Even as Master Blaster Sachin Tendulkar is set to end his cricket innings, Brand Sachin is well poised to start fresh innings, believe brand managers.
Last week, as he revealed to the world his decision to retire from cricket after his 200th Test, brands associated with him went into a tizzy. His endorsement roster consists of nearly 16 brands and is diversified, from banks and insurance products to real estate and luxury watches.
Most brands said they continue to be upbeat about his brand equity. Rakesh Malhotra, Chairman of SAR Group which owns Luminous Water Technologies, said nothing will change after Sachin’s retirement as the brand had a long-time partnership with the company.
Speculation about Tendulkar’s retirement has abounded for several years. Most brands had factored it in while signing deals.
Boost, one of the first brand endorsement deals Tendulkar signed, has stuck to this partnership for 24 years. Last week the company said, “Boost has had an enduring association with Sachin Tendulkar for 24 years … As a sportsperson par excellence he has been an inspiration to aspiring cricketers and kids alike. He aptly embodies the brand’s attributes and continues to be an ideal brand representative. His contribution to the game is indeed invaluable; we are certain that his immense learning and experience will ensure India continues to makes its mark in the world of cricket.”
Added Kavita Sonawala, Country Head – Marketing at Royal Bank of Scotland (India), “Sachin Tendulkar has had a long and successful association with RBS since September 2008 and is an integral part of our brand identity in India.”
Votes of confidence aside, brand experts believe Tendulkar will now need to reposition himself to be able to continue charging a premium. They also believe that his iconic status and experience in the cricket battles can help him lend his name to brands that want to woo more mature audiences – people who have grown up memorising his cricket feats. This would also mean the universe of brands endorsements he is likely to get in the future narrows down.
Indranil Das Blah, Chief Operating Officer of talent management and marketing firm CAA Kwan, said, “Brands leveraging him are likely to show him as an experienced individual off the field rather than on the field. He is also expected to sign deals where his engagement levels will be higher. The number of endorsements he does may come down, enabling him to continue charging a premium.”
Tendulkar’s brand managers at World Sport Group have been toeing this line of strategy for some time now. The company has been managing his commercial interest keeping in mind the longevity and relevance of the categories of products he endorses, and whether they mirror the stage of life he is in. In the past few years he has been signing endorsement deals in categories such as real estate, financial services and insurance, which are not usually targeted at youngsters.
Since 2006, WSG has also been working on his private labels and cause-related endorsement deals which are likely to increase in the future, believe brand experts. Take, for instance, Coca-Cola India, which has been drumming up support through Tendulkar’s charisma for its CSR programme “Support My School”, and Toshiba India, which has been using his name to promote the concept of eco-consciousness among school kids.
In its statement, the Coca-Cola India spokesperson said Tendulkar’s appeal cuts across boundaries, geographies and genres. “We hope that he will continue to espouse the cause of the education of the girl child, like he has done as the face of our Support My School campaign. He is an icon of happiness much like Coca-Cola, and we will continue to look towards him for spreading happiness in the country,” the statement added.
With the intent of carrying Brand Sachin well past his playing days, WSG has also been working with organisations such as the Future Group for a private label called Sach, while Adidas has co-branded products called ST.
Tushar Goculdas,Brand Director, Adidas India, believes Tendulkar will continue to captivate the future generations. The brand, which has had a 16-year-old partnership with him, will be leveraging his final cricketing venture with a spectacular campaign. Most brands that are associated with him are expected to leverage their association to make a grand event of his final cricket match slated for November in Mumbai.
Certain marketers believe his hefty price tag of Rs 5-6 crore per endorsement per year could pose a challenge in the future. Brand experts believe brands could look at renegotiating their contracts. This could also put him within reach of more brands. Marketers are always facing the twin challenge of getting more bang from the buck yet cut through the clutter.
In a country where there is a lack of role models, Tendulkar is larger than life and will continue to appeal to cricket fans for many years.
(This article has been corrected for typographical error.)