Here’s Why J Lo and Alex Rodriguez are Investing Millions of Dollars on This Indian Company
While other celebrities are busy with endorsement deals, Hollywood power couple Jennifer Lopez and Alex Rodriguez are doing something else. Instead of lending their face to big brands, the couple is investing their hard-earned millions directly into these companies.
According to reports from Economic Times, the celebrity couple has recently decided to put $6 million on the Indian startup company, Sarva. The three-year-old company is currently focused on expanding their yoga studios of which they have 91 of in India.
Aside from the couple, founder, Sarvesh Shashi, has also managed to rope in other big-time investors from the United States. Most of them are also in the wellness and fitness niche including Mark Mastrov of 24 Hour Fitness Worldwide, and David Giampaolo, who’s known for Zumba Fitness.
As of latest, Sarva reports garnering investments worth a total of $8 million in equity financing. In total though, they’ve managed to raise around $15 to 20 million including pledges they got from the previous year. The company seems to be quite popular in their home country as well as having received support from Bollywood celebrities like Malaika Arora.
Convincing J Lo and A-Rod
According to a statement from Lopez, their decision to invest a large sum of money on the startup was the result of her personal experience with yoga. Saying how the practice has benefited her both physically and emotionally, she believes that Sarva’s intention to spread yoga practice further complements her own principles.
While Lopez and Rodriguez are fully on board now, it took two months and a couple of cross-Atlantic trips before Shashi was finally able to secure their trust. It also helped that Rodriguez was already acquainted with one of Sarva’s backers, Mastrov.
The couple’s wariness isn’t surprising though as both of them are quite experienced when it comes to investing. In fact, Rodriguez has his own firm, A-Rod Corp., through which he makes most of his investments. He currently has stakes in companies from niches like media and entertainment, fitness and real estate.
Meanwhile, Lopez seems to like to keep her hard-earned millions in real estate, owning multiple high-value properties all over the US. The entertainer has an estimated net worth of $400 million, most of which are from her successful music career. On the other hand, her former baseballer fiance has a rather impressive total career earnings of $480 million according to sources.
The Wellness Market
Seeing how well companies in the wellness niche are currently doing, it seems like the couple made the right decision with their investment. According to Economic Times, the wellness and fitness market is worth $4.2 trillion with the yoga niche being pegged at $80 billion.
If things go as planned, Sarva is looking to expand their services in the Indian subcontinent to 500 studios spanning 15 major cities by the year 2022.
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