Prior to Slice, the biggest sponsorship deal was between Chennai Super Kings (CSK) and TVS Eurogrip, where the tyre manufacturer had committed close to Rs 75 crore over three years.
As part of the deal, Slice’s logo will appear on the front of all Mumbai Indians’ official jerseys.
Making its debut in sports sponsorship with this partnership, Slice will have the opportunity to connect with MI’s passionate cricket fans across the globe.
Slice will also have the right to launch MI co-branded credit cards as part of the deal.
“We wanted to partner with a brand with whom we shared common values.
Innovation, technology, and a fan-centric approach, which are core values for Mumbai Indians as well as Slice. We both share the vision of offering our fans a world-class experience with the drive and enthusiasm to be the best, ” said a Mumbai Indians spokesperson.
Incidentally, Slice is the fifth brand to feature on the front of the Mumbai Indians jersey.
In the past, Idea, Hero, Videocon D2H, and Samsung have been the principal sponsors of the team.
“There is definitely zero correlation between a financial product and a cricket team. However, there are a lot of similarities between two teams who are relentlessly seeking a championship, ” said Rajan Bajaj, founder and CEO, Slice. “Being the most successful team in the IPL with five titles to its name, the Mumbai Indians inspire not only millions of their fans, but also entrepreneurs like me with the team’s passion, focus, and persistent spirit.”
Slice, which has over 7 million registered users, has registered a 40% month-on-month growth. In November 2021 the company entered the Unicorn club after raising $220 million in its Series-B fundraising co-led by Tiger Global and Insight Partners.
The company aims to launch its UPI product in 2022 and further enhance the payments experience of millennials and Gen-Z in India.
It is learnt that the sales team of the Mumbai Indians had reached out close to 100 brands with an invite to discuss a sponsorship proposal. The sales process adopted by the Mumbai Indians was done for the first time in India, deviating from the regular norm of sales decks and calls, the sales team sent to all potential brands a customised jersey with the logo of the company on the front of the jersey along with the pitch deck.
Having an actual, tangible jersey at hand strengthened the impact of the pitch, said one person who received such a jersey, as brands could visualise how they would appear on the jersey.
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