Royal Challengers Bangalore emerges as the strongest IPL Brand

April 1, 2010 - PRLog -- UK’s Intangible Business, a world leading brand valuation company, in collaboration with MTI Consulting, a fast growing international strategy consultancy, for the second successive year have released the IPL Brand Value Scoreboard 2010– a pioneering valuation aimed at measuring the strengths of the 8 IPL Franchises .

Royal Challengers Bangalore, with a brand value of $37.8 mn tops the Brand Value Table, very closely followed by Kolkata Knight Riders ($37.7 mn), Delhi Daredevils ($36 mn), Chennai Super Kings ($36 mn) and Mukesh Ambani’s Mumbai Indians at $33 mn. Despite winning last year’s IPL, Hyderabad Deccan Chargers are sixth on the Brand Value Table with a brand value pegged at $32 mn followed by Kings XI Punjab ($32 mn). The winners of the first edition of IPL, Rajasthan Royals are at the bottom of the table with a value of $28 mn. The Royal Challengers have moved up 5 places when compared to last year, to the top spot on the Brand Value Table.

Richard Yoxon, International Director, Intangible Business, believes that “‘The most valuable franchise brands have made the most progress off the field of play showing brand building is not just about winning, it’s about capturing the hearts, minds and wallets of a passionate Indian public.”

Further explaining the rationale and methodology, the CEO of MTI Consulting Hilmy Cader says “brand values are a reflection of a brand’s ability to generate future income. It is a forward looking study that uses historic performance and future trends to predict future activity. Last years’ historical sales data was gathered for each franchise. To determine the strength of the brands, each brand was scored on three measures of brand strength, owner equity, awareness and perception. These attributes are a mixture of hard measures and soft measures of brand strength sourced from publically available information and from a qualitative panel of cricket fans from each test playing nation. Using this data, each brand was then valued using the relief-from-royalty methodology"

The IPL has the foundations to remain as the premier domestic Twenty20 tournament due to the passion of the Indian public for cricket and a population that outstrips all the other test nations combined. While the playing squads would change after the third edition of the tournament and the success could fluctuate over the years, the brand is the constant that unites supporters and is ultimately responsible for driving the long-term commercial sustainability and success of the IPL franchises.

“Revenues generated from last year’s tournament surpassed our expectations and go some way towards justifying the franchise fees that at the outset appeared high. Fees for the two new franchises in excess of $300m show how far the IPL has progressed in a short space of time.” says Hilmy Cader, CEO of MTI Consulting.
For further information on the IPL Brand Valuation please contact MTI Consulting on: (91) 98406 31376 / (973) 3962 3660