Sachin Tendulkar Backed Universal Sportsbiz Raises Rs 8Cr from InnoVen Capital
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Sachin Tendulkar backed celebrity fashion and memorabilia company, Universal Sportsbiz Pvt. Ltd. (USPL) has raised Rs 8 crore from Temasek Venture’s lending platform InnoVen Capital India. The raised funding will be used to accelerate growth plan and in brand building via multimedia campaigns.
“We will be focused on unlocking the true potential of celebrity lines business by building enhanced awareness and providing access and availability,” said USPL Founder Anjana Reddy. Founded in April 2012, USPL started with its brand Collectabillia, which sold sports memorabilia and fashion accessories, including Tendulkar’s autographed bats and Lionel Messi’s laptop covers. It now also runs two brands – fashion brand Wrogn & women ethnic fashion brand Imara and is planning to expand the distribution network for both from 30 stores to over 75 stores for Imara and from 38 stores to 70 stores for WROGN.
The company also plans to introduce Imara Fusion aimed at work and casual wear. It had secured an initial investment of Rs.17.2 crore by Accel Partners in July 2012. Sachin Tendulkar has a significant minority stake in the company.
Collectabillia has 15-20 celebrities in its portfolio both from the sports and entertainment segments and is planning to add 10 more celebrities from the entertainment space.
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Congress leader Rahul Gandhi on Wednesday accused Prime Minister Narendra Modi of waiving off loans worth Rs 16 trillion of his billionaire friends, and said the country will never forgive him for this "crime".
In a post in Hindi on X, he said this money could have been used to cure the pain of Indians but was spent on creating hype for the ilk of those like 'Adanis'.
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