Indian Cricket Team Captain, Virat Kohli top the list of the most valuable celebrity brand in the country for the second year in a row at $170.9 million in 2018.
According to Global valuation & corporate finance advisors Duff & Phelps said in its fourth edition of the report on India’s most valuable celebrity brands on Thursday, having endorsed 24 brands as of November 2018, Virat Kohli takes the first spot with an 18% increase in his brand value.
Followed by Deepika Padukone, who jumped a place higher from last year and stands at a valuation of $120.5 million and has endorsed 21 brands as of November 2018.
Duff & Phelps’ Managing Director and Asia-Pacific leader for valuation services, Varun Gupta said, “The celebrity endorsement market in India has matured from vanilla endorsement deals to full-fledged partnerships through innovative routes such as equity deals & strategic partnerships. Millennial celebrities continue to be the first choice for brand endorsements as companies want to have a greater focus on the youth segment fuelled by demand in sectors such as e-commerce, retail, FMCG & smartphones among others.”
As per the ESP properties data, the number of celebrity-led endorsements has increased from 650 to 1660 in the last decade, reflecting a steady CAGR of 10%. Further, TV ads expenditure on celebrities has gone up from Rs. 1550 crores to Rs. 6660 crores at a CAGR of 16.1% over the last decade. TV ads with celebrity endorsers showed almost 24% of the total TV ad expenditure in 2017, showing a 5% uprise from 2007.
The report also showed a growing interest in the trend of power couples. “The companies are trying to leverage the youth by bringing together power couples to create a larger platform. This year, the power couple of Virat Kohli and Anushka Sharma has endorsed around 40 brands together such as Head & Shoulders, Gionee, Manyavar, Pepsi, Boost, Adi, Wrong & Polaroid,” it said.
Bollywood Actors Akshay Kumar & Ranveer Singh too improved their rankings by a place to occupy the third and fourth spot respectively, while Superstar Shah Rukh Khan slipped to the fifth from the second spot.