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A dash of purple and gold, the colours of Kolkata Knight Riders (KKR), is likely to greet you not just on the cricket field but on the soccer or hockey grounds soon.
Backed by its improved performance in the cricket field, the Shah Rukh Khan-owned IPL franchise is looking for acquisitions in soccer, car racing or hockey both within the country or overseas. KKR broke even in 2011-12.
“We are keen on acquisitions in other sports,” Mr Venky Mysore, company CEO and MD, told Business Line . Acquisitions will be through the parent company, Knight Riders Sports Pvt. Ltd.
The franchise has already held discussions with a few target sports entities. But these are yet to materialise.
According to Mr Mysore, spreading wings in other games will ensure a year-long visibility for the brand-KKR and help in increasing merchandising revenue.
Typically, the T-20 cricket season in India lasts for about three months that include the IPL and the Champions League.
While most of the IPL teams have entered into a merchandising pact with retailers, it still accounts for a mere 5 per cent of the franchises revenues. Across other sports such as football, especially the English Premiere League, merchandising accounts for nearly 70 per cent of a club's revenue.
“IPL has already proven the success of franchise-run sports format. And through KKR we have built a reputable brand which can be used across other sports,” he said. KKR, currently, has 22 sponsorship tie-ups, the largest amongst all IPL franchises.
Rebranding
Mr Mysore indicated that the franchise would like to leverage KKR as the mother brand. “Ideally, there should be a common sponsor and jersey colours across all the franchises (in other sports). This will help in the brand connect,” he said.
KKR had gone for a rebranding exercise at the start of IPL-V. This included a new logo and a new tagline for the team. The new-look has been done to facilitate social media marketing and merchandising.
“The rebranding has been done keeping in mind the idea of a mother brand,” Mr Mysore said.
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