCI should thank PE funds
PEs have been infusing millions of dollars in technology and D2C brands enabling them to spend a hefty amount on the tournament

Indian Premier League (IPL) is one the most captivating and popular cricket tournaments in India and abroad. Even during the pandemic, the league recorded a 7 per cent increase in its brand value touching US$4.7 billion, according to a report of Brand Finance which also claims that the tournament has seen a spectacular growth of 134 per cent since its launch in 2009.
A part of this success is credited to top-notch brands in categories like automobiles, FMCG, mobile phones and beverages that have sponsored the league for years as on-ground, team or broadcast partners. But over the past couple of years, this profile of IPL sponsors has witnessed a sea change. Technology and direct to customer (D2C) brands, funded by private equity, rock the IPL sponsorship scene now displacing the traditional brands which have been the usual sponsors of the league till a few years ago.
Official broadcaster Star Sports has roped in 14 sponsors in the ongoing season. Eight of them are tech and D2C start-ups: Dream11, Tata Neu, Byju’s, CRED, PhonePe, Spotify, Swiggy Instamart and Meesho. Similarly, Disney+Hotstar has taken on 18 sponsors with 12 of them being start-ups: Dream11, CRED Tata Neu, Zepto, Spinny, Pristyn Care, Swiggy, RuPay, Ather, Livspace, NiyoX, Spotify.
While Cadbury, Samsung, Asian Paints, and Kamla Pasand brands are still there, over 20 sponsors out of 32 ( 62.5 per cent) are new-age companies operating in the digital domain. Most of them are unicorns, some like Byju’s are decacorns as well, thanks to the multiple rounds of fundings from national and international investors.
Perhaps the BCCI must be thankful to private equities (PEs) for its success. After all, it's PEs which infuse millions of dollars in the technology and D2C brands enabling them to spend a hefty amount on one tournament which traditional brands can’t even think of.
Why are legacy brands staying out?
In all, more than 60 start-ups have come on board this year as on-ground partners, streaming partners and team sponsors. Not only media partners, even team and on-ground sponsors are mostly tech, edtech, fintech, e-commerce and gaming brands, shrinking the portfolio of traditional brands further.
Shashank Srivastava, Executive Director at Maruti Suzuki India, reasons that the high cost of IPL sponsorship acts as a deterrent for traditional brands.
Srivastava says, “IPL is a great platform to build awareness and reach for a brand in a very short time. For established brands, the top of funnel reach and frequency building is important but they also focus on the middle and bottom funnel scores for consideration and conversion. So the high cost of solely getting the reach is a deterrent for established brands.”
“For the less known brands, this is worth the cost for rapid building of awareness. Hence we see a plethora of new brands coming on the IPL platform even at a very high cost,” he says.
Brands have to shell out Rs 40-60 crores to partner with the TV and digital broadcasters of IPL, industry insiders say.
Sandeep Goyal, Managing Director, Rediffusion, says, “IPL is no longer meant for old established ‘legacy’ brands. The tournament is becoming more and more a game of digital smarties. It has become a playground for soonicorns and unicorns wanting to build instant recognition and recall,” Goyal says.
Josy Paul, BBDO India chairman and Chief Creative Officer, agrees with Goyal.
“IPL helps new-age brands build familiarity and quick recognition with a large section of society. Traditional brands are already well-known. They are not seeking awareness but keen to build preference and consideration. This may require a different kind of media mix and environment. Which is probably why a large number of IPL sponsors are tech start-ups or D2C brands,” Paul opines.
“IPL’s massive popularity among young audiences suits the profile of new-age companies which seek quick customer acquisition and prompt them for online transactions. Since they have huge VC funds to spend on advertising, IPL comes as a first choice,” says Rahul Vengalil, Managing Partner of Isobar, a dentsu group company.
Vengalil adds, “Tech and D2C brands with additional cash flow sponsor only IPL, skipping other major advertising platforms. In contrast, traditional brands prefer to split their ad spend on different platforms based on cost benefit analysis.”
In 2021, venture capital & private equity deals along with IPOs were responsible for infusing recording-breaking capital into Indian organizations. Most of this amount is in consumer brands from the fintech, e-commerce & edtech sectors.
