Vivo is the new title sponsor for IPL – The Fearless Indian
Home / Tech / Vivo is the new title sponsor for IPL

Vivo is the new title sponsor for IPL

  • Hiral Patel
  • October 19, 2015
  • Tech

Vivo Mobiles, a Chinese mobile phone maker, has replaced PepsiCo Inc. as title sponsor of India’s premier cricket league, the Board of Control for Cricket in India said in an e-mailed statement.

Despite being a new entrant, Chinese smartphone maker Vivo has a marketing budget in excess of Rs125 crore in India, supported by its parent who wants to make the country its second largest market after home.

Vivo replaced PepsiCo as the title sponsor of the T20 tournament, after the beverages maker pulled out two years before its term ended, citing concerns over ethical issues and the spot -fixing scandal that rocked the IPL.

The BCCI banned the three cricketers for life and the Supreme Court appointed the Justice Mudgal committee to investigate the scandal.

On Sunday, the Board of Control for Cricket in India announced that the IPL title sponsorship right has been assigned to Vivo, but didn’t disclose the financial terms. A BCCI official indicated that it could be around Rs 150 crore for two years. It also extended Nike Inc.’s contract as the tournament’s official apparel sponsor.

Vivo is focusing much more on offline retail. Its goal is to create a wide sales network in offline stores, which still account for 80per cent of smartphone sales in India. Brands like Xiaomi and Huawei, and for that matter several newer entrants, are still focussing on online-only sales.

Vivo is positioning itself as premium smartphone brand which may not be the price warrior as Chinese brands are conceived to be, but on as a value-for-money proposition. Hence, it is focusing more on offline retail to show users the product, build consumer experience and in that it seems to be following a much more stronger long-term business model,” a senior executive said.

You may also like

Check Also

The Fearless Indian

Astronomers discover new solar system TRAPPIST – 1

A huddle of seven worlds, all close in size to Earth, and perhaps warm enough …

%d bloggers like this: