In a shocking news, German sportswear brand Adidas has decided not to renew its contract with Indian cricket team’s captain Virat Kohli.
Adidas has not renewed its endorsement contract with Virat Kohli. The contract was signed worth Rs 30 crore in early 2014 and was up for renewal last month.
Adidas will, however, continue the brand’s association with cricket through its assets and sporting gear.
This news has come just one day after the Indian captain signed a deal with smart phone company Gionee which aims to establish 500 brand stores in India by March 2018.
Brand Virat Kohli is one of the biggest celebrity brands in the country today. At present Kohli endorses 17 brands. Tissot, Manyavar, Punjab National Bank, and MRF Tyres are just some of the popular brands endorsed by the Indian skipper.