Baba Ramdev’s Patanjali Ayurved brand is considering to bid for the title sponsorship of the IPL 2020 said an official working with Patanjali.
The title sponsorship of the upcoming IPL season is available for biding after the Chinese Smartphone company VIVO decided to leave the title sponsorship. This move will help the Haridwar-based firm access a global marketing platform as Patanjali is now considering to focus on exports for its Ayurveda based FMCG products.
Confirming the news, Patanjali’s spokesperson S K Tijarawala told media, “We are considering this”.
“This is for Vocal for Local and making one Indian brand as global, this is the right platform. We are considering into that perspective,” he said.
However Tijarawala also said that the company is yet to take a final decision about the issue. “We have to take a final decision, whether we would take it or not,” Tijarawala added. He also said that the BCCI is coming with expression of interest on Monday & it still has to submit its proposal by August 14.
Amid the growing tensions between India & China due to the Sino-India Border stand-off, the masses have been demanding to boycott Chinese products & in the wake of criticism received the BCCI & VIVO decided to suspend their partnership for the 2020 IPL which is beginning from September 19 in the UAE.
The title sponsorship is a significant part of the IPL’s revenue whose half share is equally shared by the franchises.
The Patanjali group has an estimated turnover of around Rs 10,500 crores. It had acquired debt-ridden Ruchi Soya in a corporate insolvency resolution process for around Rs 4,350 crore after competing with Adani Group.
Let’s see whether Patanjali would be able to acquire this epic partnership & win the Title sponsorship of the IPL 2020.