NEW DELHI: Captain Virat Kohli has retained his rank as India’s No. 1 celebrity endorser in 2018. The 30-year-old cricketer’s brand value has shot up by 18% from the previous year, revealed a celebrity brand endorsement report.
Bollywood superstar Shah Rukh Khan, whose latest film Zero failed to enthuse the box-office, saw his brand value slip by an alarming 43%. Khan who has been occupied with film productions and health issues, signed only a few endorsement deals over the last year. As his last hit movie Raees was released in January 2017, the actor lost some of his endorsements, including ViJohn, Dish TV and Frooti to younger celebrities, according to the report by Duff Phelps.
The total value of the top 20 celebrity brands was pegged at $877 million in 2018, with the top 10 contributing more than 75% of the total value. “While Bollywood celebrities dominate the rankings of the top 20 celebrities, sportspersons provide tough competition,” said Aviral Jain, MD at Duff Phelps. “Kohli, Sachin Tendulkar, M S Dhoni and P V Sindhu collectively contributed almost $241 million, which is over 27% of the cumulative brand value of the top 20 celebrities.”
Interestingly, master blaster Tendulkar’s brand value is on the rise despite his retirement from cricket. With a brand valuation of $22 million, the former cricketer currently endorses around 12 brands, including BMW. His erstwhile teammate Rahul Dravid, too, inked endorsement deals with multiple brands, including Philips Air Purifiers and Google Pixel, post retirement.
In addition, brands have started to leverage the larger platform that is being provided by the rising popularity of power couples.
Celebrity-led endorsements over the past decade grew 10% annually, from 650 in 2007 to 1,660 in 2017, according to sports entertainment marketing agency ESP Properties. “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,” said Varun Gupta, MD and Asia-Pacific Leader for Valuation Services at Duff Phelps.