KKR captain Ajinkya Rahane joins footwear brand Chupps as investor
What's the story
Cricketer Ajinkya Rahane, the captain of Kolkata Knight Riders, has invested in Mumbai-based open footwear brand Chupps. The investment value remains undisclosed. As an equity investor and advisor for the company, Rahane will help develop new product lines focused on comfort and recovery. This strategic move comes as part of Chupp's plan to expand its operations ahead of a planned Series B funding round.
Business strategy
Chupps plans to expand physical retail presence in India, UAE
Founded in 2020 by Yashesh Mukhi, Chupps is a five-year-old direct-to-consumer (D2C) company. The brand wants to shift from a digital-first approach to an omnichannel retailer. It plans to use the capital from Rahane's investment to expand its physical retail presence in India and the UAE. This would mark a departure from its current reliance on third-party marketplaces like Myntra and Amazon.
Product innovation
Rahane to advise on 'ERGO-Charge' range
Rahane's investment marks Chupps's first major foray into athlete-led product development. He will advise on the brand's "ERGO-Charge" range and an upcoming line of recovery footwear. "What drew me to Chupps was the product," Rahane said, emphasizing his active involvement in future innovations.
Market
Mukhi says brand has moved beyond 'early validation' stage
Mukhi said that the brand has moved beyond "early validation" and is now focused on distribution depth. However, it faces tough competition from established domestic companies and international giants like Crocs and Skechers. These firms have aggressively captured the premium comfort segment in urban India. Despite these challenges, Rahane's investment could help Chupps strengthen its position in this competitive market.