Big Brand: Experts weigh how Panama Papers could affect Big B's brand image

Even as the world reels from revelations of the Panama Papers, that implies hundreds of public figures across the world hiding illegal assets in off-shore accounts and companies, Indian celebrities like Amitabh Bachchan seem to have brushed off their involvement in the scam.

In a statement to the press — made more than 24 hours after the revelation — Amitabh denied his involvement with the shipping companies but said that his name was possibly misused to purport that he was their CEO.

“Monies that I have remitted overseas have been in compliance with law, including remittances through LRS, after paying Indian taxes,” he said.

While his daughter-in-law Aishwarya Rai has already rubbished the charges that have been levelled against her, it remains to be seen how the Big B’s brand will take a hit.

He has so far managed to clear himself off any negative impact from corruption allegations of his Amitabh Bachchan Corporation Ltd., as well as his involvement in the Bofors scandal.

But with the magnitude of the current scam he’s involved in, advertisers say that it could finally have an impact on his brand if he’s found guilty of charges.

Says Amer Jaleel, Chairman, and CCO, Mullen Lintas-Lowe Lintas, that makes ads for companies that Amitabh promotes, “For people, it is difficult to believe if the reasons for the controversy are true or if it is mere mudslinging. The questions will be raised when the accusations or rumours actually stand true like in the case of Maria Sharapova and Tiger Woods. Their contracts can come under question, agencies and brands would think twice before running the campaigns they are a part of, their credibility would reduce... but only when everything is proved and not with just rumours.”

However, public perception of a celebrity also swings with changing tides and it could only be a matter of time before he regains the trust of the people.

“Life is full of little googlies, and the lives of celebrities unfortunately, are no different. They’re loved one second, passionately hated the next. Just like advertising the success of a product is only as good as the product really is. Aamir Khan will find himself another ‘incredible’ initiative to be associated with. Mr Bachchan will continue to be India’s Shahenshah,” explains Bodhisatwa Dasgupta, Senior Creative Director at JWT, who have also worked with Amitabh.

Ameer also believes the same, and adds, “There would be another angle to it as well. It may renew the interest as they are already in the news and their chances of being seen in the advertisement increases.”