In an effort to solidify its position as the industry leader in pop culture items, D2C fashion company The Souled Store has announced the purchase of clothing brand Redwolf. The startup did not, however, reveal the deal’s financial details.
The goal of the acquisition is to leverage Redwolf’s knowledge of fan merchandise to improve the startup’s goods and services. Ameya Thakur, Rahul Jaisheel, and Vivek Malhotra founded Redwolf, a clothing company that creates and produces graphic t-shirts and other accessories, in 2011.
The Mumbai-based company claims to have rights for Game of Thrones, Marvel, Disney, Star Wars, Rick & Morty, Peanuts, Breaking Bad, and other properties. Its designs are primarily influenced by popular culture. The founders will now become part of the leadership team of The Souled Store.
Acquisition to Enhance The Souled Store’s Product Offerings
According to a statement from The Souled Store, the acquisition will enable the company to further expand its line of creative products. The next obvious step in achieving Redwolf’s goal of providing the greatest pop culture items to the Indian market, according to Malhotra, was the company’s merger with The Souled Store.
Every one of Redwolf’s three founders is an avid fan of pop culture and is eager to use The Souled Store’s scale to grow the company. Originally founded in 2013 as a branded product apparel brand by Vedang Patel, Rohin Samtaney, Aditya Sharma, and Harsh Lal, The Souled Store later evolved into its present D2C casual wear brand form.
Additionally, it sells items like socks, shoes, trainers and backpacks to clients of all ages. According to Patel, the acquisition will support the company’s goal of becoming India’s “Home of Pop Culture”. The company is eager to work with Redwolf’s founders to develop this common goal.
The Souled Store runs about 40 locations in India and has over 200 licenses, including One Piece, Naruto, and Marvel.
Financial Outlook of The Souled Store
Financially speaking, the firm became profitable in the fiscal year that concluded in March 2024 (FY24) thanks to a robust increase in its top line and improved margins. Compared to a loss of INR 16.5 Cr in FY23, The Souled Store reported a net profit of INR 18.2 Cr in FY24.
From INR 233.5 Cr in FY23 to INR 360.2 Cr, its operating revenue increased 54.26%. Membership fees brought in INR 5.2 Cr, with product sales accounting for the remaining revenue. The development coincides with a decline in merger and acquisition (M&A) activity in the Indian startup ecosystem last year.
Only 71 of these transactions were noted in 2024, according to Inc42’s research. However, as more and more listed businesses flex their cash, it is anticipated that startup M&As might increase by 58% in 2025. The industries with the highest likelihood of M&A activity include fintech, edtech, e-commerce, AI, and consumer services.
Hardik Pandya exists beyond his cricket career. He embodies the essence of spectacle, storm, and personal brand. The intense electrical energy he displays on the cricket field creates ripple effects that extend into other areas of his life. His match-winning aggressive nature, self-assurance, and oversized presence transform him into a magnetic force for brands.
The cricket star Hardik Pandya transforms brands into something new through his influential endorsements, which range from gaming spaces to premium SUVs and sports beverages to modern technology products. However, the question remains which brands possess the courage to match his indomitable spirit? In this article, we will explore the powerful brand partnerships that showcase the magnetic presence of Hardik Pandya.
Hardik Pandya Brand Endorsements
Hardik Pandya established himself as a powerful brand ambassador who secured multiple endorsement deals spanning various sectors, which include cricket and unstoppable brand penetration. His versatile personality attracts brands who want to reach Indian youth because they find his dynamic persona appealing. These are the primary brands that Hardik Pandya promotes:
Hardik joined KRAFTON India in September 2023, which revolutionised his career in a way that matched the essence of the gaming industry. Hardik’s youth-oriented, charismatic personality made him the perfect ambassador for BGMI, which led to his appearance in special in-game content, including voice packs, character skins, and emotes. His competitive spirit brought valuable interaction to the gaming interface, which proved ideal for the active Indian gaming market.
Gatorade – The Hydration Icon
Gatorade – Hardik Pandya Brand Endorsement
Hardik’s high-performance skills make him an excellent candidate for Gatorade to promote its hydration-focused advertising campaigns. Since September 2023, he has led the sports hydration brand’s message about endurance fitness and recovery, which has made him a respected and authoritative figure in the sports hydration industry. The ads displayed the training and recovery practices Hardik utilises during his athletic regimen.
