Itc Plans To Patent Tech For Sports Accessories

ITC, which with the launch of new brand "Wills Sport", is intent on entering the sports accessories business, plans to patent technology for the products.

The company is already in talks with top local manufacturers for sourcing the equipment, but will get the products designed elsewhere.

Sanjiv Keshava, manager, ITC's new business group, said the technology would initially be imported and then absorbed by ITC. "We will have patented technology for this, which will initially be imported", Keshava said.

The Wills Sport range would make cricket and golfing equipment and accessories and be synergistic with the business of retailing, which ITC proposes to enter.

 

ITC sees big money in this business, with the branded products part of the apparel and sports equipment business growing at a sharp 15-20 per cent every year.

The total sports and fashion apparel industry is valued at Rs 20,000 crore, with exports at Rs 2,000 crore or 10 per cent of the total turnover.

"Our strategy is not to take on competition head-on but to sidestep it and create more than just a niche", Kurush Grant, ITC's executive vice president, marketing, explained.

However, ITC clearly aims to be a huge player in this business and is already in the process of lining up local manufacturers for tie ups.

" We will be sourcing from India, but for designing the equipment we will go to the best in the world," Grant added.

ITC already owns the Classic Golf Resort, Gurgaon, rated as one of the finest courses in the country. It's investments in this business, currently under wraps, would be large, Grant indicated. The company has already spent over Rs 100 crore in sports promotion over the past four years.

To start with, "Wills Sport" will be launching the Wills Sport Golf Tour, India's first organised PGA tour spanning 23 top-class professional events in 18 courses.

The golf market is the fastest growing, though cricket is a bigger one.

The "Wills Sport" golf range will be made available at all leading golf clubs, sports shops and leading fashion outlets.