After bowling out several opponents on cricketing turf, Indian cricket ace pacer Zaheer Khan has decided to made an investment in a new brand ‘Sher Singh’ started by online retailer of apparel and fashion accessories Exclusively.in Inc.
The bowler will also be the brand ambassador for the newly launched label that is eying $100 million (about Rs 500 crore) turnover globally in the next two years.
According to CEO and Co-Founder Sanjay Guleria, Exclusively.in Inc through brand Sher Singh is aiming sales of about $100 million in the next two years and for the group overall that includes business from it. We are targeting for $200 million turnover in the next three years.
However, Khan who also own restaurant chain ZKs’ ruled out to share any detail about his investments in the venture. On question of investment Khan preferred to be tight lipped.
The Sher Singh offers lifestyle products for both the sexes including T-shirts, trousers, polos, shirts, dresses, saris and tunics, at present company is targeting 60 percent sales from India and rest would be coming from US and UK market.
To garnish the potential of the youth icons, the firm is looking to have strategic partnerships with celebrities from various genre like sports, music and films for brand promotion, like Khan, added Guleria.
Exclusively.in Inc has offices in New York City and New Delhi and has so far received funding of $20 million from consortium of investors, including Accel Partners, Tiger Global Management and Helion Venture Partners.
The firm has been corroborated by set of investors and advisors including, Google India MD Rajan Anandan, Eros Entertainment Chairman Kishore Lulla and model cum actor Sushma Reddy. When asked if the company is looking for additional funds for expansion, Guleria said: “We are not looking for another funding round for the next two years.”
Source: PTICategory Ecommerce News