Summary
A year since its launch, the cricket-focused shoes and sports apparel company is taking performance-based running shoes to run clubs and marathoners and expanding into mass-priced cricket shoes.
A year after launch, Sachin Tendulkar’s sportswear and athleisure brand Ten X You is turning to running as its next growth area, while targeting ₹100 crore in annual revenue by March 2027, a top executive said.
While Ten X You’s best-selling products in its first year include performance shoes for cricketers, the company is rolling out footwear designed for different kinds of runners. It is also taking T-shirts and other running apparel to marathons and running clubs across India, Karthik Gurumurthy, co-founder and chief executive of Ten X You, told Mint in an interview.
“We have had over 1 lakh customers so far, establishing dominance in cricket, where we wanted to build,” Gurumurthy said. “We launched running shoes in January, and they have caught up well. We are also doing a lot more on the running apparel side. Our running t-shirts and shorts are doing very well.”
Ten X You sources its nylon running apparel from Sri Lanka. Cricket still accounts for 45% of the company’s revenue, while running contributes 30%, he added.
“We are now planning to make it [portfolio of running goods] big,” Gurumurthy said. “In running we want to get more technical. We want to launch a long-distance [marathon] running shoe. We started with a recovery running shoe [in January] and a tempo running shoe which weighs only 200g. This is one of the lightest shoes in the market, with a carbon plate at the bottom and casting polyurethane outsole to reduce the overall weight.”
Ten X You has been reaching out to running clubs across India and attending major marathon events, including the 13th Wipro Bengaluru Marathon, which concluded in late September, Gurumurthy added.
The brand, launched in October last year, has raised a total of $6.5 million from backers including venture capital firm Peak XV and Alteria Capital. Sachin Tendulkar serves as the company’s ‘chief inspiration officer’.
Finish line
Ten X You is targeting aggressive expansion, aiming to cross ₹100 crore in annual revenue by March 2027, Gurumurthy said. The company is currently at an annualised revenue run rate of ₹60 crore.
It will also open two exclusive brand outlets (EBOs) this year and plans to have six such stores by March. Besides, the company is keen to enter the mass-priced footwear segment.
“The top price point of ₹7,000 [a pair] and above [in cricket] is dominated by Adidas,” Gurumurthy said.
“This segment is about 10% of the market. In the middle segment of ₹3,500-7,000, we and Asics are the only players there. We have yet to enter the under ₹3,500 segment, which is more than 60% of the market. We will launch this very soon, we are already pitching a product for this segment to our retailers. Currently, we have a network of about 250-300 multibrand sports stores in the country, but with this lower priced shoe we can [take] this to 1,000 stores,” he said.
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Rising competition
Competition in India’s sports-shoe market is intensifying, with established brands and sports celebrities vying for customers. In June, Virat Kohli’s sports brand One8 was relaunched in Delhi with a flagship red-coloured sneaker inspired by a cricket ball and positioned as a lifestyle shoe. One8, previously run by Puma India, is now owned by Agilitas Sports, founded by former Puma India chief executive Abhishek Ganguly.
Meanwhile, French sports goods retailer Decathlon launched a sub-brand named Kiprun in September, focused entirely on running. Its range includes 35 varieties of running shoes designed for high performance and different kinds of running.
“The launch comes at a time when running in India is evolving into a lifestyle and community movement, with organized races, running groups, and everyday runners driving the sport’s visibility across cities,” the company said in a statement.
Growing market
Sports events in India were a ₹10,200 crore business in FY25, according to a sports business report by consulting firm KPMG released in September last year. Marathons and other running events are among the fastest-growing segments, with more than 1,500 running events a year involving upwards of 50,000 registrations annually. Marathons alone generate business worth ₹250-300 crore a year, KPMG estimated.
According to a NITI Aayog report released in March this year, India’s sports goods market was worth $2.5 billion in 2024 and is estimated to grow to $3.8 billion by 2030 and $5.6 billion by 2036. Much of the industry is led by micro, small and medium enterprises (MSMEs), with major exports including cricket bats and balls, protective gear and various types of balls.
“Taking a broader ecosystem view, India can potentially target approximately $24 billion in sports-related exports by 2036, spanning equipment, apparel, footwear, accessories, and allied services,” the report said, adding that NITI Aayog recommends the government include sports footwear and apparel in the definition of sports goods to boost production of shoes and clothing.