As many as 23 brands who are associated with Deepika Padukone including Tanishq, Tetley Green Tea, L'Oreal Paris have so far not snapped ties with her.
Deepika Padukone’s visit to Jawaharlal University (JNU) to show solidarity with students who were attacked by a mob on January 5 has started many discussions, one of them being the impact of the move on her brand value.
While many brand experts say that her stand on JNU could lead to loss of brands, the scenario could be otherwise.
According to Vinay Kanchan, brand storyteller and innovation catalyst and author of Sportivity, “While everything a celebrity does affects their brand value, it is important to remember that most of these things are blips. So, they do not have long-term impact on brand value of a celebrity who has a very strong brand equity like Deepika Padukone.”
“I believe these things are topical. So, once the furore over this dies, it will be forgotten. Public memory is extremely short. Hence, her hardcore fans will stick with her,” he added.
And looks like Deepika’s fans are sticking with her as her recent offering Chapaak despite all the controversy is performing well at the box office.
A medium-size film, reportedly with a budget of Rs 35 crore to Rs 40 crore, Chapaak, which released on January 10, has so far collected revenues to the tune of Rs 19 crore in three days.
Speaking to Moneycontrol, film trade analyst Atul Mohan said, “Success of a film determines the brand value and association with the star in the long run. Chapaak was made and promoted as a mid-size movie and not as a commercial movie. It is offbeat and meaningful cinema.”
Trade experts say that the film is doing well in multiplexes or urban sectors. The film’s subject is such that it will attract a niche audience and is not for masses or single screens. The movie, which is based on the life of an acid attack survivor, will not qualify as a big-screen entertainment for many. Yet, the film is holding ground.
In fact, Kanchan pointed out that Deepika is someone who speaks to the young, modern, urban population. “There is an urban skew to her the way she conducts herself. She is social media savvy and a woman of the new era. So, a lot of younger people even if they disagree with her would appreciate the fact that at least she showed the guts to go and act,” he said.
Plus, he is of the opinion that one aspect in the brand equity that is exceedingly becoming very important is authenticity.
“It is high time that celebrities took stands in India. If there is one thing the younger people will look up to is authenticity. These people are playing roles where everything is scripted for them. There are few moments where you see the real person and what that person stands for,” he added.
Hence, Kanchan felt that many of Deepika’s brands will stick with her. “Most of the brands are new age brands. Unless the issue is blown out of proportion, I don’t see it affecting her,” he said.
And so far, none of the brands that Deepika is associated with has snapped ties with her. Padukone, who is the face of several brands, including Tanishq, Tetley Green Tea, L'Oreal Paris, as well as her own fashion brand All About You, currently has around 23 brands in her portfolio.
In fact, Kanchan believes that people who were not considering her, might now take notice now that she is taking a stance. “There is a new breed of entrepreneurs who do not mind taking on a bit of controversy. And there might be such brands who would discover Deepika,” said Kanchan.
He also thinks brands should always take stances. “The more polarizing your stance is, the stronger you are as a brand. Getting into controversy in many ways adds to the brand value,” he said.
This is similar to how controversies around stars or films actually benefits the movie’s business.
Plus, Deepika is no small name both at the box office or in the endorsement space.
It was Padukone who was the only female celebrity at rank four in the Forbes India celebrity 2018 top 10 list with earnings to the tune of Rs 112 crore.In 2019, the star managed to stay in the top 10 without any releases, and earned Rs 48 crore.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.