🎾 Swiggy steps into sports
Swiggy has launched Swiggy Sports Pvt. Ltd.This new subsidiary focuses on sports team ownership, event organization & talent development.The move aligns with its ₹45.8 crore out-of-home business in Q1 FY25.Swiggy acquired Team Mumbai in the World Pickleball League (WPBL) in Nov 2024.WPBL’s inaugural season kicks off on 24 Jan 2025.
🛠️ Strategy behind the pivot
Swiggy’s sports venture aims to amplify its brand recall.It targets diverse age groups with popular formats like pickleball.The move follows a trend of Indian firms investing in sports franchises.Vedanta acquired Kalinga Lancers, & GMR invested in Hampshire Cricket Club.
🏓 Why pickleball matters
Pickleball’s popularity is rising across metro cities in India.It attracts both young & older audiences, aligning with Swiggy’s offerings.Swiggy’s venture reflects its multi-app approach seen in its grocery & dining businesses.This strategy sets it apart from competitors like Zomato.
📊 Market competition heats up
Zomato is also exploring new verticals, including event ticketing.It acquired Paytm’s ticketing business for ₹2,048.4 crore in Aug 2024.Zomato’s dining-out segment now runs at ₹4,184 crore annualized GOV.Swiggy’s entry into sports marks a bolder diversification strategy.
Will Swiggy’s foray into sports outpace Zomato’s dining focus?
