Cricketers will be brand ambassadors for Addidas products as well as Nike.
Nike has signed the rights to display its swoosh logo on the cricketer's paraphernalia like travel gear, head gear, T-shirts, caps, socks, sunglasses and wristbands making swoosh visible to millions of fans across countries.
The agreement to use Nike logo on cricketer's apparels, has been inked at Rs 196.99 crore by BCCI. It is the first important deal in the cricket domain for Nike.
Besides, Nike will also be able to sell replicas of the team kit in India and abroad.
Sanjay Mehra, General Manager, South Asia, Nike, said a new innovation, the Nike Air Platform, shoes are being offered for an astronomical sum of Rs 9,900.
Indian consumers today are not restricted by prices. They do understand premium segment has innovations and effort put into the product and hence commands a premium price.
Sanjay Gangopadhyay, Marketing Director Nike, said major revenue source still comes from products like entry level shoes, apparel and accessories which are low priced.
Nike is still a global leader with $14 billion in global revenues said Mehra.