Riding on his popularity, Indian cricket team captain Mahindra Singh Dhoni has signed a Rs 29-crore endorsement deal with Maxx Mobile for a period of seven years.
"Maxx believes in Dhoni's potential and the performance that he has delivered over the years is a testimony to his talent. The seven-year deal reaffirms our belief in him and is undoubtedly a big reinforcement for the Maxx brand," Maxx Group CMD Ajjay Agarwal told PTI.
The deal comes within days of Dhoni signing Rs 26-crore deal with the world's second largest spirits firm, UB Group.
Maxx Mobile, one of the recent entrants in India's mobile phone market, has emerged as a force to reckon with after having sold millions of handsets in less than two years. It has already captured over four per cent market share and has set an ambitious target of having 10 per cent market share by March 2012.
Asked about the long periodicity of the deal (seven years), Agarwal said "this has been decided keeping in mind Dhoni's age and potential he has. He is 29 years old and the deal reflects his potential for the Indian cricket."
Dhoni's existing one-year contract with Maxx comes to an end on December 31, 2010. The record-breaking seven-year extension deal takes brand endorsement with cricket stars to a new high and provides Maxx Mobile, one of India's fastest growing brands the right connect with customers across the country.
As part of the deal, Dhoni will be associated with multiple marketing initiatives planned by Maxx Mobile to promote the brand. The deal includes print and television advertising, outdoor campaigns, promotional events and mass engagement programmes across India.
Dhoni is the face of 23 brands and charges over Rs 6 crore per endorsement. The pack of brands endorsed by Dhoni includes Reebok, Aircel, Godrej and TVS Motor.
Agarwal said number seven is a lucky number for Dhoni and incidentally the deal was signed for seven years and on December 7. Dhoni's birthday also falls on 7th.
Maxx Mobile offers more than 45 models for customers to choose from. Maxx Mobile has a pan-India presence and operates through its strong distribution network and a vast network of over 500 service centres, Agarwal said.