Duff & Phelps, the premier global valuation and corporate finance advisor, has published the third edition of its annual study of celebrity brand values in India.
In the 2017 report titled Rise of the Millennials: India’s Most Valuable Celebrity Brands,Virat Kohli has replaced Shah Rukh Khan as India’s top-ranking celebrity brand.Kohli, along with Deepika Padukone and Ranveer Singh, lead the ascent of the millennials to the top of the rankings.
“For the first time since we began publishing our rankings, Shah Rukh Khan has slipped from the top ranking and been replaced by Virat Kohli. Kohli is now the first choice of brands to engage and attract consumers, fueled by his extraordinary on-field performances and off-field charisma,” said Varun Gupta, Duff & Phelps Managing Director and Region Leader – India, Japan and Southeast Asia.
“In addition to Kohli, other young celebrities such as Alia Bhatt, Varun Dhawan and badminton champion P.V. Sindhu have either risen in the rankings or entered our top15 list, backed by note-worthyperformances in their respective fields and strong endorsement signings over the last year,”Mr. Gupta added.
“While Bollywood celebrities continue to dominate the top 15, sportspersons are providing tough competition as Kohli, Dhoni and Sindhu, collectively valued at US$180million, account for almost a quarter of the total celebrity brand value of the top 15,”said Aviral Jain, Duff & Phelps Director.
The report also highlightsevolving trends in the brand endorsements space, including celebrities endorsing tourism campaigns,backing various sports tournaments/franchises, and launching their own line of merchandise.
Key findings from the report include:
• Overall brand value of the top15 celebrities is US$712 million.
• Virat Kohli tops the list with brand value of US$144million, followed by Shah Rukh Khan (US$106 million), Deepika Padukone (US$93 million), Akshay Kumar (US$47 million) and Ranveer Singh (US$42 million).
• New entrants to the top15 celebrities included Varun Dhawan debuting at number 10 and P.V. Sindhu at number 15.
• Millennials currently endorse 64 percent of the total brands endorsed by the top15 celebrities and constitute 63 percent of the total brand value.
• The top sectors using celebrity brand endorsers included personal care, food and beverages, automobiles, smartphones and clothing.