Mumbai Indians owners to expand IMG-Reliance brand worldwide in sports & lifestyle sector

Reliance Industries Limited reportedly has major aspirations when it comes to ir IMG-Reliance brand. company h also bought ir partners, IMG Worldwide, for ₹52.08 crores last year, and y are planning to incorporate major changes with it in coming days. Indian conglomerate on Wednesday took first step towards ir goal as y anunced rebranding of IMG-Reliance brand. company henceforth would have identity of 'RISE Worldwide Limited' and y will deal with sports and lifestyle segments in India as well as globally. 

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IMG-Reliance re-branded to RISE Worldwide Limited 

IMG group has been a part of several lucrative projects in country. y were first to win event rights for Indian Premier League and have been successfully organising competition since its inception. However, according to recent reports, Board of Control for Cricket in India (BCCI) is contemplating managing IPL 2021 on ir own after ir alleged fallout with IMG. Moreover, y also have ISL 2021 in ir kitty, and manment will be keen to make it a grand success after ir re-branding. 

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Apart from aforementioned associations, company also mans several top Indian players like Rohit Sharma, Jasprit Bumrah, Hardik Pandya, Krunal Pandya, and many more. Most of players mand by firm are a part of Nita Ambani-owned Mumbai Indians team. With Nita Ambani showing keen interest in developing sports in country, she could align her aspirations with RISE Worldwide Limited. company also mans various or intellectual properties such as  Lakme Fashion Week, ATP Tata Open Maharashtra, ATP World Tour event, and many more. 

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price of Reliance shares saw a mir drop recently. At time of writing this report, share was tring at ₹1,844.95, which is down by 1.68% when compared to its previous closing. However, think tank at Reliance Industries Limited surely seem to have a major plan, and ir move of entering into  sports and lifestyle sectors independently could prove to be beneficial for m in long run. y own and man several lucrative sporting and n-sporting entities, and success of Mumbai Indians speaks volumes about ir potency. Apart from being event partners, y also help facilitate sponsorship deals for IPL franchises, which y are likely to continue for IPL 2021. 

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Im source: AP