After winning the gold medal at the BWF World Championship and becoming the Indian to achieve the title, PV Sindhu’s brand value is expecting to strike gold, according to sports marketing executives.
Sindhu’s annual brand fee is likely to hit double from 1-1.5 crore to 3 crores, said Tuhin Mishra, managing director and co-founder of Baseball Ventures, the company managed Sindhu’s portfolio. Mishra said, Sindhu is currently the No.1 woman athlete in our country and she deserves a certain price because of what she achieved in the last three years.
Sindhu currently has 14 deals in her bag worth around 40 crores. She endorses brands like JBL, Yonex, Moov, Bridgestone, Gatorade, and Bank of Baroda. last February, the Indian shuttler signed a four-year contract worth 50 crores with Chinese sports brand LI-Ning.
Indranil Das, chief executive of Kwan Sports said, he won’t be surprised if PV Sindhu’s brand endorsements increased by 25% in value.
The 24-year-old Indian shuttler ranked 13 in Forbes Highest-Paid Female Athletes 2019 list, with total earnings of $5.5 million which included salaries, prize money, bonuses, endorsements and appearance fees between June 2018 and June 2019.
Although Sindhu is the most successful female athlete in the country her brand value is nowhere near to Indian cricket captain Virat Kohli, who has a net worth of 200 crores. Experts said with the growth of the social media platforms female athletes will have more opportunities in the coming years. PV Sindhu is quite active in social media with over 5 million followers on Facebook, Twitter, and Instagram.
Jigar Rambhia, national director for sports and entertainment partnerships at Wavemaker India said, our country needs sports idols like Sindhu as she is young and connects well with the younger generation through the social media platforms, which is exactly what brands want to leverage.
Shuvro Ghosal, co-founder of the Bridge, a sports website said, Badminton has been gaining popularity in the country over the last few years. He also said PV Sidhu’s gold medal in the World Championship could not have come at a better time. As the Tokyo Olympics is set to start next year, Sindhu’s brand value and marketability will soar quickly and more companies will look to make contracts with her.