Duff & Phelps to face legal troubles over Celebrity Brand Valuation Study 2019

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Published: February 6, 2020 3:39:56 PM

Indian Institute Of Human Brands (IIHB) to send legal notice to Duff & Phelps for breach of exclusivity

Duff & Phelps released the fifth edition of Celebrity Brand Valuation Study on WednesdayDuff & Phelps released the fifth edition of Celebrity Brand Valuation Study on Wednesday

The Indian Institute of Human Brands (IIHB) is in the process of sending a legal notice to valuation outfit Duff & Phelps for breach of exclusivity. According to the think tank, Duff & Phelps had approached IIHB in November 2019 proposing an exclusive tie-up between the two organisations wherein D&P would use IIHB’s knowledge, research, data and expertise for their 2020 Report.

A lot of the data has been shown to be the work of D&P in-house teams while all the knowledge, the expertise and the perspectives were derived from interactions with IIHB, Sandeep Goyal, chief mentor, IIHB, said. “A lot of information has been rephrased and passed off as D&P’s own assessment and understanding of the subject. Duff & Phelps have completely reneged on their commitments to us on exclusivity despite multiple mails being exchanged, and specific confirmation to that effect by Vibhor Nayar, vice president in-charge of the project,” he added.

Duff & Phelps released the fifth edition of Celebrity Brand Valuation Study on Wednesday. The study provides a ranking of India’s most powerful celebrity brands based on brand values derived from their endorsement contracts. According to the study, for the third time in a row, Virat Kohli was hailed as the most valuable celebrity as his brand value rose 39% to $237.5 million in 2019. Meanwhile, Akshay Kumar secures the second position in 2019 with a brand value of $104.5 million as opposed to the third he occupied in the previous year. Deepika Padukone and her husband Ranveer Singh occupied the third position with a brand value of $93.5 million each.

Further, the study focuses on the rising trend of OTT since the upgrade of the India’s digital demography. Regional industries created ripples nationally and globally with OTT proving regional content is no longer a desired state, but a prerequisite for today’s consumer. The study also highlights the new tribe of celebrity endorsers who have become digital stars; they actively involve themselves in social causes and promote brands inclined towards fitness, health and wellness. As per the study, the total value of the top 20 celebrity brands stood at $1.1 billion in 2019, with the top 10 contributing about 75% of the total value.

The study also shed some light on the rising trend of OTT since the upgrade of the India’s digital demography. Regional industries created ripples nationally and globally with OTT proving regional content is no longer a desired state, but a prerequisite for today’s consumer. The study highlights the new tribe of celebrity endorsers who have become digital stars by actively involving themselves in social causes and promote brands inclined towards fitness, health and wellness.

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