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The New Shop, a 24-hour convenience retail company has appointed Bollywood actor Rajkummar Rao as its brand ambassador. The actor will feature in a series of campaigns aimed to improve its footprints across the country. He will be seen in digital and on print platforms like social media, OTT, OOH, and IVR messaging to connect with prospective consumers through physical stores and in-app services.

Accelerate Product X ventures Pvt Ltd -- the company that owns The New Shop-- is two years old and has about 100 stores of which 70 are franchised. With its plans to expand and open new stores in the near future, the company wants to go beyond conventional strategies of consumer engagement through collaboration with Rajkummar Rao.

Rajkummar Rao said, “I am thrilled to be partnering with them, a young brand exhibiting rapid growth. I identify with the co-founders‘ determination to create a brand, ensuring its sustainability, and profitability; and I believe this comes from their prior entrepreneurial experiences.“

Aastha Almast, co-founder and head of business for the company said, “We believe that now is the right time to bring on board a brand ambassador and strengthen our brand-building initiatives. While carving a niche as an actor in Bollywood can be quite daunting, Rajkummar Rao has proven to the world over time and time again that talent is not only a product of merit but a combination of perseverance and diligence. What sets him apart is the unconventionality with which he has navigated through the industry by setting his own rules and striking a chord with the audience. His risks have been nothing less than entrepreneurial, which resonates with the company’s organic growth and breaking systemic barriers by providing round-the-clock quality services to consumers.“

According to a research done by Kearney, India’s retail industry is projected to grow at 9% CAGR over this decade, from $779 billion in 2019 to $1,407 billion by 2026 and more than $1.8 trillion by 2030.

Although the pandemic put major stress on discretionary spending, especially in lifestyle retail categories such as apparel, footwear, fashion accessories, cosmetics, small appliances, and home and living, this segment is expected to bounce back stronger after the pandemic. The lifestyle retail categories are expected to grow at a healthy 10 percent to become a $249 billion market by 2026

ABOUT THE AUTHOR
Varuni Khosla
Varuni Khosla is a journalist with close to 14 years of experience in writing business news stories for mainstream newspaper companies like Mint and The Economic Times. She reports and writes on luxury and lifestyle brands, hospitality and tourism news, the business of sports, the business of advertising and marketing and alcohol brands.
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