Universal Sportsbiz to break even this fiscal

BENGALURU: Sachin Tendulkar-backed celebrity fashion brand company Universal Sportsbiz has increased revenue while cutting losses and is set to break even this year.

Universal Sportsbiz (USPL) has seen its revenue increase by over 75% in the financial year 2016-17 to Rs 107 crore from Rs 60 crore the year before, while keeping losses under control, as per filings with the Ministry of Corporate Affairs. Losses increased from Rs 22 crore to Rs 27 crore in the same period.

It expects revenue of Rs 160 crore this year, and aims to touch Rs 1,000 crore by 2021. "Our growth has been controlled while reaching economies of scale," Chief executive Anjana Reddy said.

Universal Sportsbiz was able to keep its marketing costs at about 15% of total expenses. Some of the biggest expenses for the company came from stock-in-trade inventory and employee benefits.

USPL, launched in 2012, initially focused on sports memorabilia and expanded to celebrity brands later. The company currently collaborates with cricketer Virat Kohli for the brand Wrogn, actor Shraddha Kapoor for Imara and actor Kriti Sanon for Ms Taken.

The company is also set to have 30 exclusive business outlets by March, apart from the 250 points of sale it has through Shoppers Stop. It also sells online exclusively through Myntra.

Even though Shoppers Stop's brands will now come online on Amazon following a partnership between the two, Reddy said USPL's brands will still be available only on Myntra.

Overall, the company sees 60% of its revenues coming from offline. "Offline is growing fast in tier-II and beyond," she said. Universal Sportsbiz plans to expand globally and strengthen its online presence.