Virat Kohli Leaving Puma To Join Agilitas Sports As Brand Ambassador? Check Out India Cricketer's Net Worth, Endorsement Fee, Brand Value In 2023

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In a significant development in the world of sports endorsements, Indian cricket icon Virat Kohli is reportedly on the brink of terminating his long-standing partnership with German apparel brand, Puma.

According to a report by CNBC-TV18, Kohli, who has been associated with the sports and athleisure brand for nearly eight years, is poised to bid farewell to Puma India, marking the end of an era in brand collaboration.

Kohli's affiliation with Puma India dates back to 2017 when the brand inked a monumental deal with the cricketing maestro, amounting to a staggering Rs 110 crore. Kohli's clothing brand, One8, entered into an exclusive licensing agreement with Puma, responsible for overseeing product development, manufacturing, distribution networks, and marketing.

This landmark agreement positioned Kohli as the first Indian sportsperson to secure a brand endorsement deal exceeding Rs 100 crore, catapulting him into the echelons of sports marketing history. A significant portion of the deal comprised an annual fixed payout ranging between Rs 12 to 14 crore, highlighting the magnitude of Kohli's endorsement prowess.

What is Agilitas Sports?

However, the winds of change seem to be blowing as Kohli gears up to embark on a new chapter in his brand ambassadorial journey. Reports suggest that the cricketing virtuoso is poised to join forces with Agilitas Sports Pvt Ltd, an emerging sportswear and athleisure brand spearheaded by former Puma India Managing Director, Abhishek Ganguly.

Founded in May 2023, Agilitas Sports has been making waves in the industry, buoyed by a recent infusion of funds totalling Rs 100 crore from Nexus Venture Partners and an additional Rs 400 crore from Convergent Finance LLP, among others.

Kohli's potential transition to Agilitas Sports marks a strategic move for both parties, promising to redefine the landscape of sports endorsements in India. With his unparalleled stature in the world of cricket and his track record of brand success, Kohli is poised to lend his star power to propel Agilitas Sports to new heights of prominence and market dominance.

Puma India Official Statement

Puma India, meanwhile, released an official statement on the floating news to cull the rumours. An official statement from Karthik Balagopalan, Managing Director of PUMA India said, "PUMA's relationship with Virat Kohli is long-standing and continues."

Virat Kohli Brand Value Rankings

This development comes against the backdrop of a shifting dynamic in the realm of celebrity brand valuation. While Kohli had reigned supreme atop celebrity brand value rankings for five consecutive years until 2021, his ascent was disrupted by Bollywood star Ranveer Singh in 2022.

According to Kroll's Celebrity Brand Valuation Report 2022, Kohli's brand value experienced a marginal decline from $185.7 million in 2021 to $176.9 million in 2022. Factors such as fluctuating on-field performance and sporadic appearances in the Indian cricket team contributed to this downturn, as highlighted by Aviral Jain, Managing Director of Valuation Advisory Services at Kroll.

Virat Kohli Brand Value in 2023

As per Economic Times India and GQ report, Kohli's wealth is bolstered by a slew of lucrative endorsement deals with prominent brands like Audi, Hero, Puma, and Valvoline, according to Forbes. His net worth is estimated to range between US$122 million and US$126 million.

Virat Kohli Ventures and Brand Endorsement Fee

In addition to his endorsements, the cricketer has diversified his investment portfolio by venturing into various business ventures. He owns a restaurant in Delhi and has invested in several startups such as Blue Tribe, Universal Sportsbiz, MPL, and Sports Convo, among others.

Renowned for his association with leading brands, Kohli reportedly commands a fee ranging between Rs 7.50 to Rs 10 crore for each brand endorsement. Furthermore, Kohli's social media presence contributes significantly to his earnings, with reports indicating that he earns nearly Rs 11.5 crore for each Instagram post and Rs 2.5 crore for every tweet on Twitter.

Virat Kohli Properties and IPL Salary

Apart from his cricketing and social media endeavours, Kohli boasts valuable assets, including residential properties worth approximately Rs 80 crore in Gurugram and Rs 34 crore in Mumbai.

Despite his immense popularity and success in the cash-rich Indian Premier League (IPL), Kohli has never been part of any IPL auction. He was initially signed by Royal Challengers Bangalore (RCB) for a mere Rs 12 lakh during the inaugural season in 2008.

Over the years, his salary steadily increased, reaching Rs 15 crore after being retained by the franchise ahead of the 2022 mega auction. Kohli has also expanded his business interests into other sports ventures, holding shares in the Indian Super League club FC Goa, a tennis club, and a Pro Wrestling team.