BYJU’S intends to sever all ties with BCCI
BYJU’S intends to sever all ties with BCCI :
Introduction:
The online lesson company Byju’s first joined forces with Oppo in 2019, when Oppo ceded the sponsorship rights to them.
By working with Cricket, BYJUS hopes to encourage parents to let their kids become lifelong self-learners and motivate youngsters to embrace learning.
Due to the worldwide economic downturn, Byju and other edtech companies have begun to cut back on their advertising expenditures.
According to a report, the current development indicates that BYJU’S is looking to comprehend its media spending.
Termination of partnership with BCCI:
The Indian men’s cricket team’s sponsor since 2019, the Indian edtech giant BYJUS, is looking to end the agreement after March 2023 and would cancel its contract with the Board of Control for Cricket in India (BCCI).
According to a BCCI official.Byju’s wants to discontinue the sponsorship agreement with BCCI because it is increasing its media expenditure in India.
According to reports, BCCI has confirmed the development.
“Yes, they have written to us they want to exit jersey sponsorship. The matter will be discussed at an apex council meeting. They need to comply with all contractual obligations and exit can be taken,”
the report stated by a senior official.
How byjus was criticized?
Following the layoffs, the company’s marketing and promotional costs came under fire, particularly the most recent celebrity endorsement, Lionel Messi, as well as sponsorship agreements with the BCCI and the FIFA World Cup.
The unicorn continues to spend significantly on branding initiatives, according to critics, who claim that the cash position primarily has an impact on BYJU’S employees.
If its true then, let us look forward to see which brand replaces Byju’s in the Indian Jersey.
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