India consumed a massive 770 tonnes of gold last year. But rarely has the yellow metal shone brighter than it did on Monday, when Abhinav Bindra shot his way to glory in Beijing.
The report from the Walther Compressed Air-based Rifle, which costs Rs 1.5 lakh, has just created a new brand icon. Sports management firms predict there will at least three to four brands queuing to sign up Bindra.
With an expected payout of around Rs 1 crore per brand, the CEO of Abhinav Futuristics, a PC peripherals distributor based in Chandigarh, could net Rs 3-4 crores.
His ice-cool demenour could well define a niche for brands to tap into, brand managers say.
Anirban Das Blah, vice president, Globosport India, says, "Brands, which want to showcase their Indian-ness or national pride like a Tata Steel or Maruti, could be interested in him now." But Vineeta Bangard, COO, Percept Talent Management, thinks that it would be Bindra's youth which brands would latch onto.
"He is good looking and speaks well. He is young so he could attract youth-centric products such as, say, clothing apparel, watches and eye-wear."
But the worry for those plonking in money is longevity of recall: whether a niche sport such as shooting can create enough excitement to keep brand Bindra glowing bright even when the hype dies down after a couple of months.
Experts say that this will depend entirely on how Bindra seizes the moment.
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