India is unlike any other country in the world when it comes to celebrity worship. Cricket players are among the country’s wealthiest and most famous celebrities, enabling them to advertise with ease.
Though international athletes like Michael Jordan, Cristiano Ronaldo, and Venus Williams have had a lot of success with their own brands, this celebrity brand endorsement trend is slowly catching on in India.
Indian Athletes At The Top:
In India, the number of athlete brands has risen from three at the end of 2016 to seven now. However, not all of them are succeeding, according to a spokesperson for a celebrity-driven brand who spoke on the condition of anonymity.
According to the official, most companies depend solely on the athlete’s charisma to sell goods. Since the market is dominated by suppliers, more brands will enter this room in the near future.
PARTNERS Vs ENDORSERS
It’s worth looking at the two major business models of athlete-led celebrity branding to understand what’s in it for sports celebrities and entrepreneurs. One scenario is when an athlete is endorsed by a major label and then launches his or her own line under that label. Air Jordan (Nike with Jordan) and One8 are two examples of such partnerships (Puma with Virat Kohli).
The other model is where an athlete, such as Seven or Cheqmate, is the face of an independent brand. In this case, the athlete receives a royalty or a percentage of revenue by licensing his or her name to the company.
Kohli’s fingers are in both pies: Since November 2014, the Indian cricket captain has also been affiliated with Wrogn, a men’s casualwear company, in addition to sports lifestyle brand One8 with Puma. Universal Sportsbiz Private Limited (USPL), backed by cricket legend Sachin Tendulkar, owns Wrogn. Kohli is also a brand ambassador for a variety of well-known companies, including Manyavar, Tissot, Audi, and Uber.
Indian labels, on the other hand, are more cost-effective. On Seven’s website, the cheapest men’s T-shirt costs $325.
Wrogn and Yuvraj Singh’s YouWeCan tees start at $699 and $799, respectively. Puma’s One8 series of men’s shoes start at $2,799 and go up to $6,999.