NEW DELHI/MUMBAI: It took just a few minutes for Jyoti Narain to decide that Sridevi would be the best bet for his new chain of multibrand retail stores, which was rolled out early this month. "In her last Bollywood blockbuster English Vinglish, Sridevi played the role of the new age Indian woman, who can take on new challenges while maintaining her traditional values," says the executive director of Gurgaon-based Wital See Marketing that has launched Wee Stores. Wee is one of the four brand endorsements Sridevi — who last year returned to the silver screen after a break of 15 years — has signed in the last three months.
She is not the only yesteryear Bollywood superstar who is rocking on the brand endorsement circuit. While early this month, Danone Foods & Beverages India roped in Karisma Kapoor, Kellogg's Chocos signed in Juhi Chawla last month. And Madhuri Dixit Nene, who is already endorsing a slew of brands including Oral B and Olay, is all set to sign in two more FMCG brands.
It seems brands, particularly those targeting housewives, mothers and the not-so-young, have fallen in love with Bollywood mommies. "If you want housewives to fall in love with brands, then brands have to fall in love with housewives," says Jagdeep Kapoor, managing director of Samsika Marketing. Mommies are decision makers and influencers. And having Bollywood mommies on board increases the trust factor of the brand, he adds. "Moreover, they are value for money as they don't charge a bomb."
Industry insiders estimate that Kajol charges an endorsement fee of about Rs 2 crore a year, Madhuri Rs 1.5-2 crore, while Sridevi charge s around Rs 1 crore and Karisma around Rs 50-75 lakh. Traditionally brands have made a beeline for young, in-vogue film personalities to be their face but things have changed now, say marketing experts.
"Today marketers and advertisers realise that it's the persona of a brand and the content of the communication that dictates the nature of celebrity to be involved for its promotional endeavors," says Smitha Sarma Ranganathan, a brand communication specialist who teaches marketing management at IBS Bangalore. What makes Bollywood mommies the choice for brands is that they continue to arouse the curiosity of the audience while enjoying credibility in the eyes of audience over the years, she says.
|Sridevi's latest advert still|
By Rajiv Singh & Nandini Raghavendra, ET Bureau | 30 Apr, 2013, 04.01AM IST
From Economic Times