Mumbai Indians, the champions of IPL 2020, have continued their stellar success off the field as well with registering the highest brand value in the 13th edition of the league. According to global brand valuation agency Brand Finance, the team recorded a 7.1 per cent spike in its brand value in 2020.
Furthermore, this study showed that the five-time winner is the only team in IPL that has grown last year, with being valued at $70.3 million. This comes as no surprise since MI has shown a consistently high brand investment, stakeholder trust, and performance across all editions. Additionally, it was also the top scorer in the Brand Strength Index (BSI) with a score of 76.9 out of 100 and a corresponding AA+ brand strength rating. The findings placed Chennai Super Kings ($59.8M) and Kolkata Knight Riders ($58.4M) at the 2nd and 3rd spot, respectively.
Since the beginning of the Indian Premier League, Mumbai Indians has maintained a consistent growth trajectory with a cumulative 69 per cent surge across the 13 editions. This shows the trust that the club has earned and established through its performance on the field and strong brand ideology.
Along with this steady improvement in brand value, MI’s fanbase across its geographical coordinates makes it a popular partner for renowned Indian and international brands. Even in the unprecedented financial circumstances due to the pandemic, the franchise added global brands such as Marriott Bonvoy, Colgate, Cadbury Dairy Milk and William Lawson’s to their existing partnership roster of Samsung, Colors, Jio and Usha. This impressive mix of international and Indian brands including Dream11, helped the title-holders to match its previous sponsorship revenues, and stay ahead of other franchises.
Commenting on this achievement, a Mumbai Indian spokesperson said, “This year’s IPL has been one of the most successful years for us on and off-the-field and we, at Mumbai Indians, embrace it with a lot of gratitude. We take a lot of pride in how we have nurtured brand Mumbai Indians over the years balancing our core values and ethos and replicating them in our brand-building initiatives. The faith of our brand partners amidst all apprehensions and challenges this season speaks of volumes of the stature of brand Mumbai Indians. We are thankful to all our partners looking ahead with added inspiration.”