The World Sports Group (WSG), which manages the player's account, however is not necessarily looking to hike his fees but would rather increase the number of brands he endorses.
"I am personally not looking to increase the fee per endorsement but definitely hope to increase the portfolio of 6 brands that he (Gambhir) is currently the face of," WSG Senior Vice-President (South Asia) Harish Krishnamachar told PTI.
He, however, said that in case of some competitive product categories, Gambhir will attract a premium. Krishnamachar did not disclose Gambhir's endorsement value, but said he is one of the top five cricketers in India in terms of brand equity.
As per industry estimates Gambhir charges upwards of Rs 2 crore per endorsement a year. His current portfolio includes includes Royal Stag and Beverly Hills Polo Club.
Gambhir was bought by Kolkata Knight Riders for the mind -boggling sum, beating the previous high set by the English duo of Kevin Pietersen and Andrew Flintoff (USD 1.55 million) last season, in a tense bidding war on Saturday.
As a captain and member of Delhi Daredevils in the last season, Gambhir had also endorsed Jetking, Muthoot and Panasonic. After his new association with KKR, these deals would come to an end, Krishnamachar added.