Mirabai Chanu’s brand and what a medal at Paris 2024 could mean for the weightlifter

Historically, there have been rare instances when non-cricketing athletes in India have had their fair share of fame. The reasons are manifold. Lack of popularity of individual sports for one. The most glaring one is the fact that the Olympics take place every four years–which is perhaps the only palpable opportunity for athletes to garner worldwide fame, provided they overcome fierce competition and insurmountable odds. That too–as has been happening with many–is transient and fleeting; as the nationalistic fervour recedes with time, so does the athlete’s image from public memory. 

In the last decade or so, things have been changing. India’s fortune at the global stage seems to be ameliorating tardily but gradually, the medal tally of the nation seems to be getting better. Abhinav Bindra opened the floodgates by clinching gold at Beijing 2008. Subsequently, the likes of Mary Kom, Sushil Kumar, Saina Nehwal, Vijay Kumar, and PV Sindhu kept that momentum going with their wins.

A star is born

After India’s lacklustre performance at Rio 2016, the momentum from London 2012  seemed to be derailing. The uncertainty at Tokyo 2020 was assuaged by Saikhom Mirabai Chanu. In the 49 kg weightlifting division, Chanu lifted a total of 202kg, securing India its first medal at the event. She became the first Indian weightlifter to win silver at the Olympics, all the while registering a new Olympic record with a successful lift of 115 kg in clean and jerk.   

A sensation was born. Mirabai Chanu’s story became the talk of the nation. Her origins and her journey all piqued interest. Her struggles became public with the story of how she hitched rides with truck drivers carrying sand becoming widely known. Brands flocked to sign this star. Domino's Pizza India offered her free pizza for life. 

Since then, Mirabai Chanu’s brand value has steadily increased. Her marketability spiked after her Olympic win. Within a month of her success in weightlifting in Japan, Chanu signed a deal as a brand ambassador with Amway for its brand Nutrilite. 

Chanu won a gold medal in the 49 kg category at the Commonwealth Games 2022 held in Birmingham, England. Chanu’s brand value increased exponentially. Her endorsement fee rose by 25-30% as healthcare, steel, cement, insurance, cosmetics, and nutrition companies began reaching out to partner with India’s weightlifting star.

“Winning at any global sports competition naturally has a positive impact on an athlete’s endorsement portfolio and fees, and the case is no different for Mirabai Chanu, especially regarding the Olympics, which are the pinnacle of professional sports,” says Mazhar Gadiwala, Vice President - Sports, Togglehead. 

Attributes that define brand Mirabai Chanu

Since her triumphant silver medal win at the Tokyo Olympics in 2021, Chanu's brand value has experienced a remarkable surge, making her a sought-after name among advertisers and brands. 

“Currently, Mirabai is commanding endorsement fees ranging in mid-seven to eight figures per deal, depending on the category. This is approximately a 25-30% increase from her Pre-Tokyo fees. This surge in her marketability and brand value has attracted a diverse array of top brands like Adidas, Limca Sportz, Britannia, Amway, Amrutanjan, Star Cement and Mobil, indicating her growing appeal,” reveals Rahul Trehan, COO of IOS Sports & Entertainment, the agency that exclusively manages Mirabai Chanu. 

Social media plays a crucial role in shaping an athlete's brand value in the digital age. Mirabai Chanu’s Instagram following, which stands at over 828,000, is a testament to her popularity. This is notable compared to other Indian Olympians, with only a few exceptions like Neeraj Chopra and PV Sindhu having a larger following. 

Gadiwala points out, "Since January 2024, Chanu’s following has reduced by 0.67% and has been gradually declining on a monthly basis. To reverse this trend, winning any medal at the Olympics will almost guarantee her social media growth, thereby enhancing her brand value."

The qualities that Mirabai Chanu brings to the table are central to her brand appeal. Dhruv Jha, Co-Head, Mediabrands Content Studio (MBCS) India, highlights her attributes, saying, "Mirabai is poised to attract even more brands due to her grit and determination to win. She would be an excellent advocate for women’s health and wellness brands, bringing qualities such as perseverance, strength, and an inspiring story to the table."

These qualities make her an ideal representative for brands across various sectors, including fitness, health and wellness, nutrition, and lifestyle products.

The alignment of Mirabai Chanu’s personal brand with the values of the companies she endorses plays a crucial role in the success of these partnerships. Nisha Sampath, Managing Partner, Bright Angles Consulting LLP, emphasises, "She epitomises values of success against odds, strength, resilience, and forging a unique path. Her comeback from injury is an inspirational story. Both as an athlete and as a woman, she would have a fantastic fit with brands that embody these qualities. I could see her partnering with brands across diverse industries like construction, health and wellness, automotive, jewellery, and fashion."

Pointing out her qualities that would attract brands to sign her, Trehan notes, “Her qualities of determination, discipline, and her inspiring journey make her an ideal fit for brands looking to convey messages of empowerment, strength, and overcoming adversity. Also, her persona as a humble and hardworking athlete adds a layer of authenticity that brands value highly in their ambassadors.”

