Mumbai (Maharashtra) [India], September 14 (ANI): Even as the coronavirus pandemic has seen a direct impact on the sports sponsorship market -- leading to reported 20-25 per cent revenue cuts for Indian Premier League (IPL) franchises -- defending champions Mumbai Indians have carved a niche for themselves to emerge as the premier club sports brand.
According to the marketers following business of sports in India, Mumbai Indians continue to command a premium for their brand's strong market credibility despite the current slowdown. The Duff & Phelps' September 2019 report has rated Mumbai Indians on the top of the chart for the fourth consecutive year with an 8.5% increase in their brand value.
Market analyst feels that the factors contributing to Mumbai Indians success on and off the field are its high core values and a non-controversial status. Mumbai Indians have maintained the highest on-field performance, balanced with non-controversial off-field stature and its star power which attributes to the Mukesh Ambani-owned franchise becoming the most sought-after brand for marketers.
While Mumbai Indians have retained the majority of their brand partners like Samsung, Colors, William Lawson's, Usha, and Jio; the new ones added on the team's roster are Marriott Bonvoy, Colgate and Cadbury Dairy Milk this season. The strong mix of equally established global brands this year has enabled the four-time champions to match their last year's sponsorship revenues.
Mumbai Indians have also retained official partners (no jersey branding) like Kingfisher, Dream 11 and Boat and also attracted new official partners like Make My Trip, BKT Tires, Myntra and Kotak Bank.
Market sources estimate Mumbai Indians have recorded close to INR 90 crore through the team sponsorship values. Mumbai Indians do not sell one of its non-leading arm inventory since its reserved for their CSR cause Reliance Foundation ESA since the last six years.
While Mumbai Indians did not respond to ANI's queries, it is learnt that three off the four new deals this year, Marriott Bonvoy, Astral Pipes and Colgate were closed much in advance keeping the original schedule of IPL in April-May window, with Cadbury Daily Milk signed just a month ahead of the September 19 kick-off date.
Over the years MI has proven to be the preferred sports brand of choice for global marquee brands to associate with and many associations have been a first for them in the field of cricket like Master Card, Bridgestone, SAP, Taiwan Excellence, Etihad Airways, William Lawson and Sharp. Marriott Bonvoy is another extension of the franchise's international appeal. (ANI)