IPL 2021 is less than a month away, so teams have started filling sponsorship slots. Rajasthan Royals (RR) has decided to fill a key sponsorship slot by signing a deal with motorcycle helmet manufacturer Studds.
As per terms of this deal with RR, Studds will have their brand logo featuring on the helmets as well as the caps of Rajasthan Royals. According to LiveMint, the company will also produce exclusive, co-branded limited-edition riding helmets for fans. Already having customers worldwide, the company has gained fame over the years and looks forward to boosting the brand by working with an IPL team. Gaurav Bhola, General manager of sales and marketing at Studds, insisted that this deal will help in fulfilling their aim of providing good quality of products.
“This partnership not just adds a royal touch to our brand but also helps in further strengthening our commitment towards providing the best safety and quality products as well as services in the country.”
Since a recent report suggests a dip in the brand values of teams in the last 12 months, IPL 2021 will be the season for them to negotiate better sponsorship deals. Rajasthan Royals also aspires to trigger this year’s sponsorship revenue upwards, with a target of about 40 percent increment and looking forward to building up relations with a few more companies for their future prospects.
Currently, Rajasthan has over ten partners, with Jio and KEI Wires and Cables being their principal sponsors; Kingfisher, Kotak, Dream11, and BKT as official partners; Colgate, now along with Studds as their associate sponsor. Longer deals will benefit brands, but teams will be looking to get a good injection in the revenue by multiple deals rather than banking on one long-term deal.