Chessboard to billboards: Edtech, banks, and IT firms eye Brand Gukesh

Edtech, banks, fintechs and IT firms expected to make a beeline to sign the youngest world chess champion

Indian Grandmaster Gukesh Dommaraju's cataclysmic victory in the World Chess Championship final in Singapore is a watershed moment for chess in the country, with brand equity experts asserting that Indian and global brands will now make a beeline to cash in on his newfound fame.

 

At 18, Gukesh was crowned the youngest World Chess Champion on Thursday, when he defeated reigning champion Ding Liren, in a hard-fought, see-saw battle in the final classical game.

 

Taking forward the legacy of Viswanathan Anand, Gukesh became the second Indian to clinch the coveted title after Anand, who clinched this title five times in his storied career.

 

At present, Gukesh endorses RBL Bank. Going forward, brand experts believe Gukesh’s triumph could elevate the value of chess, a sport seen as cerebral and niche. 

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Not surprisingly, from information technology, education technology apps, coaching classes, banks to fintech companies are joining the frenzy to sign the Chennai lad as the brand ambassador as they typically look to associate with names associated with intellect, poise, and international appeal.

 

“I saw his press conference, his stability and poise, all that put together makes him a wonderful bet for any brand and therefore, it is only going to increase manyfold,” said N Chandramouli, chief executive officer (CEO), TRA Research, told Business Standard.

 

He said his earnings in this competition are minuscule compared to what he will begin to earn now. 

 

Brand experts believe that Gukesh’s age gives him a plethora of opportunities that would significantly bolster his brand value and catapult his global impact.

 

“The problem with chess is that it is seen as too cerebral and not massy (mass-appeal),” said Sandeep Goyal, chairman of Rediffusion, an advertising agency. “But today there are enough IT companies, edtech apps, coaching classes, banks, and fintech brands that may want Gukesh on board.”

 

Harikrishnan Pillai, CEO and co-founder, TheSmallBigIdea, a creative digital marketing agency said this win will have a positive impact on Gukesh as a brand, and hopes that Gukesh has good advisors, especially for global deals. 

ALSO READ: Viswanathan Anand advises Gukesh to embrace criticism as a part of success

 

“With an achievement like this, Gukesh could even be endorsing global brands, but he needs seasoned handlers who look at him as an opportunity that will be cashed over 25 years, not two or five years,” Goyal explained. 

 

RBL Bank, who signed Gukesh as its brand ambassador last month, said the partnership reaffirms the bank’s commitment to nurturing young talent and promoting chess.

 

"I congratulate D Gukesh on his remarkable achievement. It is a moment of pride for the entire nation. Chess is more than a game, it is about strategic thinking, discipline and intelligence. His journey to the top reflects the same spirit of perseverance and strategic thinking that drives us at RBL Bank," R Subramaniakumar, managing director and CEO, RBL Bank said. 

 

 "We aim to learn from the indomitable spirit of Gukesh, the champion, to enhance the financial lives of our customers with the same bold and relentless spirit," Subramaniakumar added.

 

In India, anything other than cricket is not a mass sport. However, the last decade has seen several non-cricket sports persons getting their fair share of limelight.

 

“Whether it is Vishwanathan Anand (chess), Abhinav Bindra (shooting), Leander Paes, Mahesh Bhupathi or Sania Mirza (tennis) some of our great badminton players in the last 10 years or so or Neeraj Chopra (athletics), have seen success in terms of brands signing up,” said Santosh N, managing partner, D and P Advisory.

 

He added that anything non-cricket and non-Bollywood will stay niche and not change in the near future. 

 

“The reasons for the shift is due to other fields getting the visibility it deserves on account of social media, people consuming more content, and more kids getting exposure to various sports and other non-academic fields. The other reason for the increase in demand for these celebrities is that the traditional cricket and Bollywood celebrities are significantly expensive and any new and upcoming brands who cannot afford that are willing to take a bet on these upcoming superstars,” Santosh added.