Mumbai Indians continued its surge as India’s leading sports club on and off the field, as the franchise registered the highest brand value in Indian Premier League’s 13th edition held in UAE in 2020.
The most successful team in the history of the IPL with 5 trophies besides its name marked its stronghold in the sponsor market by registering a 7.1% increase in its brand value, which is according to global brand valuation agency – Brand Finance. The five-time IPL Champions and eventual winners of IPL 2020 are the only team in IPL to have grown this year valued at USD 70.3 mn, according to the study.
Mumbai Indians Is Only Team To Register Increase In Brand Value
Mumbai Indians’ fifth Indian Premier League crown in UAE late November has given their brand value a further boost – if the 2020 report by a leading brand valuation company is anything to go by. The Rohit Sharma-led Mumbai is the only team among the eight franchises participating to have registered a rise in brand value last season (7.1%) and have been valued at $ 70.3 million, according to the yearly study of Brand Finance.
Mumbai Indians was also the top scorer in the Brand Strength Index (BSI), with a BSI score of 76.9 out of 100 and a corresponding AA+ brand strength rating, as highlighted by the study which reflects a consistently high brand investment, stakeholder trust and performance of the team. Mumbai Indians was followed by 7th placed Chennai Super Kings and 5th placed Kolkata Knight Riders in the points table at the 2nd and 3rd spot respectively.
Mumbai Indians are followed by Chennai Super Kings ($ 59.8m) and Kolkata Knight Riders (58.4 million), Sunrisers Hyderabad ($57.4 million), Delhi Capitals ($52.2 million), Royal Challengers Bangalore ($ 49.7m) and Kings XI Punjab ($ 38m). Rajasthan Royals’ brand value dropped 16 per cent to $36.4 million at the bottom of the table as they finished eighth in IPL 2020 which was the most competitive edition in history.
Mumbai Indians Thankful To Partners Amidst All Apprehensions And Challenges
Ever since the inception of the IPL in 2008, Mumbai Indians has sustained a growth trajectory clocking a cumulative 69% surge across the 13 editions which is testament to the trust that the club has earned and established through its continued success on the field in accordance with strong brand ideology.
Furthermore, the appeal of brand Mumbai Indians makes it a sought after partner for Indian and international brands, which is reflected by the brand brigade that Mumbai Indians has collaborated with over the years.
Mumbai Indians spokesperson said: “This year’s IPL has been one of the most successful years for us on and off-the-field and we, at Mumbai Indians, embrace it with a lot of gratitude. We take a lot of pride in how we have nurtured brand Mumbai Indians over the years balancing our core values and ethos and replicating them in our brand building initiatives.
“The faith of our brand partners amidst all apprehensions and challenges this season speaks of volumes of the stature of brand Mumbai Indians. We are thankful to all our partners looking ahead with added inspiration.”
Unfazed by market slowdown and apprehensions amongst sponsors globally regarding investment in sports due to the Covid-19 pandemic in 2020, Mumbai Indians headed into the fresh season abroad adding four global brands – Marriott Bonvoy, Colgate, Cadbury Dairy Milk and William Lawson’s, for multi-year deals.
The franchise continued the partnership with brands like Samsung, Colors, Jio and Usha. The strong mix of international and Indian brands including Dream11, enabled the title-holders to match its last years’ sponsorship revenues, as the franchise continued to lead the market.
In a league, where franchise valuations are driven by star names, Mumbai Indians has continued with a core set of players like Kieron Pollard, Rohit Sharma, Quinton De Kock, Hardik Pandya, Jasprit Bumrah and Suryakumar Yadav who form the DNA of the team.
The five-time Champions are known to nurture young players like Ishan Kishan, Anukul Roy and Rahul Chahar rather than focusing on acquiring big-ticket names. The success of the team can be attributed to its method of belief, adapt and deliver which has contributed to the immense popularity of the franchise and was key to its success in 2020 despite challenges posed by Covid-19.