Chinese smartphones giants VIVO has surprised its opponents by winning the title sponsorship contract of Indian Premier League (IPL) for the next five years. The deal, which will run from 2018-2022, is a 554% increase from their previous contract.
VIVO, who won the deal in the tenth edition of IPL, bid Rs. 2,199 Crore, overtaking the next best bid by OPPO, who presented Rs. 1430 crores for the same. Now, if you look at difference in amount quoted by both the companies, the difference is huge. VIVO, it seems benefited from their association with IPL in 2017 and decided to take no chance to outbid their opponents OPPO, who are the primary sponsors of Indian Cricket Team.
India is one of the largest markets for smartphone manufactures and there is no better way to target the audience than associating with world’s most watched domestic T20 tournament, IPL.
India is a cricket-crazy nation and there is a festival-like atmosphere in India during the Indian Premier League. VIVO, with this five-year deal, will be the title sponsor of IPL.
This means, VIVO’s name will brandish before the IPL for the next five seasons, starting from IPL 2018 to IPL 2022.
VIVO retains title sponsorship for IPL 2018-22. They bid Rs.2,199 Crores, 554% increase over the previous contract! pic.twitter.com/6D7RXooTvB
— IndianPremierLeague (@IPL) June 27, 2017
VIVO is one of the fastest growing smartphones manufacturing companies in the world. In just three years, they have expanded their market in India and the Southeast Asia region. The think-tank of VIVO is targeting the sports industry with sponsorship deals in the FIFA World Cups in 2018 and 2022 to follow.