All eyes on Paris

A report by GroupM ESP revealed that the sports industry in India witnessed a surge in 2023, recording a total revenue of INR 15,766 Crores (approx. $1.9 billion USD), marking an 11% incremental value over the previous year. While a majority of this revenue comes from cricket, the report anticipated that the Paris Olympic Games in 2024 would be a significant event for Indian athletes, while also forecasting advancements in technology-driven training programs and the integration of Artificial Intelligence (AI) to enhance athlete performance and fan engagement.

For Paris 2024, India has sent a contingent of 117 athletes in 16 sports disciplines, comprising 70 men and 47 women who will be competing in 69 events for 95 medals. With the government investing significantly in the training of star athletes for the event, the tide of hope remains high for India's performance at the mega event. 

Experts estimate an increase in Mirabai Chanu’s brand value–depending on her performance–post the Olympics. “She is our sole entrant in the 49 kg category and all eyes are on her. Undoubtedly, her brand value will increase and this is the best time for brands to sign her up for a long-term engagement,” remarks Sampath. 

Trehan opines that a win for Chanu at Paris 2024 would make her an even more attractive ambassador, probably at par with some of the top celebrities and cricketers in the country. He says, “Securing back-to-back Olympic medals would cement her status as one of India's all-time great athletes, elevating her profile not just nationally but globally. And, this potential achievement would likely attract a broader range of high-profile endorsements and also increase her leverage in negotiating more lucrative and long-term deals.”

Gadiwala anticipates Paris 2024 to be a lucrative opportunity for brands. “Given India’s increased investment in sports with the aim of winning more summer Olympic medals, brands will be keeping a keen eye on each athlete’s performance. There is a massive opportunity to leverage the popularity of these athletes as they can become the new golden person in the country. This was clearly visible after Neeraj Chopra’s historic gold medal, as his social media following rose by more than 200% within a week of his achievement,” he observes. 

With a promising contingent at Paris 2024, Jha sees a lot of possibilities. He notes, “The Paris Olympics will undoubtedly open a sea of opportunities for Indian athletes, providing them with a global platform to showcase their talents. We have a contingent of 117 athletes across various disciplines, including shooting, archery, boxing, wrestling, weightlifting, javelin, badminton, and hockey. Each of these stars will attract varying levels of brand interest based on their achievements.”

Prospects of non-cricketing athletes

Manu Bhaker secured India’s first medal at Paris 2024. Dhruv Jha says that there is already brand excitement and interest in signing her. 

However, as a sport, cricket still dominates and sways a massive section of the revenue pie. The Olympics present a glimmer of hope for athletes from other sports to change that.  

There is, however, a change in recent years in the popularity of Olympics winners–given the national sentiments being amplified by social media. The influence of Chanu’s success extends beyond her individual brand value, contributing to a larger trend of increasing recognition for non-cricketing athletes in India. Gadiwala observes, "There has been an increase in brand collaborations for non-cricketing athletes, and we can expect this trend to continue depending on the performance of the Indian contingent in Paris." The growing marketability of athletes from various sports disciplines signals a shift in the sports marketing landscape in India, traditionally dominated by cricket.

“A strong performance by Indian athletes at the Paris Games will likely lead to a substantial increase in athletes' marketability and brand values. We have already seen a positive trend post-Tokyo, with athletes from various disciplines garnering significant brand attention. For example, Mirabai Chanu, the legendary Mary Kom, and a few more are receiving decent amounts of attention and compensation,” remarks Trehan. 

Yet still, it would be naive to think that a substantial change would sway the nation of its decades-long cricket obsession. Trehan observes, “Yet, when considering the entire sports industry, non-cricketing sports still represent a very miniscule percentage.”

“If Indian athletes perform well in Paris, it will further enhance their visibility and appeal, leading to more diverse and high-value brand collaborations, showcasing the potential of Olympic and other non-cricketing sports to deliver substantial ROI for brands,” Trehan adds. 

Sharing a realistic assessment, Trehan says, “Hopefully over the next two to three Olympic cycles, we can be at par with cricket, maybe break the cricket-centric sponsorship mould.”

Nisha Sampath thinks that by engaging in long-term partnerships with athletes and being part of their journey to success, brands will have opportunities to build powerful and engaging stories. “It is time that we look beyond cricket, especially since we are getting a surfeit of it today. Olympic athletes represent a fresh territory as brand endorsers. Cricketers are overexposed,” she adds. 

Gadiwala reveals that there has been an increase in brand collaborations for non-cricketing athletes and that we can expect this trend to continue depending on the performance of the Indian contingent in Paris. He however points out, “Cricket still drives the most revenue and visibility, so there is still a long way to go for other sports to receive their due from a monetary standpoint in brand collaborations.” 

Gadiwala points out that a gold medal win for Mirabai Chanu might be an outlier in this case. Similar to Trehan, he believes that a second Olympic medal would be a monumental feat. “While Mirabai Chanu striking gold may be an uphill task given the competition, back-to-back Olympic medals will cement her position as one of the most marketable female athletes in the country,” he concludes. 

As Mirabai Chanu eyes a historic second medal win at the Olympics, her brand value is likely to increase. Combined with her social media presence and the qualities she personifies, brands looking at a long-term engagement could stand to benefit from the athlete’s inspirational journey.