A Part of the WPP Group and one of the World’s Leading Branding and Design Consultancies with clients like Microsoft, Vodafone, Dell, P&G and Nokia, among others, the London-based FITCH has just started its India journey. In an exclusive conversation with MONA MEHTA of B&E, FITCH’s South Asia managing director David Blair Explains why the Indian Banking players are suddenly Opening up to modern design and look when it comes to brand transformation
B&E: You mention Dhanlaxmi Bank has just roped in Fitch to roll out a new brand identity and retail design. What is it that the private sector bank is looking at with this latest move?
David Blair (DB): Though Dhanlaxmi Bank is an established name, the new leadership wants to communicate an up-to-date approach to banking. An approach that encourages an open relationship between the client and the bank, where banking is demystified and made easier, and as such becomes more in tune with the demands of a new and often younger audience. While the modern design of the bank’s branch offices reflects this new approach, the brand name & logo continue to communicate the values of trust & reliability that it has built over 80 years of experience.
Globally, the banking industry faced a slowdown in the last two fiscals. Did the global meltdown have an impact on the financials of Fitch as well, in terms of providing design consultancy to banks globally? Further, how has the company battled with the slowdown?
DB: Like all other global consultancies, Fitch too was affected by the recent slowdown. However, Fitch, like many of its banking clients which include Dhanlaxmi Bank, HSBC and Citibank, has come out well through the crisis and is now in a very good shape. In fact, we are back in action and ready to work for clients across all industries, and not just the banking sector.
B&E: But do you plan to tie-up with other local banks as well or would you expand beyond that sector?
DB: We are certainly looking forward to a strong presence in the Indian subcontinent, be it the banking industry or any other sector for that matter.
B&E: Give us some examples. We’re told Fitch has provided design consultancy to several big Indian retailers including Reliance, ADA, Tata group in the past. How has the new branding execution benefited these players?
DB: Some of our clients come to us to redesign existing brands and formats, like Westside and Landmark for Tata Trent. Some to create brand extensions, like Zoya for Tanishq (the Titan owned jewellery brand), and some to create entirely new brands, like the iconic stationary brand, P3, we created for Bilt. Majority of the time, this results directly in an increase in customer base and revenues. For instance, when we redesigned Godrej’s grocery brand and retail concept, Nature’s Basket, we were informed by the company that its revenues increased by 100%. Likewise, when we redesigned the Chemistry brand and experience for Esjay, a global garment manufacturer, a similar uplift in existing retail outlets was reported, even 60% to 70% increase in revenues in some cases.
B&E: You mention Dhanlaxmi Bank has just roped in Fitch to roll out a new brand identity and retail design. What is it that the private sector bank is looking at with this latest move?
David Blair (DB): Though Dhanlaxmi Bank is an established name, the new leadership wants to communicate an up-to-date approach to banking. An approach that encourages an open relationship between the client and the bank, where banking is demystified and made easier, and as such becomes more in tune with the demands of a new and often younger audience. While the modern design of the bank’s branch offices reflects this new approach, the brand name & logo continue to communicate the values of trust & reliability that it has built over 80 years of experience.
Globally, the banking industry faced a slowdown in the last two fiscals. Did the global meltdown have an impact on the financials of Fitch as well, in terms of providing design consultancy to banks globally? Further, how has the company battled with the slowdown?
DB: Like all other global consultancies, Fitch too was affected by the recent slowdown. However, Fitch, like many of its banking clients which include Dhanlaxmi Bank, HSBC and Citibank, has come out well through the crisis and is now in a very good shape. In fact, we are back in action and ready to work for clients across all industries, and not just the banking sector.
B&E: But do you plan to tie-up with other local banks as well or would you expand beyond that sector?
DB: We are certainly looking forward to a strong presence in the Indian subcontinent, be it the banking industry or any other sector for that matter.
B&E: Give us some examples. We’re told Fitch has provided design consultancy to several big Indian retailers including Reliance, ADA, Tata group in the past. How has the new branding execution benefited these players?
DB: Some of our clients come to us to redesign existing brands and formats, like Westside and Landmark for Tata Trent. Some to create brand extensions, like Zoya for Tanishq (the Titan owned jewellery brand), and some to create entirely new brands, like the iconic stationary brand, P3, we created for Bilt. Majority of the time, this results directly in an increase in customer base and revenues. For instance, when we redesigned Godrej’s grocery brand and retail concept, Nature’s Basket, we were informed by the company that its revenues increased by 100%. Likewise, when we redesigned the Chemistry brand and experience for Esjay, a global garment manufacturer, a similar uplift in existing retail outlets was reported, even 60% to 70% increase in revenues in some cases.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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