Hero Honda will soon reveal their new identity, following their split from long time JV partner Honda last year. Their new identity will be revealed on August 9 in London. Owned by the Munjals, the Hero Group, which owns a majority stake in the Hero Honda Motors Ltd. venture have been planning their first big step of getting their new image established following the split from Honda.
According to reports, the company was stated as saying that as part of an important first step for transforming the company into a leading global brand, they would unveil their new brand identity and in London, UK, on August 9.
In early March, 2011, the company hired a global innovation and brand specialist, Wolff Olins for developing their new brand image. Wolff Olins, part of Omnicom group, was consented to work on developing the company new brand image, including the name, positioning, logo and architecture of the brand.
Later in May, the company also brought in Law and Kenneth, as their creative partner for establishing and launching the company’s new brand image. The independent brand comm. company was authorized to devise the company’s new brand positioning.
According to reports, Hero Honda will unfold a number of strategic initiatives, which will allow them to consolidate their leadership position in India, and enter global emerging markets. The Hero Group agreed to buy out the 26% stake formerly owned by Honda in the company for INR 3,841.83 crores.
According to an agreement that the two former partners had signed, Hero could continue using the brand name of Honda till 2014, however it the Indian company wants to create its own new brand identity as early as it can so that it can sustain its leading positioning the Indian two wheeler market.
Honda and Hero Group had also signed a new license agreement in March, according to which the Hero Group would pay Honda around INR 2,450 crores or 45bn yen till 2014.