New Delhi, (PTI) The upcoming cricket World Cup being organised by the ICC in the Indian subcontinent is expected to rake in over USD 1 million (over Rs 4.5 crore) from the sale of merchandise, both online and at match venues.
UK’s IVS Group, the International Cricket Council’s (ICC) venue concessionaire and webstore licensee, is focusing on local production of merchandise like jerseys, T-shirts, caps, headgear and souvenirs.
“We anticipate sales will be in excess of USD 1 million. Our early forecast is for high sales at the event and we have ensured our product mix caters to all cricket fans, both in the subcontinent and globally,” IVS Group Project Manager Matt Hassall told PTI.
IVS will sell merchandise over the Internet as well as at the match venues and hotels and airports in India, Bangladesh and Sri Lanka, he said.
“By using local production for our large volume items, we have quick turnaround capacity,” Hassall said, adding that the company will ensure that it has sufficient products available to cater to all tastes.
He said the headwear range is already seeing brisk sales. “Both caps and sunhats are selling well online,” he added.
The ICC’s official portal is selling apparel and caps in the range of USD 20 to USD 50 and small items such as key rings and pins are priced at around USD 5.
IVS has also partnered with KyaZoonga, which is the official ticket partner of the ICC, to offer products to ticket buyers.
“We have not even created much noise about it (the merchandise range) yet, but are already seeing people buying products along with tickets. There is a lot of demand,” KyaZoonga Chairman and CEO Neetu Bhatia said.
It is, however, estimated that overall revenue from official World Cup merchandise sales will be much more than USD 1 million, with India’’s Future Group -- another official merchandise partner -- revving up campaigns ahead of the mega cricketing event being held from February 19 to April 2.
The Kishore Biyani-promoted group will be selling a wide range of merchandise at its Central, Planet Sports and Big Bazaar outlets, aggregating to over 150 retail points.
“We have launched a wide range of merchandise in the past, right from cricket to Bollywood, but expectation from the latest range is much more, as cricket is in the heart of every Indian and the tournament is happening in the Indian subcontinent,” Big Bazaar Business Head (North) Vineet Jain said.
He, however, did not divulge the revenue expectations from the latest offering.
Big Bazaar is offering cricket merchandise such as T-shirts, track pants, shorts, sweatshirts, caps, head bands, bed and bath linen products at prices upward of Rs 199.