Dhoni's brand Seven has done something that startups are struggling to do these days
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Indian cricket team captain MS Dhoni-backed ‘Seven ’, a footwear and apparel brand, crossed $2.5 million in turnover in just first three months of its operations.
Chairman of Rhiti Group Arun Pandey said the brand is now aiming to touch a turnover of $10 million in the domestic market and around $3-4 million from international markets by the end of this fiscal.
Dhoni owns the footwear side of the brand Seven, whereas Pandey's RS Seven Lifestyle, which is part of the Rhiti group, owns the apparel and accessories business.
ET reported within three months between April and June 2016, the footwear business contributed 56.5 per cent to the turnover while the rest has come from apparel and accessories.
It is noteworthy Seven is also Dhoni's official jersey number.
"Today's generation has begun to embrace a much more active and health-conscious lifestyle. Seven addresses the value gap in the market," said Dhoni.
Meanwhile, Pandey said they will be investing in setting up company-owned retail stores across key metro markets by the end of this year besides investing in innovative designs and technology in their product line-up.
"We have sold our first consignment to a handful of international markets including the Middle East, Africa and few countries in South East Asia. The response has been excellent and we're now gearing up for a formal launch in these markets, including Australia," Pandey told ET.
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Chairman of Rhiti Group Arun Pandey said the brand is now aiming to touch a turnover of $10 million in the domestic market and around $3-4 million from international markets by the end of this fiscal.
Dhoni owns the footwear side of the brand Seven, whereas Pandey's RS Seven Lifestyle, which is part of the Rhiti group, owns the apparel and accessories business.
ET reported within three months between April and June 2016, the footwear business contributed 56.5 per cent to the turnover while the rest has come from apparel and accessories.
It is noteworthy Seven is also Dhoni's official jersey number.
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Meanwhile, Pandey said they will be investing in setting up company-owned retail stores across key metro markets by the end of this year besides investing in innovative designs and technology in their product line-up.
"We have sold our first consignment to a handful of international markets including the Middle East, Africa and few countries in South East Asia. The response has been excellent and we're now gearing up for a formal launch in these markets, including Australia," Pandey told ET.
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