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O&M bags Dhanalakshmi Bank, Westside biz; cumulative account size pegged at Rs 25 cr

08-October-2009
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O&M bags Dhanalakshmi Bank, Westside biz; cumulative account size pegged at Rs 25 cr

Post the announcement of its brand revamp, 82-year old private sector Dhanalakshmi Bank has appointed Ogilvy & Mather as its new creative partner. Another new business in Ogilvy & Mather’s kitty is that of Westside. Both the wins come in the wake of multi-agency pitches.

Sheran Mehra, Head - Marketing and Corporate Communications, Dhanalakshmi Bank, has confirmed the development to exchange4media. Though she did not divulge the ad spend, industry sources have pegged the business in the range of Rs 15 crore.

O&M will help the Bank to design and implement a comprehensive go-to market communication approach, which will reflect the new philosophy and approach of brand Dhanalakshmi Bank. The agency will help the Bank in its endeavour to create an entirely new customer experience and to incorporate a young and contemporary look across all customer touch-points.

In a release issued, Piyush Pandey, Ogilvy and Mather’s Executive Chairman and Creative Director – South Asia, stated: “We are extremely delighted that Dhanalakshmi Bank has chosen Ogilvy to be their communication partner. Dhanalakshmi is a bank with tremendous heritage and value systems. I look forward to a wonderful journey to make Dhanalakshmi a top-of-the-line national institution.”

In a prepared statement, Mehra said, “Creating a brand imagery and an association with the consumer is an important step in our journey to transform Dhanalakshmi Bank into a next generation private sector bank. The new communication strategy will help the bank establish an association with a larger audience spread across geographies and age groups.”

It may be recalled that in September 2009, the Bank had roped in Fitch, London-based branding and design consultants, to chart out it new brand identity and retail design. The objective was to revitalise the brand imagery to appeal and resonate with the larger audience. The Bank, in the past one year, has adopted a three-pronged approach towards its transformation into a new age high growth bank: launch of innovative products and services, creation of a nationwide footprint and evolving a strong brand communication for its diverse customer base.

Dhanalakshmi Bank was incorporated on November 14, 1927, by a group of ambitious entrepreneurs at Thrissur, the cultural capital of Kerala. The Bank started with a capital of just Rs 11,000 and seven employees, and subsequently became a Scheduled Commercial Bank in the year 1977. The Bank has recently received approval from the Reserve Bank of India to open 66 branches and 380 ATMs across the country during 2009. This will increase the number of customer outlets from 279 to 725, helping it attain a national stature.

Meanwhile, Westside is a brand operating under Tata Retail Enterprises (Trent). The account size is believed to be upwards of Rs 10 crore. Publicis Ambience is the incumbent creative agency. Media duties remain unchanged, with Lodestar Universal being the media agency on the business.

Trent, a Tata Group company, is a known player in the modern retail market. The company got its present name after it was renamed consequent to the sale of the Lakme brand. It deals with retailing of garments and household accessories.

The Westside stores have numerous departments to meet the varied shopping needs of customers. These include menswear, women’s wear, kid’s wear, footwear, cosmetics, perfumes and handbags, household accessories, lingerie, and gifts. The company has already established 36 Westside departmental stores in Ahmedabad, Bangalore, Chennai, Delhi, Gurgaon, Ghaziabad and Noida, Hyderabad, Indore, Jaipur, Kolkata, Ludhiana, Lucknow, Mumbai, Mysore, Nagpur, Pune, Rajkot, Surat, Vadodara and Jammu. The company hopes to expand rapidly with similar format stores that offer a fine balance between style and price retailing.

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