MUMBAI: Reliance Industries has renamed its sports and lifestyle business, which was previously run under the IMG Reliance joint venture, to RISE Worldwide.
The company has decided to venture into the sector independently in India and worldwide after purchasing IMG’s 50% stake in the joint venture last month.
RISE Worldwide will continue to advance its entire portfolio of owned and operated branded properties, the company said.
RISE Worldwide’s portfolio includes sports and sponsorship consulting, building fashion and sustainability platforms, talent management for athletes, licensing, broadcast production as well as lifestyle and entertainment. It will also own or manage important properties like the Indian Super League, Lakme Fashion Week, Tata Open Maharashtra, Jio Wonderland, and SU.RE Sustainable Resolution.
“RISE Worldwide aims to provide a comprehensive solution for the sports, lifestyle and entertainment industries as an integrative force creating a symbiotic ecosystem dedicated to nation building by inspiring youth through our various initiatives” said a spokesman.
RISE’s athlete talent management division will continue to manage six cricketers including Rohit Sharma, Hardik Pandya, Jasprit Bumrah, Shikhar Dhawan, Shreyas Iyer, and Krunal Pandya.
The sports sponsorship and consulting department represents brands like Dream11, boAt and BKT Tires in India and worldwide.
The company has also been selected to exclusively market the global virtual inventory of the Indian cricket team’s recently completed tour of Australia.
It also has a full broadcast production setup and looks forward to signing sports production contracts around the world.
“Building on our existing relationships, trust and industry knowledge, RISE aims to help partners effectively reach their target audience by bringing their creative initiatives to life and providing consumers with first class experiences in each of our properties,” added the spokesman .
The transition to an independent brand identity aims to allow autonomy for various industries currently in the sports and lifestyle business to develop and develop industry-leading strategies and best-in-class customer experiences as the company continues to invest in the segment concentrated.