M&M eyes premium tag for Mahindra brand, luxury for Ssangyong

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This is not the first time that the Mumbai-based M&M has evinced interest in acquiring a premium brand, though it hasnít been able to lay its hands on one. This is not the first time that the Mumbai-based M&M has evinced interest in acquiring a premium brand, though it hasnít been able to lay its hands on one.
SummaryPremium brands like M&M are nice to own but itís difficult to make money from them because fixed costs are high.

connotations like labour strikes in South Korea. M&M has appointed Strawberry Frog, a New York-based creative agency, to take a look at the groupís re-branding strategy.

ďWe are hoping that Ssangyong will also take the Mahindra brand to a higher level in India. With Mahindra we hope to go beyond the XUV500 price point slowly as we take the brand higher and higher. Today, if Mahindra was to launch a R50-lakh product, no matter how good it is, it probably will not have the impact,Ē he said.

M&M has seen its passenger vehicle volumes drop 17.5% in April-December FY14 to 1.87 lakh units because of subdued demand for SUVs after excise duties were increased earlier this year and diesel prices were hiked several times. M&M shares on the BSE closed 1.52% down at Rs 893.50 on Thursday. The benchmark Sensex was down 0.08%.

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