Universal Sportsbiz, a celebrity fashion company backed by Sachin Tendulkar has raised Rs. 8 crore from InnoVen Capital, a subsidiary of Temasek.
“Universal Sportsbiz Pvt (USPL) is expected to use the debt for the planned brand-building efforts and multimedia campaign as the company pursues its aggressive growth plans,” the company said in a statement.
With a fresh round of funding under its wing, USPL has so far raised a whopping Rs. 61 crore through a mixture of equity, infusion and debt in this year alone – yet another example of the large amount of capital flowing into the start-up industry.
“With the successful rounds of fund raising, Universal Sportsbiz can speedily execute its aggressive plans of building the brand platforms. We will be focused on unlocking the true potential of celebrity lines business by building enhanced awareness and providing access and availability,” USPL Founder Anjana Reddy said.
USPL was founded in 2012 and is the only Indian company with a significant presence in the multi-billion dollar celebrity fashion lines industry. Tendulkar holds a considerable amount of stakes in the fashion and sports Memorabilia Company. The company has many leading brands in its portfolio like Wrogn, Imara and Collectabillia.
“Universal Sportsbiz has firmly established its position in the celebrity fashion brand industry in a calibrated manner driven by the strength of relationships across brand icons and other stakeholders,” Innoven Capital (India) MD Vinod Murali said.
USPL plans to enhance its network presence to over 75 stores from the current 30 for Imara and 70 from 38 for Wrogn. It also plans to introduce Imara Fusion, which would be contemporary designs for work and casual wear.
