Suresh Raina currently endorses Ceat Tyres, Pureplay (apparel brand) and is expected to sign on Intex, a petroleum brand (he launched Repsol by Gulf Oil last year), and a health care brand.
A few months after that, the Vivo Indian Premier League (IPL) franchise that the two played for - Chennai Super Kings - was suspended for two years.
This meant the teams would be disbanded and the players would be picked up by the two new teams from Gujarat and Pune.
Being a veteran in the cash rich Twenty20 league, Raina was the first to be picked by mobile phone maker Intex Technologies' Gujarat Lions team, and was appointed captain of the new franchise.
With this, Raina came out from under Dhoni's shadow on the field too, and led a strong campaign for the new team in this year's IPL.
Experts believe Raina's time has come. Getting the opportunity to lead a new side, and excelling in it has added another dimension to his persona - that of a leader, and his brand equity has benefited hugely.
Veteran ad film-maker Prahlad Kakkar, says, "He is a fit and good looking cricketer. He has mass appeal and is known among the viewers. With a bit of polishing and sophistication, his brand team should be able to attract a lot of endorsements."
Jagdip Kapoor, chairman and MD, Samsika adds, "If you see the Indian team right now, Dhoni can be considered the 'captain of captains' since many of those who play under his captaincy in the national squad, also lead their teams in the IPL. Everyone has their strengths and Raina is no different. He got a chance to shine as captain, and he took it and made the most of it. He will benefit from the IPL performance."
Raina currently endorses Ceat Tyres, Pureplay (apparel brand) and is expected to sign on Intex, a petroleum brand (he launched Repsol by Gulf Oil last year), and a health care brand.
His team is in conversation with brands in other categories like e-commerce and consumer durables.
IOS MD and CEO, Neerav Tomar says, "We are getting queries from a lot of national brands at the moment and are weighing the possibilities. With his IPL performance, Suresh (Raina) has added another dimension to his personality that the brands value - leadership. His appeal lies with the masses and brands like that in their endorser."
Positioning him as the 'reliable leader', most of the contracts signed by Raina are for two years.
There are some, like Ceat, which is for three years. While the focus is on national brands at present, if the opportunity for a good regional brand comes along, Raina and Co would not mind considering it.
"There are some regional players like real estate brands that could work out. It's work in progress," says Tomar.
He adds that with this development, the scope to increase the endorsement fee has also opened up, bumping it to Rs 1.25-1.75 crore a year.
Raina earlier charged up to Rs 1 crore a year for his endorsement services. This puts him in league with Rohit Sharma, and slightly ahead of Shikhar Dhawan. The only hurdle on the road is that he won't be playing in either of the upcoming series, and so, when he does come back on field, he will need to remain consistent in his on-field performance.
"Visibility is key. Brands will want their endorsers in the news and for good/positive reasons. I am sure his team and the brands will work around this. With some time on his hands, he can actually give time to his endorsement commitments," says a sports manager on the condition of anonymity.
Tomar adds that while, Raina hasn't made any investments so far, the team and the player himself are conscious of the possibilities and will look at investment opportunities in the future. Peers Virat Kohli and Dhoni have already got interests across various ventures from biking to sports teams in the Hero Indian Super League (ISL).
Kohli's business interests lie in the fitness and merchandise areas as well, with an investment in Chisel, a chain of gymnasiums and has an apparel brand by the name Wrogn.
Additionally, he has plans to start a range of merchandise like wrist-bands and sports paraphernalia in the future. Dhoni also dabbled in the gymnasium business, but hasn't been very successful.
He has a stake in the Ranchi team in the Indian Hockey League and Chennaiyan FC football team in the ISL. He also has a range of apparel and footwear under the brand Seven.
"When we do look at ventures for Raina, we have something along the lines of an academy or something to do with education. It's an area close to his heart," adds Tomar.
FEES
Rs 1.25-1.75 crore a year for two to three year long commitments
BRANDS CURRENTLY ENDORSING
Ceat, Pureplay
BRANDS/CATEGORIES EXPECTED TO SIGN HIM
Petroleum, white goods, health care
