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Hero signs up Tiger Woods for Rs 250 crore
MUMBAI: Marking his big ticket return to the competition, ace golfer Tiger Woods has been signed on as the brand ambassador for Hero MotoCorp in a deal estimated to be worth Rs 250 crore (Rs 2.5 billion).
The four-year deal can be termed as the biggest for an Indian manufacturer in terms of brand association with a global icon. Hero is targeting new markets in North America and Europe.
The announcement comes two days before the start of the PGA event World Challenge, which is hosted by Tiger Woods Foundation and Hero MotoCorp Ltd as the title sponsors.
“We have gone beyond the Hero World Challenge and we will also have Tiger Woods as our corporate partner for the next four years starting from December 1. It is an endorsement deal with Tiger Woods in which he will not only be partnering but also promoting Hero as a brand across the globe,” Hero MotoCorp India MD Pawan Munjal told PTI.
Woods returns to competition this week for the first time since missing out on the PGA Championship in August. He missed over three months in the middle of the 2013-14 seasons, including the Masters and the US Open, after undergoing a micro discectomy in March.
Though the largest two-wheeler manufacturer, Hero is still considered largely as a domestic player. Joining hands with Woods is clearly a move to travel overseas.
“We will be very shortly start to promote the Hero brand with Tiger across the world through all forms of media – print, digital electronic, social media, outdoor etc. I believe this is huge, not just for me or an Indian company, but in general,” Munjal told the Times of India.
Munjal also hinted that the company may sign up other top sports stars including footballers.
Ever since the company’s split with Honda in 2011, Munjal has been working hard to take Hero overseas. The company has already entered markets in Asia, South and Central America and Africa. The company plans to foray into Western Europe next year, and the US and Brazil by 2016.