East Bengal-Emami Group tie-up - All you need to know about the Red and Golds' new investor

Indian football giants East Bengal, on May 25, announced the arrival of Kolkata-based multinational company Emami Group as their new investor.

The Red and Golds senior official Debabarata Sarkar, along with representatives from the Emami Group, made the announcement of the tie-up in the presence of West Bengal Chief Minister Mamata Banerjee who played an important role in bringing the two parties closer.

Along with the arrival of a new investor, the club also confirmed that they will participate in the forthcoming ninth season of the Indian Super League (ISL).

All you need to know about the Emami Group

The Emami Group was founded in 1974 in Kolkata by two friends Radhe Shyam Agarwal and Radhe Shyam Goenka. The childhood friends decided to quit their jobs as chartered accountants with the Birla Group to set up Kemco Chemicals - an Ayurvedic medicine and cosmetic manufacturing unit in Kolkata - with a capital of Rs 20,000.

It was considered a bold step taken by the two youngsters, especially because the Fast-moving consumer goods (FMCG) market at that time was mostly dominated by multinational companies.

The duo of Agarwal and Goenka managed to revolutionize the use of Ayurveda and started manufacturing cosmetic goods under the brand name Emami.

In which sectors do Emami Group operate?

Starting as an FMCG firm, Emami Group has diversified itself over the years. They currently operate in 10 sectors namely, FMCG, Edible Oil, Biodiesel, Newsprint and Paperboard, Real Estate, Writing instruments - Ballpoint tips, Healthcare, Pharmacy retail, Book Store and Contemporary art. Sports will be 11th sector they'll turn their attention to now with East Bengal under their wings.

How big is the Emami Group?

The Kolkata-based company currently operates in 64 countries including India and have close to 25,000 employees across the world. As of 2021, their group revenue is approximately INR 20,000 crore.

What is the deal between East Bengal and Emami Group?

While the Kolkata giants confirmed the arrival of their investors and their participation in the upcoming edition of the ISL, there is still no clarity over the contractual details of the deal. Senior East Bengal official Debabrata Sarkar informed Goal that the contractual agreements are yet to be finalized and will be done in due course but he clarified that Emami Group will only invest and hold a majority stake in the football division of the club.

How will East Bengal benefit from the deal with Emami Group?

Emami Group come on board as the third investor of East Bengal in the last four years. In 2018, East Bengal had tied up with Bengaluru-based Quess Corp but the relationship between the two entities lasted for two years as Quess parted ways with the club in June 2020.

I-League

After Quess’ departure, Kolkata-based multinational firm Shree Cement got associated with the century-old club which facilitated their move to the Indian Super League (ISL) ahead of the 2020/21 season. With Shree Cement as their investors, East Bengal took part in the last two seasons of the ISL but due to contractual differences, the two parties discontinued their association after the 2021/22 ISL season got over.

With Emami Group coming in as their new investor, the club loyalists would hope that an amicable legal contract can be drafted between the company and club so that they can finally attain the much-needed stability.

Were East Bengal and Emami Group associated before?

This is not the first time that East Bengal and Emami Group are coming together. The Kolkata-based company were the club's title sponsor during the 1996/97 season.