Olympic gold medallist Neeraj Chopra has added another feather in his cap and the country’s by becoming the first sportsperson from India to win a World Championships gold medal in Budapest, Hungary.
His 88.17 m throw made him the first Indian athlete to achieve this feat. And this will not go unnoticed by brands, said marketers.
After his historic win at the Tokyo Olympics in 2021, he had immediately added 6-7 brands, such as Country Delight Naturals, Gillette India, and Mobil India, to his portfolio, noted Aviral Jain, Managing Director, Valuation Advisory Services, Kroll.
"With this mega win (in Budapest), we do expect him to sign up another 4-5 brands soon, taking his brand endorsement portfolio to over 25 brands by the year end," he said.
Chopra had started with four brands in his portfolio before the Tokyo Olympics and the number went up to 14 last year.
Jain added that Chopra had caught the attention of many marquee brands, like Cred, Limca, and Tata AIA, in the last two years, and commands over 20 brands in his repertoire.
Also Read: Neeraj Chopra makes history: First Indian to clinch gold at World Athletics Championships
In the last two years, he is the only athlete whose value has scaled up by 200 percent, said Abhishek Sharma, CEO of Athletes Today, a sports management and licensing firm.
Chopra is a new entrant with a brand value of $26.5 million in the list of the top 25 most valuable celebrities in India.
New brand deals
"Most brands will be looking to have a longer association with Chopra because of the Paris Olympics next year. Plus, he becomes the second Indian to be a world champion and Olympics gold medallist (after Abhinav Bindra in shooting). So, we can expect a mix bag of new brands coming on board," he said.
Many youth of today look up to him as a prime athlete and brands can certainly build around him because of the kind of career trajectory he is currently having, said Sunny Bhandarkar, CEO, Elite Pro Basketball League and Elite Women's Pro Basketball League.
It is Chopra's consistency that makes him an attractive proposition to brands, said Shubham Choudhary, founder of Atlanture Sports and CEO of Real Kabaddi League.
"He is one of the strongest brands in the country, if you keep cricket outside. He is also giving a lot of cricketers a run for their money. He is a perfect candidate for every make-in-India product because of how rooted he is. He is one of the fastest growing sports icons of India, and with that, one of the largest brand pullers," he said.
His consistent on-the-field golden performance and off-the-field calm demeanour has made Chopra a unique endorsement property among the top sporting celebrities, consisting mostly of a cricketing herd, said Jain. "We do expect his brand endorsement fee to strengthen and close the gap with other established sporting celebrities."
Elite company
After Sachin Tendulkar in the 90s, Dhoni in 2000s, and Kohli in 2010s, we have not seen a new sportsperson getting the limelight and Neeraj could be that person till we see another cricketer hogging all the limelight, said Santosh N, managing partner of D & P Advisory.
"There are very few options when it comes to celebrities beyond actors and cricketers in India who resonate with the masses and the classes. Neeraj is right up there among the best in this category. The portfolio of brands that he endorses currently is very impressive. They include sportswear, financial services, FMCG, etc. Some of the new verticals that could be interesting to on-board him are automobiles and clothing," he said.
Social media strength
With brands increasingly targeting the social-media savvy young Gen Z population, celebrities such as Neeraj Chopra have become an obvious choice for them, said Jain. "He can add endorsements for digital platforms and emerging technology-driven businesses to his portfolio."
Also Read: Neeraj Chopra becomes world champion: Full list of historical feats by the Indian athlete
Jain said that Chopra's social media following continues to rise with his follower count touching upwards of 8 million.
"His social media following has seen a massive growth since 2021. Just two years and he has one of the highest engagement rates in India," said Sharma.
Brand Neeraj Chopra also cuts across the people of Indian origin residing all over the world, said Ajimon Francis, Managing Director, Brand Finance India. "The power of having a big social media following works in favour of such athletes who are monetising their social media following like cricketers including Virat Kohli."
He has proved, time and again, that he is not a one-wonder athlete, said Choudhary. "In the last few tournaments, he has proved his mettle, and he is just going to rise. Very soon, he is going to be the most decorated and most followed athlete in India."
Neeraj Chopra's win highlights the importance of investing in grassroots development, training facilities, coaching, and athlete support systems, said Bhandarkar. "We hope that this win will inspire greater investment and attention towards sports in our country.”
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