M S Dhoni eyeing stake in Light Speed Sports

The fitness and sports lifestyle category in India is witnessing

positive growth and even brands are realising the potential of the market. While established sports brands are expanding their offerings to cover the sportslifestyle apparel and accessories segment new brands are making an entry into this fast moving segment. One such brand is FitSoul from Light Speed Sports. It has entered the competitive market sighting opportunity.

Meanwhile, the buzz is that Indian cricket team captain MS Dhoni is eyeing a stake in Light Speed Sports, which plans to retail its range through a multi-brand sports retail chain. Sajid Shamim, former marketing head of Reebok, has partnered with Rhiti Sports that looks after Dhoni's endorsement portfolio and entrepreneur-banker Parvinder Singh to start the new retail venture. Dhoni has already signed the deal as the brand ambassador of FitSoul, which will sell sports apparel, footwear and equipment.

Most of the six outlets up and running among its 350-stores target in five years are based in Sirsa, Haryana, Tonk Road in Rajasthan and Thane in Mumbai and one in Australia. Next locations include: Lucknow, Kanpur, Guntur and Hubli among others. The stores will be set up through the subsidiary Light Speed Retail. The venture has started operations with seed capital investment from the three promoters, however, it is also looking for PE investors to attract the first round of funding.