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The Souled Store to bring official Liverpool FC merchandise to India

Meenakshi Verma Ambwani New Delhi | Updated on February 06, 2021

Plans to ramp up offline store count

The Souled Store, known for selling quirky pop culture merchandise, is set to launch the official merchandise of Liverpool FC in India at a time when football is gaining in popularity in the country. The RP-SG Ventures-backed company is also looking to ramp up offline store count in the next 3-4 years.

The Souled Store has so far been the official merchandiser for movie franchises such as Batman, Superman and Harry Potter besides TV Shows such as Friends and the Big Bang Theory. It is also the official merchandise partner for four Indian Premier League teams besides Pro-Kabbadi League teams.

Harsh Lal, Co-founder of the Souled Store told BusinessLine, “Sports merchandise has been a highly untapped segment in the country as there is a huge demand for quality products at affordable prices from fans. It has also been the fastest-growing category for us. This strategic new partnership to launch the official merchandise of Liverpool FC will help us further solidify our position as the one-stop destination for all fan merchandise with a focus on seamlessly merging fashion with pop culture.”

The Mighty Reds Collection will be available on The Souled Store’s website, mobile application, and stores besides on e-commerce platforms such as Amazon and Myntra. The merchandise range includes T-shirts, shorts, joggers, jackets, sweatshirts and socks. The price range of the merchandise would be between ₹899 to ₹2,000.

The company which is set to touch the ₹100 crore-mark in revenues by the end of FY 21, has ambitious plans to accelerate revenues growth to reach ₹1,000 crore in revenue by FY24.

“Our strategy has been to offer fan merchandise at affordable prices with the promise of good quality. We are looking at other strategic partnerships and collaborations to grow our business rapidly. There are also strategic plans to expand our offline store footprint in the next 3-4 years,” Lal added.

The company, which currently has three exclusive stores plans to open 30-40 new stores in the next 3-4 years. “Our fourth store is expected to open in April. We expect overall 6-7 new stores will get added this year,” he added.

The Souled Store, which began operations in 2013, raised $3 million from RP-SG Ventures, the venture capital fund backed by the RP-Sanjiv Goenka Group in 2018. It is eyeing the second round of funding of about ₹75-100 crore this year.

The company is also looking at introducing more women-centric products and also launch products in the kidswear segment.

Published on February 06, 2021

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