“Such brands are bound to spend the additional cash flow on their user acquisition, as the speed of user acquisition defines their valuations. Their ad spending far exceeds their unit margins and this is the norm among the funded tech consumer start-ups,” says Siddharth Devnani, Co-Founder & Director of SoCheers.
The tournament's pan-Indian urban and affluent audience helps these brands gain awareness and conversions. This has worked to the BCCI’s and IPLs advantage, Lloyd Mathias, Investor and Strategist, opines.
Sharing the insight into IPL ad volumes, Goyal says, “Ecomm gaming, ecomm education and pan masala cornered 40 per cent of ad volumes in IPL 15. This time around, ecomm online shopping and ecomm wallets make up the rest of the top 5.”
What surprises me is that even mobile phones have been relegated to outside of the Top 5. The paan masalas by any other name are still there, but the aerated drinks brands have been edged out. Securities/share broking, ISPs, tyres, DTH brands and hair dyes are completely absent in IPL 15 despite being on air in IPL 14, he said.
This year 10 startups with unicorn status are participating in the IPL. The total valuation of these unicorns stands at $43.6 Bn, says Shradha Agarwal, CEO and Co-Founder of Grapes.
Agarwal adds, “Interestingly, this year, each IPL team has at least two start-ups as their sponsors, while CSK has three start-up partners. Another point is that start-ups are batting aggressively on their marketing strategy with back-to-back campaigns that spark the interest amongst the people.”
It is likely that this trend is here to stay, provided the tailwinds in the form of capital with the mandate of user acquisitions continue to flow in for them. They are less advertising budget-oriented and more opportunistic in finding sponsorship opportunities for implementing this mandate, says Devnani.
Startups’ ad blitzkrieg
Relying heavily on TV and Digital, Startups have pipped traditional brands in ad spending too. Over 15 new-age companies including Dream 11, BYJU’s, Swiggy, Netflix and PhonePe are now counted among India’s top 50 advertisers, as per the Pitch Madison Annual Report 2022.
Most of their spending is focussed on IPL and Cricket World Cup only.
“D2C unicorns’ AdEx is often much higher than their total revenue. Traditional brands spend 10-15% of their revenue on ad campaigns while D2C unicorns spend 40-50%”, adds Vengalil.
These unicorns might reduce their AdEx in the next few years when they will be questioned by investors about their expenditure and profitability. New unicorns will join the IPL bandwagon then, notes Vengalil.
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IPL 2023: Disney Star signs 13 sponsors
Dream11, Asian Paints, Charged by Thums Up, Airtel, Cadbury Dairy Milk, Mountain Dew, Parle Biscuits, Kamala Pasand, Rupay, Britannia, Tata Neu, Jindal Panther and LIC come on board
By exchange4media Staff | Mar 30, 2023 6:37 PM | 1 min read
With just one day to go before the start of the highly anticipated Indian Premiere League, official broadcaster Disney Star has stuck ad deals with as many as 13 brands.
Dream11, Asian Paints, Charged by Thums Up, Airtel, Cadbury Dairy Milk, Mountain Dew, Parle Biscuits, Kamala Pasand, Rupay, Britannia, Tata Neu, Jindal Panther and LIC, according to the network.
exchange4media on Tuesday reported that Disney Star is believed to have closed ad sale deals worth Rs 2500 crore, and sources claim deals worth another Rs 500 crore are under discussion.
To increase its reach, Disney Star has announced that it will telecast 12 IPL matches on its free-to-air channel Star Utsav Movies for the first time since the network bought TV rights for the tournament. The move is expected to give a big boost to Disney Star's viewership in the rural market.
Disney Star India has retained the TV rights of IPL for Rs 23,575 crore.
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Tiago.ev named Official Partner for this year’s Tata Indian Premier League
Tata Motors continues its association for the sixth consecutive year
By exchange4media Staff | Mar 30, 2023 5:39 PM | 4 min read
Tata Motors has announced the Tiago.ev as the Official Partner for this year’s edition of the Tata Indian Premier League. Continuing this association for the sixth consecutive year with the Board of Control for Cricket in India (BCCI), the Company will leverage this prestigious platform to increase awareness of EVs, while showcasing and driving engagement for its recently launched premium electric hatch – the Tiago.ev. The Tata IPL 2023 is scheduled to begin on March 31st, 2023.
