UAE-based LuLu Group, a retail and hospitality giant with operations in 22 countries, is mulling a sponsorship deal for the Indian Premier League (IPL), two media outlets have reported. The IPL this year will be held in the UAE on account of the COVID-19 pandemic.
LuLu Group, which is most famous for its chain of hypermarkets, claimed a turnover of $7.4 billion in 2019.
Arabian Business quoted V. Nandakumar, director of corporate communications of LuLu, as saying, “Some [sponsorship] proposals have come [from IPL]. However, we have not taken any decision [on the proposal] so far."
The Khaleej Times reported LuLu Group could become an associate sponsor of the IPL. Brijesh Patel, chairman of the IPL governing council, told Khaleej Times LuLu had not submitted a bid for sponsoring the IPL title.
"They [Lulu Group] have not submitted their bid for the title sponsorship. They have not participated in the bidding process... However, they can be one of the associate sponsors...,” Patel told Khaleej Times.
The deadline for title sponsorship for this year's IPL ended on August 14 and a sponsor is expected to be announced on Tuesday. According to reports, Tata Sons is considered a frontrunner. The title sponsor selection was necessitated after China’s VIVO dropped out, amid rising calls in India for a boycott of Chinese goods over the Ladakh standoff.
Arabian Business quoted experts as saying sponsorship of the IPL by LuLu could provide massive benefits to the group.
"It can actually bring double-benefit to LuLu Group in terms of brand building both in UAE and in India, where it has presence in many areas but not as well known yet,” Harminder Sahni, founder and managing director of Wazir Advisors, told Arabian Business.
