The Rs 20,000-crore Muthoot Pappachan Group has appointed Mindshare, Chennai as its media AOR following a multi agency pitch, which saw the participation two more agencies besides Mindshare. Contract Chennai handles the creative duties of the Group. The account size is pegged at Rs 10 crore.
Speaking to exchange4media, Thomas George Muthoot, Director, Muthoot Pappachan Group, said, “We had invited Mindshare and a few other agencies. After various negotiations, we have zeroed in on Mindshare. We found Mindshare to be good enough to deliver as per our requirements.”
Muthoot further said that the company had gone for a new corporate identity to emphasise its ambitious expansion and diversification programmes that would see the Group having a pan-India network. The new identity, which includes change in the logo, will help the Group to reposition its image and create a distinct brand identity as it enters new markets. The Group is planning expansion and diversification in its core areas of financial and hospitality sectors. The new corporate identity campaign will break on January 25, 2010.
“We are changing our logo. That is the first activity we are planning to do, starting January 25. We will be spending close to Rs 2 crore on the rebranding exercise. Apart from that, we are planning to market a couple of financial products, including ‘Swarnavarsham’, for which we will be spending close to Rs 8 crore. The total spend will be around Rs 10 crore over the next one year,” Muthoot added.