Commenting on this partnership, Vivek Srivatsa, Head, Marketing, Sales and Service Strategy, Tata Passenger Electric Mobility Ltd. said, “After 5 consecutive successful runs, we are back with the Tata IPL showcasing our newest EV offering, our premium electric hatch – the Tiago.ev. With this exciting new product, we want to democratize EVs in India. In addition to some exciting engagement activities, we are looking forward to educating the masses on EVs at large and bust common myths through an integrated ad campaign. This association with India’s biggest media property will help us highlight the importance of EVs, not only in urban India, but in smaller towns as well. We wish to drive tremendous value from this partnership and fast forward the ongoing revolution towards the future of mobility by encouraging rapid adoption of EVs in India.”
As the Official Partner, the brand will effectively utilize the Tata IPL platform to not just display the new Tiago.ev across all the 12 stadiums, but also connect with the entire nation through a host of engaging activities. One such interesting initiative is the ‘100 reasons to go.ev with Tiago.ev’ campaign. Conceptualised by FCB Ulka, this campaign focuses on consumers’ top mental barriers towards EV adoption and addresses those through a series of light-hearted, slice of life, relatable instances. It aims to bust common EV myths and position the Tiago.ev as a simple, easy switch to a far superior choice of mobility. This campaign will be further amplified on digital and social media as well as across multiple housing societies, fan parks events and point of sale activations during the course of the league.
This year’s matches will also play host to the exciting Tiago.ev Electric Striker Award – where the player with highest strike rate of the match will take home the coveted trophy along with a cash prize of INR 1,00,000. Furthermore, the Tiago.ev Electric Striker of the Season will get a chance to drive home a brand new Tata Tiago.ev. Additionally, each time the ball hits the Tiago.ev car on display, Tata Motors will donate INR 5,00,000 towards enhancing the biodiversity of Coffee Plantations in Karnataka by planting saplings.
Rewarding the early adopters of EVs for their continued trust in the brand, Tata Motors will gratify Tata EV owners by offering tickets to select matches. Tata EV owners will also get to be a part of some exciting engagement activities on-ground and few lucky owners will win a once-in-a-lifetime opportunity of presenting an award to some of the world’s finest cricketers.
Commenting on the campaign, Kulvinder Ahluwalia, Chief Executive Officer, FCB Ulka added – “Tata Motors is pioneering the EV category in India. As the industry leader it is incumbent on Tata Motors to create and build the category. At FCB Ulka we did a multi city research to understand the mindset, barriers and triggers among prospective buyers and used that as a base to detail out the 100 reasons why consumers should choose the Tiago.ev. Created as crisp snacky advertising with a new-age visual look and appeal, it is designed as a fully integrated multi-media campaign that is being rolled out at the Tata IPL, this year.”
Tata Motors has engaged with the Indian Premier League since 2018.
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Fino Payments Bank renews partnership with Rajasthan Royals as digital banking partner
The newly launched FinoPay digital savings account is expected to get more traction through this engagement
By exchange4media Staff | Mar 30, 2023 3:04 PM | 3 min read
Fino Payments Bank has renewed its association with Rajasthan Royals (RR) for the season 16 of IPL. Fino Bank will be RR’s official Digital Banking Partner.
The bank made its maiden foray with the mega sporting event last season by partnering with RR as the Digital Payments Partner. The newly launched FinoPay digital savings account is expected to get more traction through this engagement.
As the Digital Banking Partner, along with the core messages of convenience, accessibility, proximity and trust, the Bank would be looking to drive brand visibility and increase FinoPay app downloads. The app helps open digital savings account, an everyday banking account for routing small, daily spends. Har Din Fino, as the Bank says.
Rishi Gupta, MD & CEO, Fino Payments Bank said, “Partnerships are critical for our success. Our tie up with Rajasthan Royals last season was an innovative first for us that allowed our brand to engage with cricket lovers across the country. We value this relationship and are excited to renew our association that helps take our engagement with the team’s fan base to the next level. It will be a win win proposition as we continue connecting with new customer segments and create avenues for cricket fans to explore Fino’s digital banking and savings account offerings.”
“We are delighted to be renewing our association with Fino Payments Bank for the upcoming season. We were extremely pleased with the positive impact we had on the successful expansion of their financial services across the country, especially the far-reaching areas, given the ever-growing need for digital transformation. We are looking forward to accelerating their overall growth in Rajasthan and other parts of India, said Jake Lush McCrum, Chief Executive Officer, Rajasthan Royals.
