Mumbai Indians soars to newer peaks with highest brand value in IPL 2020
~ Brand Mumbai Indians emerges as the only franchise in IPL to register growth ~
~ Reflecting trust amongst sponsors, Champions grew by 7.1% as per IPL valuation study ~
Mumbai Indians continued its surge as India’s leading sports club on and off the field, registering the highest brand value in the 13th edition of the Indian Premier League. The most successful team in the history of the IPL marked its stronghold in the sponsor market by registering a 7.1% spike in its brand value, according to global brand valuation agency – Brand Finance. The five-time Champions are the only team in IPL to have grown this year valued at USD 70.3 mn, according to the study.
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. This reflects a consistently high brand investment, stakeholder trust and performance of the team. Mumbai Indians was followed by Chennai Super Kings and Kolkata Knight Riders at the 2nd and 3rd spot respectively.
Ever since the inception of the IPL, Mumbai Indians has sustained a growth trajectory clocking a cumulative 69% surge across the 13 editions. This is testament to the trust that the club has earned and established through its continued success on the field in conjunction with strong brand ideology. Furthermore, the appeal of brand Mumbai Indians is not bound by geographical coordinates, which makes it a sought after partner for Indian and international brands with high pedigree, 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 pandemic, Mumbai Indians headed into the season adding four global brands – Marriott Bonvoy, Colgate, Cadbury Dairy Milk and William Lawson’s, for multi-year deals. This was in addition to continuing 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, continuing to be the market leaders among IPL franchises.
In a league, where franchise valuations are driven by star names, Mumbai Indians has continued with a core set of players who form the DNA of the team. The five-time Champions are known to nurture young players rather than focusing on accumulating big-ticket names. The success of the team can be attributed to its three-pillar method of believe, adapt and deliver which has contributed to the immense popularity of the club and was key this season owing to the various challenges.