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 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search