Anand Bhatia, Chief Marketing Officer, Fino Payments Bank said, “There are synergies in our brand values. Both the brands are a lot about consistency, competency, sincerity and being very down to earth. And importantly always take a long term view of things. Season 16 of the league is a great platform to promote our digital banking proposition, FinoPay. The excitement of engaging with a younger tech savvy audience and sense of pride in the association all works well for both. With RR establishing a base in Guwahati, North East is another common point as it is a growth market for both brands.”
Adarsh Reddy, CEO, Sportytrip, who has been working with Fino Bank and RR said, “This season Fino Bank is not only engaging with RR on the premier stage but is powering grass root level talent hunt through “Cricket Ka Ticket”. This initiative is aimed at finding India's next cricketing super star across both men and women talent.”
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RCB announces exclusive partnership with Viacom18
The digital-first association will offer fans exclusive access to engaging content
By exchange4media Staff | Mar 30, 2023 11:36 AM | 2 min read
Royal Challengers Bangalore today announced an exclusive partnership with Viacom18, the digital rights holder of the TATA IPL and global rights holder of the TATA WPL. The digital-first association will offer fans exclusive access to engaging content across franchise’s Men’s and Women’s T20 campaigns on JioCinema.
For the first time ever, JioCinema users will have access to a wide variety of exciting content, including exclusive interviews with the marquee players including Virat Kohli, Faf Du Plessis, Dinesh Karthik, Smriti Mandhana, Ellyse Perry, training sessions, team bonding sessions, lifestyle content through RCB’s originals RCB Bold Diaries, RCB Game Day, RCB Insider, and RCB 12th Man. Viacom18 will leverage the power of digital and offer compelling narratives from the Royal Challengers Bangalore stables to a broader audience across devices.
In their continued endeavour to build an all-encompassing sports and lifestyle brand, RCB has expanded their fan engagement gamut beyond the field, including a subscription-based fitness on-demand product, an exclusive range of mocktail pre-mixes, and plant-based meat, among others. On digital platforms, RCB has been among the top-10 sports teams in the world in terms of social media engagement and popularity on YouTube.
Rajesh Menon, Head & Vice President of Royal Challengers Bangalore, said, “At RCB, we value the power of digital and take great pride in being India’s most popular and most engaged sports team on digital platforms. Our continued belief in digital and Viacom18’s unprecedented offerings through JioCinema form a synergy that will transform the landscape of sports viewing and elevate the way we interact with fans.”
“We aim to be a one-stop shop for cricket fans by giving them a whole new perspective for all things TATA IPL through our digital proposition on JioCinema,” said Viacom18 Head of Strategy and Partnerships Hursh Shrivastava. “Royal Challengers Bangalore are one of the top-most digitally engaged cricket teams in the world and this partnership will strengthen their position further by taking their content to a wider audience through JioCinema.”
At the start of 2023, Viacom18 unveiled a slew of original content featuring T20 icons Suresh Raina, Chris Gayle, Anil Kumble, Robin Uthappa, RP Singh, Parthiv Patel, Pragyan Ojha, and Aakash Chopra. The shows are an eclectic mix of free-wheeling discussions, interviews and features that give fans the most insightful, never-seen-before, and in-depth story-telling available on JioCinema.
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KEI Industries announces strategic association with RCB
The wires and cable manufacturer has been onboarded as the Principal Partner for the Indian Premier League (IPL) for three years
By exchange4media Staff | Mar 30, 2023 10:39 AM | 3 min read
KEI Industries Ltd. announced its strategic association with Royal Challengers Bangalore as its Principal Partner for the Indian Premier League (IPL) for three years. The association will help KEI Industries strengthen its growing brand and business presence nationally. The sixteenth edition of the Indian Premier League is set to begin from 31st March 2023 at Narendra Modi Stadium, Ahmedabad.
Aligned to the association, the players and official members of Royal Challengers Bangalore franchise will be sporting the KEI logo on the back of their official match jersey. The logo will also be prominently visible during the on-ground matches of the franchise. The brand will have the right to use player images and team logo for internal use and promotional purposes. The association will also be amplified across, print, outdoor, television, digital and social media platforms which will run through entire duration of the tournament.
