Master Blaster Sachin Tendulkar will soon launch a new sports athleisure brand with former Swiggy Instamart head Karthik Gurumurthy, as per media reports. Former Swiggy executive Karan Arora will join as the third co-founder. Tendulkar is also part of a joint venture for menswear brand True Blue with Arvind Fashions
Incubated by Whiteboard Capital, the venture aims to compete with top brands through affordable, locally-manufactured products. Tendulkar is actively involved in the development of the products, which will include cricket and badminton gear.
According to the report, a holding company has already been registered for the venture. Early-stage venture fund Whiteboard Capital incubated the startup along with Tendulkar. Filings show Tendulkar and Whiteboard Capital are currently on the board of directors of the holding firm named SRT10 Athleisure Pvt Ltd.
The startup is at an advanced stage to raise capital from a top venture capital fund. Tendulkar is the ambassador for True Blue, he also endorses brands including Spinny, Boost, and BMW.
The brand is likely to compete with existing brands in India such as PUMA, Agilitas, Nike, Adidas, etc. Tendulkar’s new venture adds to the growing trends of local as well as global celebrities setting up ventures, some of which have even been sold for $1 billion or more.