Exide Industries Ltd, India's leading manufacturing company in the automotive and industrial storage battery segment, has signed up latest cricket sensation, Mahendra Singh Dhoni, as their brand ambassador.
During his two-year endorsement period with Exide, Dhoni will endorse all major automotive battery brands and product communication through corporate and product campaigns on television, print and outdoor medium.
Commenting on signing up Dhoni, S B Ganguly, Executive Chairman and CEO, Exide Industries, said, "The association with M S Dhoni is in line with our brand stategy and future plans… The power he exudes in his batting and wicket keeping perfectly matches with the image of the Exide brand. As a young upcoming cricketer, Dhoni personifies our brand identity… a superbrand that retains its youthful yet dependable appeal."
With Exide now reportedly focussing on the more lucrative, and at the same time more competitive, replacement market than on the original equipment manufacturer (OEM) business, the company's ad spends are expected to go up significantly.
The automobile industry having trebled in the last two decades, Dhoni as a youth icon is bound to play a major role in strengthening the youth connect for the Exide brand.
In the automotive battery replacement segment, Exide currently enjoys a 35 per cent share of the overall market, while the unorganised sector comprises almost half the market, whereas its share of the OEM market is over 75 per cent.