What’s the story?
Indian captain Virat Kohli’s brand value has seen an exponential growth after his recent successes. Kohli has reportedly hiked his endorsement fee and now charges Rs 5 crore a day for all the contracts. This is a significant step up from the earlier charging fee which was between Rs 2.5 and Rs 4 crore a day.
If the hike goes through which it eventually will, the Indian captain will emerge as the highest paid brand ambassador in the country and would breeze past names which include MS Dhoni, Ranveer Singh and Ranbir Kapoor. He could well surpass established names like Shah Rukh Khan and Aamir Khan, both of who levy Rs 3-3.5 crore per day.
If reports in the Economic Times is to be believed, this hike went through and was confirmed by representatives of the two brands Kohli has recently signed. However, both these brands have not come out with the specifics owing to the anonymity clause in the contract.
Hence, according to recent arrangements, if the Indian captain inks a four-day contract, he will be paid Rs 20 crore for the year to make appearances on four days for the specific brand.
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The combative player hogged headlines last month when German sportswear Puma announced that he had signed an eight-year contract with them. According to initial reports, the deal is expected to earn Kohli Rs 110 crore.
According to corporate advisors Duff & Phelps, Kohli’s brand value is estimated at $92 million. The recent purple patch he has enjoyed both with the bat and then as a captain has driven up his valuation by at least 30 per cent.
Kohli has established himself as one of the big players in the endorsement field and endorses a total of 18 brands which includes MRF tyres, Audi cars, Tissot watches, Gionee phones, Colgate toothpaste, Vicks lozenges and Boost milk drink.
Kohli has age on his side and considering his form and abilities he could well rewrite the advertisements and brand endorsements trends in the country.
However, it all depends on his performances on the field as this will dictate the type and number of brands who would want to be associated with him.
The Indian captain is one of the youth icons in the country and is one of the best batsmen in the world at the moment and hence it is no surprise that he is raking in huge moolahs. However, this would only continue if his performances on the field keep on being consistent and since he is the leader of the team across all three formats there will be additional scrutiny meted out to him.