Partnering with Gukesh: What brands must consider before an endorsement deal

New Delhi: Gukesh Dommaraju, the reigning World Chess Champion, has been making waves across the internet. He is nothing short of a celebrity, as there were more than 1.5 lakh people watching his game live on the YouTube channel ChessBase India. 

Dommaraju's rising fame is attracting brands eager to capitalise on his hard work, much like moths drawn to a flame.

According to industry sources close to BestMediaInfo.com, the average sponsorship deal for a reigning World Chess Champion like Dommaraju could range from Rs 50 lakhs to Rs 1.5 crore annually. 

“Brands might also enhance these endorsements by offering performance bonuses or international exposure components. Digital campaigns or short-term engagements could have an average ticket size ranging from Rs 15 lakhs to Rs 30 lakhs. Nonetheless, his sponsorship values could skyrocket due to his growing international appeal and association with premium sectors,” the source said.

Why Gukesh?

Achieving rapid fame is one thing, but sustaining it is another. For someone to attract brand endorsements, brands should see them as being relevant in the upcoming years. Sure, Dommaraju’s win has made him an overnight sensation, but brands need more than that to endorse someone.

So, the question that arises is, why should brands even invest in the Chess Champion considering chess is still a niche sport?

Answering the question, Delphin Varghese, co-founder and Chief Revenue Officer of AdCounty Media, said, “Investing in Gukesh Dommaraju as a chess champion allows brands to reach out to a new niche market that is expected to grow over the years. The sport of chess has gained a lot of traction on the international scale, especially after COVID-19, because of many online platforms such as chess.com and streaming sites. It is not limited to the normal demographic of players; rather, it appeals to the millennials, Gen Z, and professionals who seek strategy and intellect. Gukesh is the World Chess Champion, and as such, he represents the pinnacle of achievement and success, focus, and hard work—virtues that cut across boards. 

This involvement further boosts brand credibility as it also places them in a storyline of exceptional intelligence and accomplishment worldwide. In countries like India, where chess is easily gaining traction, the potential of an early partnership with Gukesh can set brand image within and truly undiscovered yet lucrative sporting category. He reaches beyond just sports, as he is seen as part of the youth and international recognition, which makes him a valuable asset to brands willing to cut through the noise and be innovative.”

Is he a good fit?

In a market flooded with brand ambassadors, cutting through the clutter is essential for any brand to stand out. How can Dommaraju help your brand shine?

Weighing in on the response, Anirban Mozumdar, an independent brand consultant, said, “In today's market, brands need to evaluate emerging trends and catch them early rather than joining the bandwagon later. Investing in strategic associations, especially where there is synergy with chess, can be beneficial. Chess is a mental and differentiated sport, similar to how TCS has taken over marathons or HCL Tech associates with the English Premier League.

The fit between the brand and the product is less important than the overall brand fit. While obvious choices like milk food drinks targeting teens are relevant, technology, computing, investing, and even watches are interesting possibilities. Chess, with its focus on time and teamwork, offers unique narratives for brands that partner with consumers to achieve their goals.” 

According to Hamsini Shivakumar, Founder, Leapfrog Strategy Consulting, chess champions are gaining mass popularity more than chess as a game per se. She added, "They are gaining mass popularity as they are making India proud on the global stage. They are young and hail from middle-class backgrounds."

Shivakumar believes that brands that sell products in the area of mental sharpness, memory, focus and concentration, as well as brands that want to connect themselves with aspirational values such as tenacity, resilience, etc., would find it relevant to sponsor young chess champions and chess tournaments.

Supplementing Mozumdar’s thoughts, Piali Dasgupta Surendran, Fractional CMO and Brand Advisor, said, “Gukesh's humility, which was demonstrated after he wrapped up the game and has been widely appreciated and acknowledged by people, coupled with his outstanding talent, makes him an ideal fit for brands that are all about inspiring people. 

If one were to look at the 12 brand archetypes by Carl Jung, the brands that would align most with Gukesh's personality and values are the creator and outlaw brands. Creator, because as the youngest world chess champion, he has created history. and Outlier, because despite hailing from a family of doctors, Gukesh dropped out of school in the fourth standard and pursued his passion.”

Something to consider

Vishwanathan Anand has endorsed only a few brands due to the mentally demanding nature of chess, which requires Grandmasters to focus on their practice. His endorsements include NIIT, WWF, and Fincare Small Finance Bank. 

Given the limited time chess players have for endorsements, brands interested in working with rising star Gukesh should act quickly. His growing popularity and limited availability make him a valuable asset for strategic brand partnerships.

Sharing her thoughts on the subject, Surendran said, “Vishwanathan Anand belongs to a different generation, with a different paradigm. It may not be prudent to draw parallels with him when it comes to Gukesh. For a lot of personalities, brand deals are not just about time and money. It is also about the idea and the storytelling.

Gukesh is a genius of sorts and remains the third youngest grandmaster in the world. He would be a great personality for brands looking to work with someone who is unexplored, unexposed, and introduces a fresh face to the world of advertising, which often falls back on the usual suspects.”

Adding to Surendran’s words, Mozumdar said, “Brand deals can be worked out as long as Gukesh is clear and has the right people advising him. Cricketers are the busiest, yet schedules do get resolved around them. The key question is whether Gukesh would want to continue to concentrate on the sport rather than get too distracted by endorsements. 

He has a long way to go in chess itself and probably would like to be selective rather than have the endorsement hustle take over. Many have risen like a comet and have been merely the shooting star.”

To wrap it up, Nisha Sampath, Managing Partner at Bright Angles Consulting LLP, said, “Chess has captured the imagination of youngsters in the South. At least brands with regional presence in South markets can consider a chess champion as an endorser. Archetypally, chess players and the game of chess represent a sage archetype. It stands for the quest for wisdom and knowledge.

Any brands that fall in this space, such as finance, pharma, or education, can benefit from the association with a 'sage archetype' endorser. So can brands that stand for the resurgence of pride in Indian success.”