Universal Sportsbiz gets Rs 46 crores in Series-B funding

Celebrity fashion and memorabilia company Universal Sportsbiz has raised series-B funding of 7.5 million dollars (around Rs 46 crores) from its existing investor Accel Partners. Accel had invested Rs 17.25 crores in the company in July 2012, before which cricketer Sachin Tendulkar had picked up a significant minority stake in it for an undisclosed sum. This new investment values the company, founded by Anjana Reddy at around Rs 225 crores.

With the funding, Universal Sportsbiz aims to expand retail network of two fashion lines under its fold: Wrogn inspired by Virat Kohli and Imara with Shraddha Kapoor. Imara is currently distributed through 30 stores and Wrogn through 28. In the offline space, Imara retails at Shoppers Stop, Central and Ethnicity, Wrogn sells exclusively at Shoppers Stop. Online, Imara is sold at several online marketplaces while Wrogn is exclusively sold on Myntra. Plan is to also open around five exclusive stores of these labels.

Other than Tendulkar and Messi, Collectabillia is associated with sports celebrities such as Vishwanathan Anand, Viv Richards, Harbhajan Singh, Muttiah Muralitharan, Sania Mirza and Saina Nehwal. It is looking to add 10 more celebrities but this time from the entertainment space. Apart from memorabilia, the brand now also sells fashion accessories.