Mumbai: The Rs7,500 crore Godrej Group will soon don a new logo and a marketing slogan in its first brand makeover since it was founded in 1897 to state its consumer positioning. The home-grown corporate group will also sport a brand slogan for the first time ever in its history of more than 110 years.
Fresh look: Godrej Group chairman Adi Godrej says the group slogan, ‘Brighter Living’, implies a modern approach and feel.
The group’s current logo — founder Ardeshir Godrej’s signature in a running hand — is red in colour. This will be replaced with a bright rainbow coloured cursive signature of the founder, said a person close to the development. The slogan of the group will be “Brighter Living”.
The new corporate image will first be unveiled before employees on 17 April at the group’s headquarters in Vikhroli, an eastern Mumbai suburb, said this person.
Refusing to divulge details of the logo, Adi Godrej, the group’s chairman, said: “The new slogan ‘Brighter Living’ implies a modern approach and feel. It is completely based on consumer insights.”
The group will soon launch an advertising campaign with its new logo and slogan. “As a consumer products group, the new campaign will reflect the lifestyle of our consumers,” Godrej added.
According to an executive in a media-buying agency, the company is likely to spend around Rs40-50 crore on the new advertising campaign. He didn’t want to be named because he is not authorized to speak with the media.
Godrej had engaged UK-based brand consultancy Interbrand Corp. to give it a more contemporary and lively look.
“Legacy brands such as Godrej have to constantly reinvent themselves to be relevant to their consumers. They have to position themselves in a way that they are equally aspirational to the next three generations as they are to those (generations) that grew up using the brand,” says Sanjeev Malhotra, director, Alia Creative Consultants Pvt. Ltd, which also consults Godrej Group.
Beginning its journey as a security equipment and soaps company, the Godrej Group has today diversified into a variety of consumer goods and services sectors. Its entry into new businesses has been on the back of the sturdy and trusted Godrej brand.
“It was about time that Godrej undertook this exercise as the brand was getting too dissected. Corporate image is very important for mega heritage brand such as Godrej because all the values can be carried across new lines as well without losing the ethos of heritage, transparency and trust,” said Nabankur Gupta, founder and chief executive officer, Nobby Brand Architects and Strategic Marketing Consultants.
Many companies under the Godrej umbrella have been on an expansion spree. Godrej Consumer Products Ltd (GCPL), for instance, completely revamped brands such as Cinthol soap and Renew hair colour.
It also made four acquisitions in the past two years. GCPL is also raising Rs400 crore through a rights issue.
Another group company, Godrej Properties Ltd, plans to dilute about 10% stake to raise Rs600 crore from the market. Analysts say the corporate makeover could be a precursor to its fund-raising programmes.
“It makes sense to go to the investors with a fresh and smarter look. It’s a good marketing tactic,” said Daljeet Kohli , head of research at Emkay Share and Stock Brokers Ltd. “Godrej might also be seeking to project itself as a global brand by shedding its old brand image,” he added.