12BET India News: Mumbai Indians registers increase in brand value in 2020, says study

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The reigning Indian Premier League (IPL) holder Mumbai Indians registered the highest brand value in last year’s tournament, having enjoyed a 7.1% increase in their brand value, according to global brand valuation agency. The Rohit Sharma-led Mumbai Paltan is the only team among the eight franchises to have registered this increase in the virus-hit season last year

According to Brand Finance’s annual valuation report, Mumbai Indians are now valued at $70.3 million, while all the other franchises saw a decrease in their brand values, with Chennai Super Kings enduring the biggest drop, followed by Rajasthan Royals. The five-time champions are followed by Chennai Super Kings ($ 59.8m) and Kolkata Knight Riders (58.4 million) at the second and third spots, respectively.

Mumbai Indians was also the topscorer 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. Meanwhile, the IPL, as a whole, saw a 22% drop in business value, and now has a valuation of $4.4 billion compared to 2019 when the league saw a 13.5 percent growth, registering a value of $6.8 billion.

“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, Mumbai Indian said in a statement.

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Mumbai Indians headed into the season adding four global brands – Marriott Bonvoy, Colgate, Cadbury Dairy Milk and William Lawson’s, for multi-year deals, in addition to continuing 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.

Last year, Mumbai Indians have successfully defended their Indian Premier League (IPL) title and clinched their fifth trophy after thrashing Delhi Capitals by five wickets in the final in Dubai. Brilliant hostile bowling led by Trent Boult took MI to victory, now the most successful team in IPL history, chased 157 with eight balls to spare as captain Rohit Sharma hit 68.

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