In the biggest endorsement deal by an Indian company, Hero MotoCorp, the country's largest motorcycle manufacturer, has signed on golf superstar Tiger Woods as its global brand ambassador. The four-year deal valued at more than Rs 200 crore dwarfs all other endorsements by Bollywood and Indian cricket stars by a long margin.
India’s top endorsers, Aamir Khan, Shah Rukh Khan, Mahendra Singh Dhoni and Virat Kohli are believed to get between Rs 10 crore and Rs 15 crore per annum per assignment. A similar four-year deal, thus, would be worth Rs 40-60 crore.
“This deal is not just for the US market but for the Hero brand across the globe,” said Pawan Munjal, managing director and vice chairman, Hero MotoCorp. “Tiger Woods has a tremendous following across the world... It is a natural fit for us.”
"Tiger Woods is still a cult figure in the US and Europe and Hero's association will immediately raise the profile of the brand,” said Dilip Cherian, founder of Perfect Relations.
In February this year, Munjal, a keen amateur golfer, had paid Woods a reported sum of $2.5 million (Rs 15 crore) to play golf in Delhi with a select group of leading industrialists, media house owners and executives.
With total earnings of $61.2 million (Rs 372 crore), Woods is ranked sixth in the Forbes' list of highest paid athletes in the world in 2014. The 38-year-old US golfing legend has won 14 major golf championships, second only to 18-time winner Jack Nicklaus
“This association with Hero MotoCorp is exciting and it allows me to be involved with the world of two-wheelers," said Tiger Woods. "We have a shared vision and I am proud to be working with the entire Hero family. For me, any collaboration and partnership has to be something that’s important to me. I greatly appreciate Hero sponsoring the Hero World Challenge that benefits my foundation, and my new role will greatly expand our worldwide relationship.”
Hero MotoCorp, the world’s largest two-wheeler maker, plans to expand into 50 countries by the end of this decade and plans to have 20 manufacturing units across the globe and a turnover of Rs 60,000 crore.