Hyundai – Driving Adventure with EXTER
Hyundai Motor – Hardik Pandya Brand Ambassador List
Hyundai Motor India selected Hardik Pandya as its brand ambassador for the Hyundai EXTER SUV during June 2023. The brand ambassadorship demonstrates Hyundai’s main focus on adventure, style, and reliability, which perfectly matches the brand’s positioning strategy. Hardik appears in national advertising that demonstrates the SUV’s modern design with its various standout features.
POCO – The Power of Performance
POCO – Hardik Pandya Brand Endorsement
Hardik joined forces with POCO as their brand ambassador during January 2023 to market their X-series smartphone lineup. His dynamic persona matches POCO’s brand identity, which focuses on youth energy alongside performance excellence and technological innovation. The company used digital media along with social media platforms to display their flagship device features.
Gulf Oil – Endurance Meets Excellence
Gulf Oil – Hardik Pandya Brand Endorsement
The branding efforts at Gulf Oil since 2018 have included Hardik as a vital contributor who strengthens their brand message, focusing on reliability and high performance. The brand builds consumer trust by combining Hardik Pandya with cricket legend MS Dhoni as its representatives.
Dream11 – Fantasy Cricket, Real Excitement
Dream11 – Hardik Pandya Brand Endorsement
Since 2019, Dream11 has relied on Hardik as their primary brand ambassador to represent their strategic and interactive gaming features. A stellar ‘Sab Khelenge’ advertisement features Bollywood actors together with prominent cricket players. The promotional efforts of Dream11 Fantasy Cricket are designed for sports enthusiasts who participate in fantasy leagues.
boAt – Music & Performance Redefined
boAT – Hardik Pandya Brand Ambassador List
Hardik started representing boAT as its iconic ambassador in January 2018 when the company merged high-tech audio devices with trendy design elements. Through his fashionable style and dynamic charm, he serves as an excellent brand representative for the company’s youth-oriented audience. The brand utilises digital-first marketing strategies to promote its excellent sound quality combined with innovative design features.
RISE Worldwide – Brand Powerhouse Management
Through his partnership with RISE Worldwide, Hardik secures valuable brand alliances that maximise his presence within the endorsement industry. The rapid growth of Hardik’s market influence became even stronger after IPL 2022.
Gillette – Precision & Grooming Excellence
Gillette – Hardik Pandya Brand Endorsement
Through his role as a modern-style icon, Hardik helps Gillette deliver its brand messages about precision and grooming and everyday confidence to consumers. The marketing initiative targets all male consumers who want premium grooming products. Whereas the marketing approach uses product-based storytelling to demonstrate high-quality and exact products.
The Souled Store – Streetwear with Swagger
The Souled Store – Hardik Pandya Brand Endorsement
The Souled Store started featuring Hardik as its brand ambassador in 2022, and he followed up this move with a significant investment in the company. Hardik’s youthful personality matches perfectly with the trendy fashion statements of The Souled Store brand. Hardik uses his personal style to create signature collection designs.
Hardik Pandya exists as both a professional cricketer and a formidable brand leader. His endorsements encompass tech products alongside sports equipment and fashion items, automotive brands, gaming companies, and lifestyle products, proving his broad appeal beyond his cricket career. His ability to deliver energy and passion to every brand he represents has established him as one of the most popular choices among endorsement brands worldwide. Hardik Pandya approaches life with a winning mindset, whether he competes in cricket matches or represents brands.
FAQs
Which major brands does Hardik Pandya endorse?
Hardik Pandya has endorsed brands like Gulf Oil, Dream11, boAt, The Souled Store, Gillette and many more.
What types of products does Hardik Pandya typically endorse?
He endorses a variety of products, including sports-related items, energy drinks, audio devices, and online gaming platforms.
How has Hardik Pandya’s on-field performance impacted his brand value?
His strong performances in cricket, coupled with his charismatic personality, have significantly boosted his brand value, making him a sought-after endorser.
