New IPL franchise adds another sponsor

Newly-formed Indian Premier League Twenty20 cricket franchise the Rising Pune Supergiants has agreed a sponsorship deal with Mumbai-based denim company Spykar Lifestyles.

The Hindu BusinessLine website said the deal would cover the 2016 and 2017 seasons and net the Supergiants Rs200m (€2.6m/$3m). Spykar Lifestyles’ branding will appear on the back of the team’s playing jerseys as part of the agreement.

“Spykar as a brand has been quiet all these years and now wants to start a conversation with its consumers,” Spykar Lifestyles’ chief operating officer Sanjay Vakharia told the BusinessLine. “The business is now growing 30-35 per cent and we have been weeding and adding stores. This is the first time we have invested in IPL and the sole positioning on the back jersey of the Pune team is expected to give us the necessary (exposure).”

The Supergiants, which boast Australia captain Steve Smith (pictured) in its ranks, earlier this week agreed a partnership with food producer Cargill Foods India and has also signed sponsorship deals with Oxigen, Finolex, LYF and Gulf Lubricants ahead of its inaugural IPL season.

Raghu Iyer, chief executive of Rising Pune Supergiants, said: “While we have first-time domestic companies such as Spykar coming on board as a sponsor, there has been a trend of greater number of Indian companies using the IPL platform to gain visibility this season. Most of them have been spending twice as much of what they spent in the previous season.”