Owing to the stardom that the celebrities get in their respective professions, endorsers shower fortunes on them to promote their brands and Virat has been ruling the endorsement world for a long time now. After Kohli, the celebrity with the second highest brand valuation in the country is Deepika Padukone, the report says, at $102.5 million.
Cricketer Virat Kohli retained the top spot for the second consecutive year in the celebrity brand valuation rankings released by Duff & Phelps (D&P). "Even as per our analysis of the top 20 celebrities, 16 of them are leading film stars whereas 4 of them are sportspersons", the report says. The total value of the top 20 celebrity brands is at United States dollars 877 million (Rs 6,173 crore).
"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 was quoted as saying.
As per ESP Properties data, over the past decade celebrity-led endorsements increased in number from 650 in 2007 to 1,660 in 2017, representing a steady CAGR of 10 per cent. Besides, Kohli's brand value has also seen an 18 per cent rise at Rs 1,200 crore in the year that just ended.
The rising trend of power couples has also been noticed by the report, as brands target each partner's unique following and voice by tapping into a power couple's reach and impact.
"The coming together of a power couple creates a larger platform that brands want to leverage to target the youth". "Power couple Virat Kohli and Anushka Sharma have endorsed around 40 brands such as Head & Shoulders, Manyavar and Fastrack", the report noted.