By Bengaluru, India – Food delivery giant Swiggy is taking a bold step beyond its core business by launching a wholly owned subsidiary dedicated to sports and recreational activities. The move marks Swiggy’s entry into the dynamic sports industry, with plans to engage in team ownership, talent development, event management, and sports facility operations.
According to a filing with the stock exchange, the yet-to-be-named subsidiary will also pursue broadcasting and sponsorship rights while promoting sports events through innovative business models. The entity is still in the process of incorporation, with an initial share capital of ₹1 lakh. Once established, it will operate as a 100% Swiggy-owned subsidiary.
Swiggy’s foray into sports comes on the heels of its recent acquisition of Team Mumbai for the inaugural season of the World Pickleball League (WPBL), slated to be held in Mumbai from January 24 to February 2, 2025. This strategic investment signals Swiggy’s intent to tap into India’s burgeoning sports ecosystem, with a special focus on emerging and recreational sports like pickleball.
A New Chapter in the Competitive Landscape
Swiggy’s move into sports and recreation mirrors a similar diversification by its competitor, Zomato. In August, Zomato acquired Paytm’s ticketing business for ₹2,048 crore, enabling its entry into the events and ticketing industry. Zomato followed this up with the launch of District, an app that integrates dining-out services with event ticketing for movies, live performances, sports, and more.
With its new subsidiary, Swiggy aims to broaden its portfolio and capitalize on the increasing consumer demand for sports entertainment and experiences.
Building a Sporting Legacy
Swiggy’s plans for its sports-focused subsidiary include expanding beyond event promotion into talent nurturing and operational excellence in managing sports infrastructure. By securing broadcasting and sponsorship rights, Swiggy could position itself as a significant player in India’s sports ecosystem.
This move underscores Swiggy’s ambition to diversify its business model while leveraging its established brand and vast customer base. The incorporation of the subsidiary is expected to create new synergies, potentially paving the way for collaborations with leagues, athletes, and other stakeholders in the sports industry.
As India’s appetite for sports entertainment grows, Swiggy’s entry into the sector could bring exciting opportunities for fans, athletes, and businesses alike. Further updates on the subsidiary’s name and operational strategies are eagerly awaited.
