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Chennai, Kolkata teams win value gameGrab top slots ahead of Mumbai, Bangalore franchises this year: Brand Finance study
Fans of Chennai Super Kings (CSK) and Kolkata Knight Riders (KKR) teams of the Indian Premier League (IPL) have a reason to celebrate.
These franchises have emerged as the two most-valued teams in IPL’s sixth edition, shows UK-based brand valuation firm Brand Finance’s latest study on the two-month-long Twenty20 cricket tournament. The study values the IPL brand at $3.03 billion (Rs 16,362 crore) this year, four per cent higher than last year’s $2.92 billion (Rs 15,768 crore).
CSK’s brand value has grown marginally to $45.42 million (Rs 245 crore) from $45.28 million (Rs 244.5 crore) last year. But the growth has been enough to push last year’s top ranked franchise, Mumbai Indians (value of $44.62 million, or Rs 241 crore), to the third spot (see chart).
KKR, in contrast, has jumped two notches to the second position, with a brand value of $44.98 (Rs 243 crore). The brand value of the Shah Rukh-Khan-owned franchise has grown 15.2 per cent since last year — the highest by a team —says Brand Finance.
“These franchises have created strong team strategies, resulting in cricketing excellence. They have also focused on wooing their fan base using newer tools of engagement. This has led to value creation,” says Unni Krishnan, global strategy director, Brand Finance.
Rakesh Singh, vice-president (marketing), CSK, says: “For us, CSK is a 365-day brand and not a two-month one. We constantly ask ourselves: How do we keep the brand alive throughout the year?” KKR CEO Venky Mysore adds: “There are two key aspects we keep in mind: What kind of associations we have and how we can establish a fan base. Relentless focus on these has taken us to where we are today.”
Third-ranked Mumbai Indians, interestingly, has seen a drop not only in its position on the league table but also in brand value. The team’s brand value has declined 7.4 per cent since last year — the second-biggest drop after Royal Challengers Bangalore (RCB), the value of which has eroded 8.1 per cent. RCB has slipped from third to fourth on the list, with a brand value of $37.81 (Rs 204.1 crore). An email sent to Mumbai Indians elicited no response till the time of going to press, while RCB’s vice-president (commercial & operations), Russell Adams, declined to comment.
Delhi Daredevils (DD) has retained its fifth position, with a 6.3 per cent growth in brand value, the third-highest increase after KKR and Kings XI Punjab. DD’s brand value stands at $34.22 million (Rs 185 crore) this year. Its marketing head, Hemant Dua, says: “There was a conscious effort to get the brand Daredevils out in our communication and engagement activities. From a logo refresh to offline and online initiatives, the emphasis has been to build an identity.”
Sunrisers Hyderabad, which took over Deccan Chargers this year, stands at sixth, with a brand value of $31.49 million (Rs 170 crore).
Kings XI Punjab and Pune Warriors have switched places this year; while the former is seventh with a brand value of $30.78 million (Rs 166 crore), the latter is eighth with $29.45 million (Rs 159 crore). Mohit Burman, co-owner, Kings XI Punjab says: “Our emphasis on building a good cricket team and having fun while doing so seems to be clicking.”
Fans of Chennai Super Kings (CSK) and Kolkata Knight Riders (KKR) teams of the Indian Premier League (IPL) have a reason to celebrate.
These franchises have emerged as the two most-valued teams in IPL’s sixth edition, shows UK-based brand valuation firm Brand Finance’s latest study on the two-month-long Twenty20 cricket tournament. The study values the IPL brand at $3.03 billion (Rs 16,362 crore) this year, four per cent higher than last year’s $2.92 billion (Rs 15,768 crore).
CSK’s brand value has grown marginally to $45.42 million (Rs 245 crore) from $45.28 million (Rs 244.5 crore) last year. But the growth has been enough to push last year’s top ranked franchise, Mumbai Indians (value of $44.62 million, or Rs 241 crore), to the third spot (see chart).
KKR, in contrast, has jumped two notches to the second position, with a brand value of $44.98 (Rs 243 crore). The brand value of the Shah Rukh-Khan-owned franchise has grown 15.2 per cent since last year — the highest by a team —says Brand Finance.
“These franchises have created strong team strategies, resulting in cricketing excellence. They have also focused on wooing their fan base using newer tools of engagement. This has led to value creation,” says Unni Krishnan, global strategy director, Brand Finance.
Rakesh Singh, vice-president (marketing), CSK, says: “For us, CSK is a 365-day brand and not a two-month one. We constantly ask ourselves: How do we keep the brand alive throughout the year?” KKR CEO Venky Mysore adds: “There are two key aspects we keep in mind: What kind of associations we have and how we can establish a fan base. Relentless focus on these has taken us to where we are today.”
Third-ranked Mumbai Indians, interestingly, has seen a drop not only in its position on the league table but also in brand value. The team’s brand value has declined 7.4 per cent since last year — the second-biggest drop after Royal Challengers Bangalore (RCB), the value of which has eroded 8.1 per cent. RCB has slipped from third to fourth on the list, with a brand value of $37.81 (Rs 204.1 crore). An email sent to Mumbai Indians elicited no response till the time of going to press, while RCB’s vice-president (commercial & operations), Russell Adams, declined to comment.
Delhi Daredevils (DD) has retained its fifth position, with a 6.3 per cent growth in brand value, the third-highest increase after KKR and Kings XI Punjab. DD’s brand value stands at $34.22 million (Rs 185 crore) this year. Its marketing head, Hemant Dua, says: “There was a conscious effort to get the brand Daredevils out in our communication and engagement activities. From a logo refresh to offline and online initiatives, the emphasis has been to build an identity.”
Sunrisers Hyderabad, which took over Deccan Chargers this year, stands at sixth, with a brand value of $31.49 million (Rs 170 crore).
Kings XI Punjab and Pune Warriors have switched places this year; while the former is seventh with a brand value of $30.78 million (Rs 166 crore), the latter is eighth with $29.45 million (Rs 159 crore). Mohit Burman, co-owner, Kings XI Punjab says: “Our emphasis on building a good cricket team and having fun while doing so seems to be clicking.”
