"Landep News"
A hundred crore apparently! Obviously Shakespeare wasn’t aware of modern corporate strategies when he first asked that. Hero Honda has invested Rs 100 crore in the restructuring of the brand. On August 9th, the company will reveal the much awaited global brand identity in London.
Although the agreement last year allows Hero group to use the Honda brand till 2014, the two-wheeler major is insistent on acquiring an independent identity as soon as possible to maintain its numero uno rank at the top. Previously in May, the company had hired a Wolff Olins, a brand consultancy firm. The firm was assigned to restructure the logo, brand architecture and image of the company. Later on in May, the company employed Law & Kenneth as the creative partner for devising a new brand positioning and reworking the image of the company. Now that shareholders have approved of the change in branding, a full fledged revamp drive will be backed by a of slew strategic initiatives. The news comes in with Hero Honda posting its highest ever quarterly sales of over 1.5 million units. The two companies had signed a new licensing agreement in March this year. According to the agreement, Hero will pay its Japanese counterpart a sum total of 45 billion yen (about 2450 crore) till 2014. The move is the first important step since Hero decided to go solo after a good 26 year old run with Honda.
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