No, Varun Dhawan is not replacing Ranbir Kapoor as the brand ambassador of a leading snack brand.
According to DNA report, a source was quoted saying, "Varun was never in consideration for this particular potato chips brand. RK renewed his contract with them till 2018, a few months ago for '20 crore, so the rumour might have been spread by VD's brand management team."
"In fact, this brand would never approach Varun because he endorses a fruit juice for their rival. And everyone in the ad world knows that it's an unwritten company policy that one doesn't engage stars who endorses the other's brands," it added.
The source further said, "From 50 lakh two years ago, today Varun charges 2.5-3 crore a year. For the chips ad, RK got 10 crore a year. Also, despite his last couple of films not doing so well at the box-office, Ranbir is India's second-highest paid actor after Aamir, as far as endorsements go.