The joint venture between the Future Group and the Manipal Group, which was set up recently, has entered an agreement with Sachin Tendulkar under which Sachin would also be a stakeholder in the JV.
The JV intends to launch a variety of products in the health supplement, sports goods, fitness equipment and lifestyle accessories categories and would be marketed under the brand names S Drive and Sach. They would be retailed across the multiple Future Group formats like Big Bazaar, Central, Planet Sports, Manipal Cure & Care.
Speaking on the occasion of the signing, Sachin said, “Being a brand ambassador and endorsing a product is different; in this association I have given my name as these products will reflect my values. Future group and Manipal Group have an impeccable reputation and these are reflected in the way they do business. Moreover we share common core values of being a proud Indian”.
Mr. Kishore Biyani, CEO of Future Group added, “India is the most under branded country in the world; of the total retail business only 8% is contributed by brands. Through this association with Sachin we believe these brands will gain mass acceptance. The brands that we will launch with Sachin are a result of lot of research and consumer insights. This is the first time that the Future Group is working with a sportsman; and it’s a great feeling because we share a lot of core values, including our Indianness.
The range of products is expected to be launched in the market in the next couple of months, in time for the World Cup.
Speaking on the occasion of this venture; Dr Ranjan Pai, Vice Chairman of the Manipal Group said that “ Manipal Group wanted to get into healthcare retailing and we got good partners in both Sachin – who is India’s best sportsman and Future Group- India’s largest retailer. Also Manipal Group values integrity; believes in executing with passion and dealing with people in human way. Both Sachin and Future Group share our values; so for us this venture was a perfect partnership.”