Aditya Sharma, Co-Founder & Director of The Souled Store discusses his entrepreneurial journey, building a D2C apparel brand around pop culture and upcoming trends with host Gautam Srinivasan.
The startup ecosystem of India has grown tremendously in the last decade. India has emerged as a predominant player in the global startup ecosystem and is home to various successful startups and innovative entrepreneurs.
The “Crafting Bharat – A Startup Podcast Series” powered by AWS, and an initiative by NewsReach, in association with VCCircle, unlocks the secrets behind these successful entrepreneurs’ journeys aiming to equip aspiring entrepreneurs and business enthusiasts with invaluable insights. The podcast series is hosted by Gautam Srinivasan, famed for hosting a diverse range of TV and digital programs, currently consulting editor at CNBC (India), CNN-News18, Forbes India, and The Economic Times.
Digital adoption has made shopping online effortless, and a zestful and passionate entrepreneur, Aditya Sharma, Co-Founder & Director of The Souled Store, is putting the ‘pop’ in pop culture. In the Crafting Bharat Podcast Series, Sharma talks about his entrepreneurial journey, building a D2C apparel brand around pop culture and upcoming trends.
Explore the tales of Indian startup founders’ transformation from dreams to reality, navigating challenges to seize opportunities through the Crafting Bharat Podcast Series.
Crafting Bharat, Episode 9 With Aditya Sharma, Co-Founder & Director of The Souled Store
Segment 1: The Incubator
How confident were you of a product-market fit considering India was a very nascent market for such options?
The only way to get official merchandise in India was either to call a relative who is abroad to get it for us or to buy fake merchandise from the street side. We saw the gap and knew that there definitely was a demand because people wanted it. There is a very low barrier to entry to start an apparel brand in India as it requires very less capital.
Dealing with challenges of ecosystem peer pressure and an urge to grow fast. How did you handle this phase?
When we raised our first round of funding, I wouldn’t call it pressure but more like responsibility to use the funding at the right place. We had a lot of cash in the bank, so we decided to increase the marketing spend which in turn increased our revenue. We burned cash in the short term but eventually it helped us in the long term. We did two things with the cash, one we increased the marketing and branding spend and second, we started hiring aggressively. To cut the long story short, we wanted to achieve the growth in 2 years which would have ideally taken us 5 years to achieve. After 2 rounds of funding and making the same mistake of achieving fast we established that the business would take its time to grow, we need to make sure we’re not burning cash, is profitable and at the same time if your product is good then your success is going to be a little delayed but it will come for sure.
What was the reasoning behind going physical considering most of your revenue still comes from the website and mobile app?
We did real-life AB testing with the store. The store was 500 sq ft in size, which was a lot of cost to us back during that time. To our surprise the store worked well. Unfortunately, the pandemic hit, and we had to slow down but we managed to pick up the pace and reached 23 offline stores. There was no pressure from the investors, but we wanted to give the offline channel a shot. The Indian audience loves to shop online but there is a great chunk of the audience who wants to shop offline to get the touch and feel of the products.
Segment 2: The Accelerator
From a cost-benefit perspective for a startup, what are the dos and don’ts of working with influencers and celebrities to drive brand popularity?
I would say that be true to yourself and the brand. What we’ve seen through our journey is that whenever we try to do something for views it never works out. Our brand endorsement with Hardik Pandya aligned with the brand because the type of apparels he wears is like what we sell, and he genuinely loves our products. If we would have done this with someone else from the Indian cricket team whose vibe doesn’t align with our brand, it won’t work as effectively.
As you evolve beyond Superheroes and Sitcoms, what’s the next pop culture phenomenon that you are looking to tap into at The Souled Store?
The next pop culture phenomenon we aim to tap is Anime. We’ve been working heavily to get a Japanese brand like Attack on Titan. We are trying to get these brands to India and generally Japanese brands have very strict requirements. It’s a matter of them understanding that there’s a huge market here in India and we want to be the first ones to bring it to India.
The Indian startup ecosystem has not only disrupted the traditional market but also created new markets and opportunities, showcasing India’s potential for innovation and entrepreneurship.
Stay tuned to the Crafting Bharat Podcast Series as they bring you these inspirational entrepreneurs for insightful and candid discussions with Gautam Srinivasan.
