Neeraj Chopra’s Brand Valuation Set to Climb to ₹330 Crore Following Silver at Paris Olympics 2024
Neeraj Chopra, celebrated as India’s Golden Boy, has further solidified his status as a premier athlete by securing a second Olympic medal at the Paris Olympics 2024. Following his remarkable achievement of winning a gold medal in the previous Olympics, Chopra has now made history as the first Indian track-and-field athlete to earn medals in consecutive Olympic games. As a result of this achievement, there is an increased interest from brands seeking to partner with him for endorsements.
According to a recent report from the Economic Times, citing insights from Kroll, a global financial advisory firm, Neeraj Chopra is expected to experience a substantial increase in brand valuation, potentially rising by 30-40%. This surge is projected to elevate his brand valuation to approximately $40 million (₹330 crore), compared to an earlier valuation of around $29.6 million before the Paris Olympics.
In addition to Chopra’s success, other Indian athletes who participated in the Paris Olympics have also witnessed an upsurge in their brand appeal. Notably, wrestler Vinesh Phogat, despite facing disqualification due to a weight issue, has attracted significant attention from advertisers. Following the Olympics, her endorsement fees have seen a remarkable jump from ₹25 lakh to ₹1 crore per deal annually, with more than fifteen brands reaching out to engage her for promotional campaigns.
Moreover, shooter Manu Bhaker has made headlines for becoming the first Indian woman in Independent India to win two medals in a single edition of the Olympic Games. Her impressive performance has led to a dramatic increase in her endorsement fee, rising from ₹25 lakh to ₹1.5 crore per year for brand collaborations.
The enthusiasm surrounding the achievements of these athletes at the Paris Olympics has created a rush among brands across various industries—including packaged foods, health and nutrition, jewelry, banking, and education—to secure endorsement deals with them. This trend highlights the growing recognition of athletes as valuable brand ambassadors in the Indian market.
In conclusion, Neeraj Chopra’s recent Olympic triumph, along with the notable performances of Vinesh Phogat and Manu Bhaker, has not only elevated their personal market value but also sparked keen interest from numerous brands, underscoring the significance of sports achievements in driving brand endorsements and economic value for athletes.
For ongoing updates related to business, sports, and breaking news, readers are encouraged to explore Live Mint’s comprehensive coverage through their official app.
Post Comment