The actor in 2018 had as many as 25 brands in his kitty and his brand value of $63 million helped him scale up a notch to rank 4 from 2017
Ranveer Singh-starrer Gully Boy is trending well at the box office with its four-day collection standing at Rs 72.15 crore. Film experts are confident that the film will do Rs 100 crore business in its first seven days.
Gully Boy’s success has consolidated Singh’s position in the superstar league. And this is good news for the actor both in terms of film business and endorsement deals. In fact, experts in the ad world believe that many brands consider Singh as risk-averse when it comes to movie projects.
The actor in 2018 had as many as 25 brands in his kitty and his brand value of $63 million helped him scale up a notch to rank 4 from 2017, according to 2018 Duff & Phelps celebrity brand valuation report.
Talking to Moneycontrol, Vinay Kanchan, brand storyteller and innovation catalyst, said, “Ranveer as a brand epitomizes the unrestrained energy and confident attitude of a young India and I think he does it better than nearly anybody in the industry."
"He has that manic energy which is emblematic of this new generation and he has this ability to take on different guises and get into different roles which again I draw parallels to the young generation,” he added.
It was Singh’s energetic persona for which he was roped in as the Indian ambassador to promote tourism in Switzerland to attract audiences for outdoor adventure activities in the country.
Thums Up associated itself with Ranveer Singh, saying the actor symbolizes youth and thus fits the brand better.
The 2018 report also pointed out that Ranveer was one of the top endorsers in two segments – food and beverages and clothing.
The actor endorses brands like Siyaram’s, Jack and Jones, Rupa Innerwear, Ching’s Desi Chinese and Royal Stag, among others.
While the film industry is betting big on Gully Boy, there are new-age brands that have the same faith in both the star and the film. As many as 10 brands partnered with Gully Boy.
According to Kanchan, these brands tied up with the film because of Ranveer. “It is a risky genre to be in. Rapping is still not mainstream. They are trying to make a mainstream movie. Had anyone else been there, those kind of endorsements would surely not have come. He is the correct fit and brands have got onto it because of him.”
Zomato, Adidas, Truecaller, Kingfisher, KFC, Torex, SunSilk, Hike and restaurant chain Social Offline which designed a menu based on Gully Boy theme associated with Gully Boy.
Cab aggregator Ola went a step ahead and launched a campaign called Gully Gully Ola. Users of the Gully Boy app, first film to launch an app, who could record their voice or rap in it and win prizes could do the same while riding with Ola. And then share their recordings on Ola’s Facebook, Twitter and Instagram page using #GullyGullyOla.
That Gully Boy is Ranveer Singh’s third consecutive hit in 14 months is known. But will the overexposure impact his brand deals? In 2016, media reports said the actor was being overexposed.
“I don’t think it might be a case of over-exposure because his avatars have been completely different,” answered Kanchan.
Other brand experts believe that big hits will be followed by new endorsement deals.
“One thing he epitomizes in terms of role selection is very interesting. In Padmaavat, his character was a highly risky role and this is emblematic of the way the younger generation takes risks without the fear of failure,” he added.
In fact, Singh had entered the endorsement space by associating himself with a condom brand, a first for a mainstream Bollywood actor.
With Gully Boy, it is clear that Ranveer Singh’s talent goes beyond acting and brands are leveraging this. Zomato’s recent ad has Singh rapping.
Kotak Mahindra roped in Ranveer because of the diversity in his roles. For every brand, it is Singh’s national appeal that helps him connect.
And this is probably why his fees which is in the range of Rs 3-4 crore per deal according to media reports is not a problem for the companies.Ranveer Singh will be next seen in 83, which is a biopic based on the life of cricketer Kapil Dev and India’s victory in the 1983 World Cup. The film is likely to hit theatres in April 2019.