Speaking on the association, Mr Anil Gupta, Chairman -Cum- Managing Director, KEI Industries Ltd. said, “We are delighted to announce our partnership with Royal Challengers Bangalore, which is one of the most popular and strongest IPL brands. KEI is one of the leading wires & cables player serving customers across 60 counties globally and we see a great synergy between both the brands. The players of international stature and their consistent bold performance gives a synergy with the product features of brand KEI. India is a cricket frenzy nation and with this partnership, we aim to leverage IPL to build and strengthen our brand awareness and connect with our target audience across the globe.”
Speaking on the association, Mr. Manoj Kakkar, Executive Director (Sales & Marketing), KEI Industries Ltd. said, “KEI has been actively involved in promoting regional sports, cricket and their association with IPL goes back to 2016. India is a cricket frenzy nation and with this partnership, we aim to leverage IPL to build and strengthen our brand awareness and connect with our target audience across the globe. This partnership with Royal Challengers Bangalore will help brand KEI to instantly connect with the millions of viewers watching the event across India and abroad. The brand has also planned a series of fan engagement activities and meet & greet sessions for key channel partners with players during the tournament.”
Sharing his thoughts on the association, Mr Akshit Diviaj Gupta, Director, KEI Industries Ltd. said, “I am delighted to announce our partnership with Royal Challengers Bangalore. We are committed towards encouraging and elevating the realm of sports in India. The lovability and fan following of RCB will help to increase KEI brand recognition across the nation. This engagement will further strengthen our relationship with the customers, and we are positive about exploring more opportunities to expand our business.”
Speaking on the occasion, Rajesh Menon, Head & Vice President of Royal Challengers Bangalore, said, “We are pleased to partner with a well-established robust company like KEI Wires & cables. This partnership will offer the brand a pathway to the massive engaged RCB fan base, and we are confident that we can transmit huge value to KEI Wires & cables.”
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Why are Middle East companies flocking to IPL?
As Saudi Aramco and Saudi Tourism Authority partnered with BCCI, Qatar Airways joined hands with RCB to expand their footprint in the world’s second largest market
By Kanchan Srivastava | Mar 30, 2023 9:08 AM | 5 min read
As the Indian Premier League (IPL) gets bigger in scale and viewership, marketing partnerships with the tournament are fetching greater visibility and returns for brands across the world.
On Sunday, Qatar Airways became the main principal partner of Royal Challengers Bangalore (RCB), the Diageo-owned Bengaluru franchise of IPL, replacing Muthoot Fincorp which sponsored RCB for three years. The deal is estimated to be worth ₹75 crore for three years, which is said to be the second-largest deal in the history of IPL sponsorships. Qatar Airways also recently signed actor Deepika Padukone as its brand ambassador.
Qatar Airways is the state-owned airline of Qatar, one of the smallest countries in Middle East Asia with an estimated population of less than 30 lakh. It reported a record net profit of USD 1.54 billion during FY22 with an overall revenue increase of USD 14.4 billion, up 78 per cent compared to last year.
Interestingly, in February only, the Saudi Tourism Authority (STA) replaced Unacademy as an official partner of the BCCI for IPL. The sponsorship is estimated at Rs 60 crore per season.
STA was the second institution from Saudi Arabia to be associated with India's most sought-after property. Saudi Aramco, the world's largest oil company and B2B player, came aboard in 2022 by sponsoring IPL's Orange Cap and Purple Cap titles. This sponsorship is also estimated at Rs 60 crore per season.
Cricket is the world’s second most popular sport after soccer, with an estimated 2.5bn fans globally. IPL alone amasses more than 500 million viewers in the season, according to BARC data. Hence, it has been attracting a large number of international brands, who wish to tap the world’s second largest consumer market in a flat six weeks through the high decibel tournament. Moreover, the Middle East, which was never a hotbed of cricket, is emerging as a cricket-loving region, thanks to a range of reasons such as huge numbers of Indian expats in gulf countries and IPL shifting to UAE during the pandemic, says experts.
Sam Balsara, Founder, Chairman and Managing Director of Madison World, says, “India is the one bright spot in a dull gloomy world. So everybody wants to pitch their tent in India and those who already have want a bigger tent.”
