India captain Virat Kohli is not only excelling in the field of cricket, but he is also hitting it out of the ground in terms of brand value.
Kohli has topped the list of the most valuable celebrity brand in the country for the second year in a row, with an 18 percent increase in his brand value at USD 170.9 million in 2018, according to a report.
Kohli had endorsements of 24 brands by November 2018, as per reports of global valuation and corporate finance advisors Duff & Phelps, who released its fourth edition of the report on India's most valuable celebrity brands on Thursday.
He is followed by Bollywood actress Deepika Padukone, who jumped a place higher from the last ranking, with a valuation of USD 102.5 million. She endorsed 21 brands as of November 2018.
The top two are the only celebrities with a valuation of over USD 100 million. The total value of the top 20 celebrity brands stands at USD 877 million, with the top 10 contributing more than 75 percent of the total value.
"The celebrity endorsement market in India has matured from vanilla endorsement deals to full-fledged partnerships through innovative routes such as equity deals and 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 and smartphones, among others," Duff & Phelps managing director and Asia Pacific leader for valuation services Varun Gupta said.
Actors Akshay Kumar and Ranveer Singh come in at no. 3 and no. 4 with a valuation of USD 67.3 million and USD 63 million, respectively. Actor Shah Rukh Khan slipped to the fifth place from the second position, with a valuation of USD 60.7 million.
"While Bollywood celebrities dominate the rankings of the top 20 celebrities, sportspersons provide tough competition. Virat Kohli, Sachin Tendulkar, MS Dhoni, and PV Sindhu collectively contributed almost USD 241 million, which is over 27 percent of the cumulative brand value of the top 20 celebrities pegged at USD 877 million," Duff & Phelps managing director Aviral Jain said.
TV ads with celebrity endorsers represented close to 24 percent of the total TV ad spends in 2017, which represents a 5 percent uptick from 2007.
"The coming together of a power couple creates a larger platform that brands want to leverage to target the youth. This year, power couple Virat Kohli and Anushka Sharma have endorsed around 40 brands together such as Head and Shoulders, Manyavar, Pepsi, Celkon, Boost, Audi, Fastrack, Goinee, Wrogn, and Polaroid," it said.
(inputs from moneycontrol.com)