Foodpanda has signed up actor Shah Rukh Khan to endorse its brand, as the online food delivery startup looks to regain the market share it has lost to competitors such as Zomato and Swiggy, a top executive with direct knowledge of the matter said.
The endorsement deal has been signed at a time when Foodpanda’s German parent, Delivery Hero, is planning to spend a major chunk of the $431 million (Rs 2,800 crore) funding it received from South African Internet and media group Naspers. Foodpanda is looking to compete aggressively on technology and delivery with the bigger rivals.
Details of the deal terms with Khan weren’t available.
Foodpanda India chief executive Saurabh Kochhar didn’t respond until press time Wednesday to an email seeking comment.
“Foodpanda is looking to gain bigger traction in the bigger food game and delivery business,” the executive ET spoke to said.
Delivery Hero bought Foodpanda in last December from Rocket Internet, which owned a stake in the German online food delivery platform as well. The deal was done after the Indian operations reported losses.
“We are constantly looking to strengthen and enhance our food ordering and delivery experience,” Saurabh Kochhar said in a statement issued announcing the Naspers investment.
Foodpanda Ropes in Shah Rukh Khan as Brand Ambassador