Llyod Mathias, angel investor and brand strategist, echoes the sentiments, “Saudi Tourism and Qatar Airways seek to woo Indian tourists and Indian expats across gulf countries through their most popular game, at a time when the Indian economy continues to grow amidst a global slowdown.”
Why B2B brand Aramco?
While the association of Qatar Airways and STA with IPL is understandable, people wonder what a B2B brand like Aramco is doing at IPL.
Dr Sandeep Goyal, MD of Rediffusion Group, explains, “Building up recognition and recall in the world’s most populous nation, with the youngest consumer base is a necessity for all global brands today. It doesn’t matter therefore that you are B2B or B2C. Every brand has multiple dimensions: financial brand, employer brand, ESG brand - hence visibility in India helps.”
Experts also point out that Aramco is looking to expand its footprint in India. Earlier, it sought to have a deal with Reliance Industries but that did not go through. It also seeks to establish a refinery project in Ratnagiri (Maharashtra) which is delayed due to protests by locals and legal hurdles in acquisition of land.
In the long term, the company might be looking at B2C business as well by setting up petrol pumps, Mathias speculates.
The company website highlights its vision, “India has tremendous potential in terms of start-ups, technologies and investment opportunities in oil and gas, and Aramco India’s Business Origination is keen to partner with and deepen the already existing ties between Saudi Aramco and its Indian customers.”
Advertising veteran Ramesh Narayan opines, “Saudi Aramco is flush with funds and its major shareholder is the Saudi government. Saudi Arabia is now actively positioning itself as a friendly tourist destination and is taking steps to overcome its erstwhile orthodox religious image. Their pavilion at the Dubai Expo last year was a sign of things to come.”
“In such a scenario, sports is a wonderful avenue to gain a positive image. Of course they need to tread cautiously judging from the sharp reaction Shell got, after its sponsorship of British Cycling. People called it an outrageous attempt at green washing,” Narayan pointed out.
Narayan further noted that Qatar airways and RCB association seems more logical. “The air traffic emanating out of India is massive. The IPL has a huge following in the Middle East. Also Indians have discovered the joys of travel. And with Qatar a short jump across the Arabian Sea, they would have realized they have lost precious time and dollars to neighbouring Dubai in terms of tourism. I see more investment from the Middle East countries in India.”
Qatar Airways is clear about its strategy. Group’s Chief Executive, Akbar Al Baker, said, “Cricket is a global game with a world-wide audience and is a powerful means of uniting people of different backgrounds.”
Alhasan Aldabbagh, APAC President at Saudi Tourism Authority, too sees IPL as a great property to expand their reach among aspirational India. “India represents immense potential as it is expected to be Saudi’s largest tourism source market by 2030,” he had said in February.
Interestingly, UAE has recently launched its own six-team franchise-style league. Five of the six franchises are Indian- owned. We could see many more brand partnerships between gulf countries and India.
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UBON becomes Official Headgear & Audio Sponsor for Rajasthan Royals for IPL 2023
Rajasthan Royals team will wear UBON's logo on their helmet and cap throughout the tournament
By exchange4media Staff | Mar 29, 2023 6:32 PM | 2 min read
UBON, a gadget accessory & consumer electronics brand, has announced its sponsorship of the Rajasthan Royals for the upcoming season of India’s premier T20 competition. The team, which is captained by Sanju Samson, will wear UBON's logo on their Helmet and cap throughout the tournament.
The upcoming T20 competition is one of the most-watched cricket tournaments globally, and this partnership will help UBON to reach a broader audience and showcase its products to a vast and diverse consumer base, the company said.
Lalit Arora, Co- Founder, and Spokesperson of UBON, said, "We are delighted to be associated with the Rajasthan Royals, one of the most iconic teams in the competition and to multi-fold the energy and excitement in the arena. This partnership reflects our commitment to bringing high-quality products and experiences to consumers across India. We believe that this tournament is the perfect platform to showcase our brand, and we are excited to support the Rajasthan Royals as they take on the best teams in the league."
Alok Chitre, Chief Business Officer, Rajasthan Royals said, “We are excited to associate with UBON, which is a marquee audio brand in the country. UBON’s brand values are driven by innovation and enthusiasm, which we aim to fully support with. I am confident that through this partnership the brand will be able to scale heights and reach out to potential consumers around the country.”
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