This partnership will create a pathway for Rage Coffee to acquire customers, the company said.
Virat Kohli has joined Rage Coffee, a Delhi-based FMCG firm that sells packaged coffee products, as an investor and brand ambassador.
According to the corporation, this partnership would entrench Rage Coffee and pave the road for client acquisition. Rage Coffee previously secured $5 million in expansion capital in August 2021 as part of its Series A fundraising round sponsored by Sixth Sense Ventures.
“I’ve been using Rage Coffee products for some time, and I am excited to be a part of its growth journey. The team at Rage Coffee has shown high levels of business execution and stupendous growth over the last couple of years. I see tremendous potential for the brand to become one of the most iconic coffee companies of our time,” said Virat Kolhi in a press statement.
Since its start in 2018, the brand has expanded its offline network to 35 distributors, 4 CFAs, and 5 super stockists, spanning 2500+ offline touch-points across India.
The brand intends to extend its online and physical presence across India, and will use new funds for marketing and distribution. According to the firm, Rage Coffee will also utilise the cash to grow production, develop innovative new products, and hire top management expertise.
Apart from selling coffee in cold brew bags, liquid coffee, and sachets, Rage Coffee sells a variety of basic and flavoured instant coffee blends. The transaction comes on the heels of a $5 million fund raising spearheaded by Sixth Sense Ventures in August 2021.
Rage launched as a direct-to-consumer brand in 2018. It now offers things both online and offline. Its offline network spans India and includes over 2,500 offline touch-points.
“Virat Kohli has set some unrivaled records in the top echelon of world cricket and is rightly known as the best batsman in the world. Apart from being a world-class athlete, Virat is also a fitness enthusiast who is committed to an attitude that fosters a healthy lifestyle and it seamlessly aligns with the ethos that Rage Coffee promotes. Our association with him sets us on a journey where we envision perfection through our constant efforts directed at being the best in our segment,” said Bharat Sethi, founder and CEO, Rage Coffee.
According to a celebrity brand valuation analysis by Duff & Phelps, the former Indian cricket team captain was the top celebrity sponsor for the fourth consecutive year in 2020. Kohli’s brand worth was assessed to be $237.7 million at the time.