Gagan Narang’s Bronze may well win him endorsements

02 Aug,2012

By Namrata Singh & Dipti Jain

 

Gagan Narang (File pic: Fotocorp)

Indian shooter Gagan Narang may have won a bronze at the London Olympics, but back home it has assured him of a golden opportunity with respect to brand endorsements. With this win, Narang, who was so far not in the spotlight for endorsements, joins the growing list of noncricket sports personalities whose value of endorsements have got a boost each time they clinched an Olympics medal.

 

After Abhinav Bindra brought home a gold medal in the 2008 Beijing Olympics, endorsement deals worth Rs1 crore are understood to have come his way almost immediately after the win. Given this precedent, Narang, who opened India’s account at the London Olympics on Monday, may well rake anywhere between Rs25 lakh and Rs50 lakh per endorsement , media industry experts told TOI. The endorsement fee of athletes in sports other than cricket is said to be in the Rs10-20 lakh range. So for a nation where cricket is a craze, endorsement values of Rs25-50 lakh for a sport like shooting is certainly laudable.

 

“After the medal win, Narang’s popularity in the brand world will shoot up 100 times. As of now, Narang has hardly been present in the brand world. This win will give him a push into the endorsement market,” said Navin Khemka, managing partner, Zenith Optimedia, a media agency.

 

India’s growing list of noncricket stars used in brand endorsements include boxer Vijender Singh, who won a bronze medal for India in 2008, and Rajyavardhan Singh Rathore, who won a silver medal in 2004 Athens Olympics.

 

“There is a lot more awareness , especially among youngsters and this will help sports like shooting with more endorsements,” said Melroy D’Souza , COO, Professional Management Group, a sports management company that handles Bindra’s brand endorsements.

 

Supratik Roy, director, Affinity Cinemedia, said: “Considering that shooting as a sport does not have as much mass appeal as cricket, the popularity of sportsmen like Narang will remain concentrated on premium and niche categories like luxury, lifestyle, banking services, computers and such others. If the number of wins from India is not too big, Narang has a shot at earning more brand value.”

 

Narang’s newfound glory has already attracted Milagrow HumanTech which, in consultation with Narang, will launch a special edition of TabTop PCs and robots in his honour. While this is not strictly a brand endorsement, 5 per cent of the sales proceeds of the products will go to Narang as part of the special promotion, said Rajeev Karwal, founder & CEO, Milagrow Business & Knowledge Solutions.

 

Samsung, which is a global sponsor for the Olympics 2012, said the win will boost Narang’s image. “Narang is among our Samsung Olympic ‘Ratnas’ and we are sure a lot of brands will want to sign him up after the win,” a Samsung spokesperson said.

 

Source: The Economic Times

Copyright © 2012, Bennett, Coleman & Co. Ltd. All Rights Reserved

 

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