The Sachin Tendulkar-backed celebrity fashion company Universal Sportsbiz has raised Rs 8 crore from InnoVen Capital, a Temasek subsidiary.
“Universal Sportsbiz Pvt (USPL) is expected to use the debt for the planned brand-building efforts and multimedia campaign as the company pursues its aggressive growth plans,” the company said in a statement.
With this fresh round of funding, USPL has raised Rs 61 crore so far in 2015 through a combination of equity infusion and debt.
“With the successful rounds of fund raising, Universal Sportsbiz can speedily execute its aggressive plans of building the brand platforms. We will be focused on unlocking the true potential of celebrity lines business by building enhanced awareness and providing access and availability,” USPL Founder Anjana Reddy said.
Founded in April 2012, USPL is the only home-grown Indian company with a significant presence in the multi-billion dollar celebrity fashion lines business. Tendulkar holds a stake in the fashion and sports memorabilia company.
USPL’s portfolio of leading brands includes premier fashion brand Wrogn, women’s ethnic fashion brand Imara, and sports memorabilia brand Collectabillia.
“Universal Sportsbiz has firmly established its position in the celebrity fashion brand industry in a calibrated manner driven by the strength of relationships across brand icons and other stakeholders,” Innoven Capital (India) MD Vinod Murali said.
USPL plans to enhance its network presence to over 75 stores from the current 30 for Imara and 70 from 38 for Wrogn.
It also plans to introduce Imara Fusion, which would be contemporary designs for work and casual wear.