So which of the franchises has emerged as the strongest brand of the Indian Premier League (IPL)? Well, if your guess is going to be any one of the semifinalists, then you are deeply mistaken.
The team that is the strongest brand of this Twenty20 event is the one lying at the bottom of the points-table.
The Kolkata Knight Riders, who had made losing a habit, have been given the top rank by UK’s Intangible Business, a leading brand valuation company, and MTI Consulting, an international strategy consultancy, in their just-released IPL Brand Value Scoreboard 2009, which is the first-ever valuation aimed at measuring the strengths of the eight IPL franchises.
Shah Rukh Khan’s Knight Riders, with a brand value of $22 million, top the Brand Value Table, closely followed by Delhi Daredevils ($19m), Chennai Super Kings ($18m) and Mukesh Ambani’s Mumbai Indians ($17m). Last year’s winners Rajasthan Royals are at the bottom of the table with a value of $10m.
Richard Yoxon, the International Director of the Intangible Business, said, “Winning games is not enough to build a successful sports brand. Teams need to engage the local community, attract star players who inspire a wide audience and develop a strong marketing communications programme.”
Explaining the rationale behind such valuation further, Hilmy Cader, CEO, MTI Consulting, said: “Brand values are a reflection of a brand’s ability to generate future income. It is a study that uses historic performance and future trends to predict future activity.”