Eleven years ago on March 2, 2008, a young Indian team lifted the Under-19 World Cup led by its enthusiastic captain, Virat Kohli. Even today, Kohli remains the poster boy of Indian cricket, whether for his winning streak, aggressive and sometimes controversial statements, his high-profile marriage to Bollywood actor Anushka Sharma. And his long list of brand endorsements is getting longer.
It’s hit 23 now, two of which — Myntra and Google Duo — were bagged over the last 10 days. And he co-endorses both these with spouse, Sharma.
Commanding a total brand value of $170.9 million Kohli bagged the numero uno celebrity brand endorser spot for the second year in a row in 2018. Sharma with $23.4 million was ranked 13 according to a Duff & Phelps report for 2018. With the ICC Cricket World Cup all set to kick off on May 30, there’s not better time for brands to cash in on his popularity.
Known to charge a whopping Rs 6 crore per day as an endorsement fee, Kohli is the face of Audi, American Tourister, Boost, Manyavar, Puma, Uber, Too Yumm, WROGN, Flipkart and One8. Among the first brands that Kohli ever endorsed was Fastrack, where he was cast opposite the then-more-famous Genelia D’Souza in an advertisement. “The objective for him was visibility. We wanted him to be positioned alongside a young, peppy, hip brand which Fastrack is,” says Ritesh Nath, VP, Cornerstone Sport, the talent management firm that represents Kohli.
“Since then, it has been a conscious effort to have him associate with premium brands and avoid the mass market space. We protected his image even more so during the beginning of his career, as his associations early on would set the precedent,” Nath told FE.
After endorsing Hindustan Unilever’s Clear shampoo with Anushka Sharma in 2013, other brands followed, seeing him as a ‘bankable’ star — a youth icon that could help a brand reach the urban, 14-45 age group. He cemented his responsible endorser image in 2017, when he discontinued his association with soft drinks brand Pepsi, stating that he would only endorse brands with an athletic and pro-health image.
So while cricketers are known as the poster boys for endorsements, up there with Bollywood’s glamorous actors and actresses, what makes Kohli stand out? “Kohli achieved his milestones much earlier than, say, Sachin Tendulkar,” says brand consultant Samit Sinha of Alchemist. “While Tendulkar was also at the top of his game, he was a seen as a self-effacing, shy personality, more relatable with the appeal for Indian, old world charm.” Even MS Dhoni has typically been perceived to have a level-headed, ‘Captain Cool’ type persona during his peak years. Contrasting both of them is Kohli, who has his finger on the pulse of a younger, more aggressive India.
“Earlier there was the endorsement trinity of Tendulkar, Ganguly and Dravid. Now, it is only MS Dhoni and Virat Kohli. When Dhoni moves on, Kohli will be the only major star left in the team,” notes Naresh Gupta, managing partner and CSO, Bang in the Middle.
Most notable for endorsing fashion, lifestyle and sports brands, Kohli has also been structuring endorsement deals with an equity element, with an aim to maintain long-term relevance and share the upside from the company’s performance. “We are cognizant of the fact that athletes, at the end of the day, will retire and at that point, they won’t enjoy the kind of endorsements they do today,” Nath says. “So over the last four-and-a-half years, we have looked at equity-based associations for Virat as a plan for after his cricket-playing career.”
Under such contracts, the ownership of the brand is for a stipulated period of time, typically long-term deals. Kohli is currently under such agreements with MuveAcoustics, clothing brand WROGN, and One8 — the sports brand licensed to Puma exclusively for a period of eight years. Such deals are similar to the kind penned between Nike and Michael Jordan (for the Air Jordan series) and Cristiano Ronaldo (for the CR7 series). However, while being invested in a brand could be a smart move for long-term traction, it is not a guarantee for success. “Proficiency in business requires a different skill-set,” Sinha said.
It hasn’t always been a smooth wicket for Kohli, though; he has had his fair share of controversies over the years. Last year, Kohli got mixed reactions for posting a video of his wife scolding a man in a moving vehicle for littering the road. He also created some negative sentiment with his “Leave India” comment made to a fan while responding to messages during the launch of his mobile app. He later clarified how his statement was misinterpreted and apologised nonetheless.
But would his brand value vary with his cricket performance graph? “Not really. Kohli, unlike a Sourav Ganguly, is more popular for his individual brilliance rather than being the Captain of the Indian cricket team,” says Sinha. “In Bollywood, consistent box office failures indicate a fading star. In cricket, this could happen once you are no longer consistently included in the squad for matches.”
“Kohli has reached a point where he will be forgiven for an off-day on the field. But with such an aggressive personality, a case of bad behaviour could still go against him; for example, if he is rude or aggressive in his personal life,” Gupta cautions.