Piaggio has launched its scooter brand Vespa LX 125, targeted at the premium segment, in India. Industry sources informed that Piaggio has earmarked a budget of Rs 25 crore for Vespa. The company has appointed MediaCom India as its media and digital agency.
This is MediaCom’s third big win in 2012 after KDD India and Apollo Munich.
MV Krishna, Associate Vice President, Marketing (two-wheelers), Piaggio Vehicles has confirmed the development to exchange4media. Vespa’s creative mandate is with Meridian.
Vespa is Italian brand Piaggio’s first venture in India without a local partner. The company is marketing Vespa through electronic media, print media, social media, events and also Vespa lifestyle club (fan club).
Piaggio has set up a plant for Vespa in Baramati with an investment of 32 million Euros. The plant has a capacity to produce 1,50,000 scooters and plans to produce 3,00,000 scooters subsequently. The company believes it will be able to sell 12,000 scooters per month by the last quarter of 2012.