Dhoni to power Coca Cola’s Powerade; signs 3 year endorsement deal

• M S Dhoni signed new deal with Coca Cola; to endorse Powerade
  
• Dhoni’s previous soft drink endorsement was for Pepsi; which ended in 2016
  
• Coca Cola’s Powerade will directly compete with PepsiCo’s Gatorade.
  

Indian cricketer M S Dhoni signed a deal to endorse Coca Cola’s new brand of soft drinks called Powerade. The deal is estimated to be worth ₹150 million over three years according to Economic Times.

The Rhiti Group, manages M.S Dhoni has confirmed the deal but did not comment on details. According to Arun Pandey, the chairman of the firm, “M S Dhoni has signed a mulyi-year endorsement deal with Coca-Cola’s Powerade. He has over 30 brand associations presently.”

Dhoni’s previous soft drink endorsement deal with Pepsi Co ended in 2016. In the 11-year old association, the cricketer endorsed both Pepsi Cola and Lay’s chips. He was also the face of campaigns like ‘Oh Yes Abhi’ and ‘Change The Game’.

Coca Cola has planned a multimedia campaign featuring Dhoni and Powerade. This drink will compete directly with PepsiCo’s Gatorade. Dhoni’s brand value and endorsements had slumped after he retired from test cricket in 2014.

A 2018 celebrity brand valuation report by global valuation and corporate finance advisory firm Duff & Phelps estimated Dhoni's brand value at $26.9 million, twelfth in celebrity brand value. He was the only sportsman in the list, after captain Virat Kohli, in the top dozen.

The 37-year-old’s brand value saw a resurgence in past two years. Industry experts are of the opinion that Dhoni, widely believed to be playing his last World Cup, is a brand that has revived with a different niche.

Dhoni, who captained India in to win the 2011 World Cup, is learnt to charge about ₹50-80 million a year for endorsements.

This year, the cricketer signed endorsement deals with bus-ticketing platform major redBus, and toothpaste brand Colgate.

Last year, he signed more than 10 endorsement deals including Mastercard, BharatMatrimony, German cybersecurity company WardWiz, fantasy sports platform Dream11, Snickers chocolates, online pharmacy Netmeds, domain registrar and web hosting company GoDaddy, luxury watch Panerai, and automotive batteries and solar applications brand LivFast.

He also endorses his own sportswear brand Seven promoted by Rhiti Sports, launched in February 2016, and a chain of gyms by the name of SportsFit World, which he started in 2012.