India has won seven medals at the recently concluded Tokyo Olympics 2020 which is the highest ever so far. Needless to say, a few companies got into moment marketing to promote their brand using the face of the athletes who have won medals. Now, PV Sindhu and Baseline Ventures who has been looking into the marketing aspect of the ace shuttler will be suing 15 companies for the same. As per Baseline Ventures, Sindhu is extremely upset with the way the companies and brands are actually leveraging an opportunity to market their product using Sindhu's name. The ace shuttler won the bronze medal at the Summer Games 2020. Amul Congratulates PV Sindhu For Winning Olympic Bronze Medal At Tokyo 2020 In Latest Topical.
Baseline Ventures will serve notices to the likes of Happydent (Perfetti), Pan Bahar, Eureka Forbes, ICICI Bank, HDFC Bank, Vodafone Idea, MG Motor, UCO Bank, PNB, SBI, Kotak Mahindra Bank, Fino Payments Bank, Bank of Maharashtra, Indian Bank, Wipro Lighting. Yashwanth Biyyala, Director – Talent and Partnerships at Baseline Ventures, wrote on LINKEDIN that this act is quite damaging for a celebrity. But the bigger problem is Olympic Committee (IOC)’s rule 40 stops the shuttler from endorsing any of her partners.
“Brands that are sponsoring Sindhu are unable to put congratulatory post for the athlete due to rule 40 of Olympic charter which says that brands cannot advertise without the consent of IOA (Indian Olympics Association)," he wrote on LinkedIn.
Moment marketing is quite unethical and clearly, no company can use athletes' names or pictures without their consent. Amul has been doing moment marketing for a while now but has never been accused of crossing the line.
(The above story first appeared on LatestLY on Aug 10, 2021 03:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).