Piramyd Retail, a part of the Ashok Piramal group, will launch a new branding strategy for its departmental store format, Piramyd Megastore, in a month's time. |
The branding strategy would be based on the theme, 'celebration', and use vibrant colours in the logo and highlight the word, Piramyd, in blue. |
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The company is also planning a national advertisement package to unveil the new brand soon. |
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The inside and outward signages in the stores, store directory and staff uniforms would incorporate the new brand, said Nandan Piramal, executive vice chairman, Piramyd Retail. |
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"The old branding was not appealing to our customers. So, we decided to reinvent the brand to convey our idea of a total shopping experience to the consumers and why they should visit our stores," Piramal said. |
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Denying the takeover buzz surrounding its supermarket format, Tru Mart and Megastore, Piramal said the company was growing steadily and entering new markets. |
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It was looking at increasing the number of Tru Marts to 320 in 50 cities from the current 28, and to have 35 Megastores in 25 cities compared with 7 at present. |
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While refusing to talk about the company's investment plans for the next three years, he admitted that debt, internal accruals and private equity options would be explored to fund expansions. |
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