Cricketer MS Dhoni-backed footwear and apparel brand ‘Seven’ has crossed 2.5 million US dollar in turnover in the first three months of its operations, a top company executive said.
Chairman of Rhiti Group Arun Pandey said the company is targeting a turnover of 10 million US dollar in the domestic market and 3 to 4 million US dollar from international markets by the end of this fiscal.
Pandey is Dhoni’s close friend and business partner. In this new retail venture started in February, Dhoni owns the footwear side of the brand Seven, while Pandey’s RS Seven Lifestyle, which is part of the Rhiti group, owns the apparel and accessories business.Dhoni, however, is the brand ambassador for the businesses.
In the first three months between April and June 2016, the footwear business has contributed 56.5 per cent to the turnover while the rest has come from apparel and accessories. Seven is also Dhoni’s official jersey number when he plays for the country. “Today’s generation has begun to embrace a much more active and health-conscious lifestyle. Seven addresses the value gap in the market,” Dhoni said.
Pandey said they will be investing in setting up company-owned retail stores across key metro markets by the end of this year besides investing in innovative designs and technology in their product line-up. The company has set up a network of distributors and retail points on offline as well as online platforms and is now readying to hit international markets over the next two months.