Olympians Surge in Brand Value After Paris 2024 Success
India’s Olympic stars Neeraj Chopra, Vinesh Phogat, and Manu Bhaker see dramatic brand value increases after stellar performances at Paris Olympics 2024
Sumit Rawat
After a remarkable performance at the Paris Olympics 2024, India's star athletes, including Neeraj Chopra, Vinesh Phogat, and Manu Bhaker, have seen a significant boost in their brand value. Their on-field successes have caught the eye of marketers, leading to increased endorsement opportunities.
Neeraj Chopra, who won a silver medal, witnessed his brand value jump from $29.6 million to $40 million. Experts attribute this increase to his consistent wins and his association with positive causes, which have made him more appealing to brands.
Manu Bhaker, who made history by winning two medals in a single edition, saw her brand value soar from Rs 25 lakhs to Rs 1.5 crore. Recently, she was featured in a KFC Rolls brand collaboration on social media, reflecting her rising popularity.
Vinesh Phogat’s brand value saw an even more dramatic rise. Despite a disqualification incident, her brand value quadrupled from Rs 25 lakhs to Rs 1 crore. Tuhin Mishra, Managing Director and Co-Founder of Baseline Ventures, which manages Phogat, commented on her resilience, saying, “Phogat has come out victorious, representing strength and hope.”
Mishra highlighted that Phogat’s endorsement fees have increased significantly, especially in categories that emphasize strength and power, such as cement, iron, steel, education, and audio wearables. Neerav Tomar, Managing Director & CEO of IOS Sports & Entertainment, noted the "moment marketing" opportunity around Phogat's story, though he suggested her endorsement appeal might be shorter-lived compared to Chopra’s.
The debate over whether Olympic athletes can surpass cricketers in brand endorsements continues. While Olympic stars enjoy a surge in endorsements post-Olympics, their demand tends to fade, unlike cricketers who maintain visibility even after retirement. Rohit Ohri, Partner at FCB Global, pointed out that in India, cricketers are celebrated for their style and charisma, while Olympic athletes are often valued for their grit and determination. The choice of endorsers ultimately depends on a brand's creative needs.
