India's largest two wheeler maker Hero Honda Motors (HHML) today said it has roped in global brand and innovation specialist, Wolff Olins to create a new identity after the exit of Honda from the joint venture.
"The new buzzwords at Hero Honda are Creation, Renewal and Re-energising. I am happy to have Wolff Olins partnering with us in this exciting journey into a promising future," HHML Managing Director & CEO Pawan Munjal said.
When the two partners announced their break-up, Munjal had said that the Honda name would be eventually dropped from Hero Honda and the company would take up a new identity.
Wolff Olins, a part of the Omnicom group, is working on the new brand identity in its totality. This includes the brand architecture, brand name, brand logo and brand positioning, the company statement said.
The two joint venture partners of HHML -– Hero Group and Honda Motor Co -- signed an agreement recently, wherein the former is going to buy all the 26% shares of foreign partner in HHML,
The Hero Group and Honda had agreed to part ways from their JV in December last year. The BM Munjal-led group will pay Rs 3,841.83 crore for the Japanese partner's 26% stake in Hero Honda.
Commenting on the new assignment, Wolff Olins Managing Director Charles Wright said: "We are indeed excited to be working on this mandate. Hero Honda is an Indian icon and it is a privilege to partner Pawan Munjal and his team on this journey of transformation.
"India is a strategic priority for us and for Omnicom as a whole, and therefore this mandate assumes a huge priority for us."
With offices in London, New York and Dubai, Wolff Olins is a global brand and innovation business that has, over the past four decades, worked on transformation initiatives for brands and corporates across the world, partnering them for growth.