Business

Virat Kohli Strikes Rs 100-Crore Deal With Puma

Virat Kohli has become the first Indian sportsperson to sign a Rs 100 crore endorsement deal with a single brand. The Indian cricket captain has struck an eight-year deal with sports lifestyle brand Puma worth about Rs 110 crore. Kohli is now set to join the likes of Jamaican sprinters Usain Bolt and Asafa Powell, and footballers Thierry Henry and Oliver Giroud - among others - as a global ambassador for the brand.

The unusually long eight-year deal - which could go on to cover the 28-year old's remaining career with the Indian team - involves a fixed payment and royalty depending on the brand's business performance.

Kohli will work with the German company to launch a signature line of sports lifestyle products with a special logo and brand identity. Bulk of the endorsement deal, estimated between Rs 12-14 crore annually, is locked up in fixed payout.

"It's a privilege to be part of a great list of athletes that Puma has. Not just today's icons like Usain Bolt but also the brand's rich history with Pele, Maradona, Thierry Henry and others," Kohli said.

"Both Puma and I are committed to a long-term partnership. I am impressed by the way Puma has gained popularity and market leadership in India in a short period of time," he added.

"Virat has transformed the way fitness is looked at in Indian cricket. He has emphasised the role of an athlete and reshaping cricket in the millennial culture, thus endorsing our brand ethos. He is a youth icon with an effortless style," Puma India MD Abhishek Ganguly said.

Puma is expected to work with Kohli in markets like UK, Australia, South Africa and the Middle East and 'wherever cricket is relevant.'