After Aryan’s arrest, Shahrukh Khan got a big setback, this big brand broke ties, lost crores!!!
After the arrest of his son Aryan Khan in a drug case in Mumbai, new problems have now come in front of Bollywood actor Shahrukh Khan. It is reported that after the arrest of son Aryan, now a big brand has ended its project with SRK. It is reported that in the last few days, the brand has announced to stop the advertisements of Shahrukh Khan even after advance payment. It was one of the biggest projects of SRK. Meanwhile, a news has come that a big brand has ended all their contracts with Shahrukh, giving a big blow to Shahrukh, due to which King Khan has lost crores.
According to the news, even after the company had made advanced payment for the advertisements, they ended all their contract. Let us tell you that this was one of the biggest projects of Shahrukh Khan. According to a report in The Economic Times, people familiar with the matter said that the edtech startup has withdrawn Shah Rukh Khan’s advertisements despite advance bookings, after facing a lot of trolls on social media platforms over the past few days. If we talk about the company, then this company is Byju’s, which had a deal with Shahrukh Khan for Rs 3-4 crore for this advertisement. Let us tell you that Sharukhan Khan was the brand ambassador of this company since 2017 and after his joining the company has also grown a lot.
The company said that all promotions related to Shahrukh have been stopped for the time being. Because the company working in the field of education does not want to appear in the promotion with him in view of the controversy regarding the drug case related to his son. It is not clear whether Byju has decided to drop SRK as the brand ambassador, the source said. ‘These ads were booked in advance – as is the process – so it took some time to stop them all.’ The Bengaluru-based startup, especially in the last two years, has been expanding at a rapid pace in India as well as abroad, apart from making several big-ticket acquisitions such as brick-and-mortar coaching network Aakash Institute.
Byju’s was valued at $16.5 billion in April and is reportedly in talks with investors to raise around $1.5 billion at a valuation of $20-21 billion. According to the IIFL Wealth Hurun India Rich List 2021, the company’s founder Byju Raveendran and family is valued at Rs 24,300 crore. “For Byju’s, they had planned for IPL ads too and now there is a discomfort around that as the tournament moves to its next stage. It’s not clear if they will be able to pull out of all IPL promotions,” another person aware of the matter said.
Shah Rukh Khan has also been associated with online grocer BigBasket, now owned by the Tata Group. A spokesperson of the company said, “BigBasket will not like to validate, deny or comment anything on this.” The company declined to make any additional comments on its association with the Bollywood actor. “Byju’s has benefited immensely from its association with SRK,” Rohit Ohri, group chairman at creative ad agency FCB India, who has worked with various celebrities including SRK and Amitabh Bachchan, said.
“Shah Rukh’s association with the edtech brand has been so intrinsic and so deep, that even if Byju’s is pausing the advertising for now, it will be very difficult for the brand to delink itself from SRK.” According to him, Byju’s is trying to protect its brand amid the current controversy, but celebrity advertising has always come with risks. “In the age of social media, the risk is magnified so much more. Nike, for example, did not drop Tiger Woods, and in fact, did a comeback campaign after the huge controversy surrounding the golfer,” he said.