Home / Knowledge / News / Apparel/Garments / Dhoni's brand Seven grosses over $2.5 million
Dhoni's brand Seven grosses over $2.5 million
15
Jul '16
Courtesy: Rhiti Sports
Courtesy: Rhiti Sports
Seven, a footwear and apparel brand, partly owned and endorsed by star cricketer MS Dhoni has grossed more than $2.5 million in the first three months of its operations since its inauguration in February.

The company is targeting a turnover of $10 million in the domestic market and $ 3-4 million from international markets by the end of this fiscal, Arun Pandey, Chairman of the Rhiti Group, that partially owns the brand, told the Economic Times.

Pandey is Dhoni's close friend and business partner in this new retail. While, Dhoni owns the footwear side of the brand, 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 both the branches. In the first three months between April and June 2016, the footwear business contributed 56.5% to the turnover while the rest was from apparel and accessories.

"Today's generation has begun to embrace a much more active and health-conscious lifestyle. Seven addresses this value gap in the market," said Dhoni.

Pandey said they would be investing in setting up company-owned retail stores across key metro markets by the year-end. The company is now readying to hit international markets over the next two months.

Commenting on the alleged issue of delayed payments to Dhoni by Australian sports goods manufacturer Spartan Sports, Pandey said they were in talks with the company but could seek legal recourse if the matter was not sorted out.

"We are trying to sort out the issue but if it continues like this, we will have to look at legal options," he said
.
The issue pertains to a three-year sponsorship deal in 2013 under which Dhoni was to sport Spartan's logo on his bat, gloves and pads. For the endorsement, he was to get Rs. 10-12 crore annually uptill 2016. Since 2013, only four installments have been paid to him, and the company has been defaulting time and again, sources requesting anonymity said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Courtesy: IVL

Textiles | On 26th Jul 2017

IVL completes PTA capacity expansion in Europe

Indorama Ventures Public Company Ltd (IVL), a global chemical...

Textiles | On 26th Jul 2017

Vietnam’s textile & garment exports cross $13bn in H1

Vietnam earned $13.... billion from textile and garment exports in...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X