Home American fashion company Virat Kohli: Brands’ innings with King Kohli are set to continue

Virat Kohli: Brands’ innings with King Kohli are set to continue

The resignation of Virat Kohli, India’s highest paid brand endorser, as captain of the national cricket test team is not expected to impact the number of brands he endorses and/or on what it charges in the short term, executives and experts said. Kohli’s move, announced on Saturday, follows his departure as skipper of the T20 and one-day international formats.

“It is our privilege at Puma to be in a long-term partnership with Virat. He leaves behind an exceptional legacy as a captain; he is an exceptional performer as a leader and an athlete,” said Abhishek Ganguly, Director general, Puma India and Southeast Asia. . The German sports brand has an ongoing deal with Kohli which was signed in 2017 for Rs 110 crore for a period of eight years.

Kohli’s fronts for nearly 30 brands and its annual revenue from endorsements was estimated at Rs 178.77 crore in 2021. Labels include Puma sportswear, Hero two-wheelers, MRF tires, Audi cars , Myntra fashion platform, American Tourister luggage, Vivo smartphones and Hyperice wellness. He also endorses and owns a stake in clothing and accessories brand Wrogn.

“Huge social network following an asset”

“Brands are looking for form and until Kohli is active and successful on the pitch, brands will stay with him,” said social commentator Santosh Desai, drawing a comparison to former skipper MS Dhoni. “Dhoni remains visible in advertising even now, as does Kohli,” he said. “Also, there is no one on the cricket team at the moment who matches Kohli’s stature as a player.”

A TAM Sports celebrity endorsement report based on IPL13 and IPL14, released in November last year, ranked Dhoni and Kohli as the top two celebrities in both tournaments. Dhoni was at No. 1 and Kohli in the second slot.

Executives in the sports marketing industry said Kohli would continue to dominate others in the brand endorsement space for at least another four to five years.

Sangeet Shirodkar, co-founder and managing director of sports marketing firm 27th Sports, who has worked on endorsement deals for Kohli and previously for MS Dhoni, does not expect any decrease in the value of the Kohli brand. “Virat’s personality goes beyond cricket and his massive following on social media is an asset,” he said. “Today, brands value an ambassador for their influence in the digital world more than just a captain tag.”

Bunty Sajdeh, co-founder of Cornerstone Sport and Entertainment, the talent management agency that represents Kohli, declined to comment. Other major brands that Kohli is associated with, such as Myntra and Hyperice, did not respond to questions.

Some leaders differ

Some other executives said his exit from the captaincy would gradually affect brand equity and associations. “Kohli’s departure will certainly impact both his recommendations and his price gradually, if not immediately,” said Sandeep Goyal, managing director of ad agency Rediffusion. “Historically, the lion’s share of brand endorsements in Indian cricket has always gone to the captain. Either how many brands Kohli endorses or what he charges will reduce.”

Kohli reportedly charges Rs 7.5 to Rs 10 crore per day for brand endorsements.

According to Hopper Instagram Richlist 2021, Kohli is paid Rs 5 crore per sponsored post on Instagram. He has 179 million followers on Instagram and 46 million on Twitter. He has been India’s most valuable celebrity for four consecutive years.

A celebrity brand valuation study by Duff & Phelps estimated the cricketer’s brand value in 2020 at $237.7 million, ranking him first in India, followed by actors Akshay Kumar at 118 $.9 million and Ranveer Singh at $102.9 million.

The value is based on endorsement portfolios and individuals’ social media presence.