Sachin Tendulkar-backed fashion and memorabilia portal Universal Sportsbiz is looking to raise up to 20 million US dollar (around Rs 130 crore) as it gears up to open 100 exclusive outlets for its flagship brand ‘Wrogn’ in three years.
“We are looking to raise around 15-20 million US dollar from new investors,” Universal Sportsbiz Pvt Ltd (USPL) co-founder Anjana Reddy told newsmen after the opening of the company’s first exclusive brand outlet (EBO) of ‘Wrogn’ in Hyderabad recently.
USPL, which started in 2012 has already raised 11 million US dollar so far. Tendulkar has a minority stake in the company.
The company has embarked on a retail network expansion of the ‘Wrogn’ label. The brand is co-owned by cricketer Virat Kohli.
“We plan to open five company EBOs this year. The overall plan is to have 100 EBOs in the next three years through the franchise route,” Reddy said.
But Universal Sportsbiz is not focussed only on opening exclusive outlets. The company is increasing the presence of ‘Wrogn’ brand through Shoppers Stop. Currently the ‘Wrogn’ brand is available in 45 Shoppers Stop stores, Reddy said.
