Athletic leap in deals: Brands race to bask in Olympic limelight, Phogat, medallists endorsement value rockets
Vinesh Phogat’s dream of winning an Olympics medal was shattered for being a mere 100 gm overweight, at least 15 brands have queued up to sign her on. There is a rush to make the Indian wrestler — and other Indian athletes who stood out at the recent Paris Games — the face of brands across categories such as packaged foods, health, nutrition, jewellery, banking and education, executives in the know said. Phogat’s endorsement fee is up to `1 crore per deal per year, from Rs 25 lakh before the games, they said.
Chopra, Bhaker Also Gain
“Marketers are approaching us, citing not only her performance but the grace with which she conducted herself, despite being defeated by the system,” said Tuhin Mishra, cofounder of Baseline Ventures that represents the wrestler.
Despite not winning a medal, Phogat, who endorsed Nike sportswear and Country Delight dairy before the start of the Olympics, was clearly one of the standout Indian athletes, along with javelin throw silver medallist Neeraj Chopra and shooter Manu Bhaker, who won two bronze medals.
Name of the game
Chopra’s brand valuation is set to surge by 30-40%, to top $40 million, or about Rs 330 crore, the highest for a non-cricket athlete in India, according to global financial advisory firm Kroll that provides valuation services.
Until 2023, Chopra’s brand value stood at $29.6 million, according to Kroll data. Bhaker, who has been signed up for Rs 1.5 crore for a one-year endorsement deal with ThumsUp, has seen her fee surge hugely, from Rs 25 lakh per deal per year.
