New Delhi, Friday, Nov 11, 2011: Indian cricket star Zaheer Khan has become an investor in a new brand ‘Sher Singh’ launched 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 eyeing USD 100 million (about Rs 500 crore) turnover globally in the next two years.
“From the brand Sher Singh we are targetting sales of about USD 100 million in the next two years and for the group overall that includes business from Exclusively.in we are aiming for USD 200 million turnover in the next three years,” Exclusively.in Inc CEO and Co-Founder Sunjay Guleria said.
He, however, declined to share Khan’s investments.
When asked about it, Khan said: “(I own) Enough to be excited about.”
The company today unveiled its first collection under the new label, Cricket by Sher Singh — for men and women and is focusing on markets like India, the US and the UK.
The Sher Singh range of lifestyle products for men and women include T-shirts, trousers, polos, shirts, dresses, saris and tunics.
“About 60 per cent of the expected turnover is likely to come from India and remaining from other global markets,” Guleria said.
Going ahead, the firm is considering strategic partnerships with celebrities in the field of sports, music and films for brand promotion, like Khan.
Exclusively.in Inc has offices in New York City and New Delhi and has so far received funding of USD 20 million from a host of investors, including Accel Partners, Tiger Global Management and Helion Venture Partners.
The company is also supported by a number of investors and advisors including, Google India MD Rajan Anandan, Eros Entertainment Chairman Kishore Lulla and model and actress 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.”
He, however, did not share the company’s current sales.