HomeLane, a home interiors company, has announced a three-year strategic partnership with ace cricketer Mahendra Singh Dhoni as an equity partner and brand ambassador on Monday.
Dhoni will own equity in HomeLane and also serve as the company's first brand ambassador, according to the company. However, information about Dhoni's investment has not yet been disclosed.
Speaking on the development, HomeLane, stated that the platform was created to provide users with easy and transparent access to home interiors anywhere in the country, and this strategic partnership is a step toward that goal.
This collaboration will enable the creation of a new campaign that will be released during 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 recognized 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 expands into new markets and deepens its presence in its current 16 cities, the company's strategic partnership with MS Dhoni will allow it to create high visibility among people and connect with its consumers.
It also intends to expand to 25 new tier II and III cities over the next two years, with a marketing budget of Rs 100 crore to support this massive expansion.
Commenting about the collaboration, Dhoni said, “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."
HomeLane, which was founded in 2014, had operating revenues of 230.4 crores for the fiscal year ended March 31, 2020, representing a 130% increase over the previous fiscal's revenues of 99.95 crores.
With over 4000 projects completed across the country, the company has extensive experience assisting customers in the construction of their dream homes. HomeLane provides free personalized design services to all of its customers.
It currently operates in 16 cities across India, including Bengaluru, Chennai, Hyderabad, Mumbai, NCR, Kolkata, Pune, Coimbatore, Vizag, and Mysore.
HomeLane has raised a total of $63.4 million in funding across nine rounds. Their most recent funding came from a Convertible Note round on August 31, 2020, according to the Crunchbase website.
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