MS Dhoni invests in interior design solutions company
HomeLane, a home interiors company has announced that it has entered a strategic partnership with former Indian cricket team captain, Mahindra Singh Dhoni. The partnership has been set for the next three years. Dhoni will partner with the brand as an equity partner as well as brand ambassador.
The company has announced that Dhoni will will own equity in HomeLane and will be its first brand ambassador. However, details of Dhoni’s investment were not disclosed.
“As HomeLane expands into new markets and deepens its presence in its existing 16 cities, its strategic association with MS Dhoni will enable the company to create high decibel visibility and connect with its consumers,” the statement said.
According to the statement, HomeLane plans to expand to 25 new tier II and III cities over the next two years, and has earmarked ₹100 crore in marketing spends to support this aggressive expansion.
The company is working with MS Dhoni in order to build a new campaign which it claims will be released around the IPL season.
“We are excited to partner with MSD. He is not just a sporting legend but also one of the most respected and recognised personalities in India. With the trust and credibility that he brings to the table, we believe that he is the perfect fit for our brand vision,” HomeLane co-founder Srikanth Iyer said.
HomeLane co-founder Tanuj Choudhry claimed that HomeLane was built for users to get access to easy and transparent home interiors anywhere in the country and this strategic partnership is a leap toward that goal.
“I believe that HomeLane can help homeowners make their dream home a reality. HomeLane’s vision of making interiors easy and accessible for people across the country is what made me want to be a part of it. With the technology and the expertise that HomeLane brings I look forward to our association in making this vision a reality,” Dhoni said.
Established in 2014, HomeLane had recorded ₹230.4 crore operating revenues for the year ended March 31, 2020, registering a growth of 130 per cent over its revenues of ₹99.95 crore during the previous fiscal. It is currently operational in 16 cities including Bengaluru, Chennai, Hyderabad, Mumbai, NCR, Kolkata, Pune, Coimbatore, Vizag and Mysore.