Indian cricket skipper Virat Kohli has topped the list of the most valuable celebrity brand in the country for the second year in a row, with an 18% increase in his brand value at $170.9 million in 2018, according to a report. The cricketer endorsed 24 brands as of November 2018, the global valuation and corporate finance advisors Duff & Phelps said in its fourth edition of the report on India’s most valuable celebrity brands on Thursday.
The top two are the only celebrities with a valuation of over $100 million. The total value of the top 20 celebrity brands stands at $877 million, with the top 10 contributing more than 75% of the total value. Endorsers such as Virat Kohli and Deepika Padukone have been structuring endorsement deals with an equity element, which in turns helps them maintain a long-term association with the brand and share the upside from the performance of the company, it said.
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 said.