Five-time Indian Premier League (IPL) winner Mumbai Indians have yet again re-iterated their global stature as the most valuable sports franchise in India, according to a survey by a global brand valuation company.
As per a recent report by global brand valuation agency Brand Finance, Mumbai Indians is valued at USD 83 million, registering a 4% spike as compared to 2021. Mumbai Indians' Brand Strength Index (BSI) also stands at a strong 70.5 out of 100 with an AA+ brand strength rating.
Year-on-year, Mumbai Indians have continued to increasingly command its appeal amongst Indian and global brands alike. The five-time IPL Champion has always had a strong mix of marquee and global brands on board, including DHL, TeamViewer, and Cadbury Dairy Milk along with young brands like Slice, which is a testament to its Mumbai Indians' strong reach and customer affinity, the IPL franchise informed in a release on Tuesday.
According to Brand Finance, Mumbai Indians have nearly doubled their brand value over the years with a 99% growth since 2009. This reflects the trust and strong brand partner portfolio of the franchise with brands having a high pedigree, which is not restricted to geographies. Its associations have also evolved with like-minded partners with whom Mumbai Indians have stitched long-term partnerships, unlocking maximum value for both brands.
Mumbai Indians have progressively adapted to the evolution in trends on and off the pitch and with digital engagement on the rise over the past two years, the franchise has ensured that it builds stronger fan engagements and activations, which can be co-leveraged by brand partners. Currently, Mumbai Indians have over 32 million fans across its social media platforms, the release claimed.
Notably, Mumbai Indians also emerged as the only brand to have registered growth in 2020, unfazed by market slowdown and apprehensions amongst sponsors globally regarding investment in sports due to the pandemic.