Recently, Virat Kohli led Team India to win their first ever Test series against Australia in Australia. The skipper is highly in demand for brand endorsements because of his never-ending fan following worldwide and because of that Virat Kohli has been named as the most valuable celebrity brand in the country for the second year in a row.
Indian captain’s brand value is at USD 170.9 million which is 18 per cent higher than last year’s, according to a report. The cricketer endorsed 24 brands as of November 2018, the global valuation and corporate finance advisors Duff & Phelps said in its fourth edition of the report on India’s most valuable celebrity brands on Thursday.
Bollywood actress Deepika Padukone also jumped a place higher from the last ranking and she is at number two on the list with a valuation of USD 102.5 million. She endorsed 21 brands as of November 2018.
To maintain a long-term association with the brand, endorsers like Virat and Deepika have been structuring endorsement deals with an equity element.
Duff & Phelps managing director and Asia Pacific leader for valuation services Varun Gupta said, “The celebrity endorsement market in India has matured from vanilla endorsement deals to full-fledged partnerships through innovative routes such as equity deals and strategic partnerships…”
He continued, “Millennial celebrities continue to be the first choice for brand endorsements as companies want to have a greater focus on the youth segment fuelled by demand in sectors such as e-commerce, retail, FMCG and smartphones, among others.”
While Bollywood actor Shah Rukh Khan slipped to the fifth place from the second position, with a valuation of USD 60.7 million, actors Akshay Kumar with a valuation of USD 67.3 million and Ranveer Singh with a valuation of USD 63 million improved their rankings by a place to occupy the third and fourth position respectively.
“While Bollywood celebrities dominate the rankings of the top 20 celebrities, sportspersons provide tough competition,” said Duff & Phelps managing director Aviral Jain.
“Virat Kohli, Sachin Tendulkar, MS Dhoni and PV Sindhu collectively contributed almost USD 241 million, which is over 27 per cent of the cumulative brand value of the top 20 celebrities pegged at USD 877 million,” he further shared.
The reports also said that to target the youth the brands leverage a larger platform created by power couples coming together. In 2018 power couple Virat and Anushka have endorsed around 40 brands together.
The total value of the top 20 celebrity brands stands at USD 877 million, with the top 10 contributing more than 75 per cent of the total value.