Piramyd Megastore to have new brand identity

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.

The company is also planning a national advertisement package to unveil the new brand soon.

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.

"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.

Denying the takeover buzz surrounding its supermarket format, Tru Mart and Megastore, Piramal said the company was growing steadily and entering new markets.

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.

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.