Pharmaceutical major Nicholas Piramal India Ltd (NPIL) is working on a complex internal rebranding exercise for creating a common brand identity across its various divisions like Wellquest (clinical trials division), Wellspring (pathlabs) and Actis and may adopt a common name and a new logo that can be easily identified by its clients across businesses.
The company has entrusted the task of advising it on this to Bangalore-based Momentum Strategy Consultants headed by Dharen Chadha, sources added.
Confirming the development, Swati Piramal, director, strategic alliances & communications, NPIL, told FE, ?Yes, we have been discussing a common brand identity, including a change in the company logo, although nothing has been finalised yet. We will announce the change in six months? time. This is an effort to rationalise the various entities and for ease in regulatory procedures.? Asked if the company would also see a name change as the first step towards an image makeover, Piramal said, ?No, why should we change the name? Our move is to create a common identity among our various divisions, and not an image makeover. At present, there are so many divisions, that it can create confusion.?
According to sources, there is a likelihood of a change in the name of the company along with a total communications overhaul. Nicholas Piramal has left it to its consultants to determine the finer aspects of the whole rebranding process, including deciding which would be the advertising or PR agencies the company should work with, sources added.
In 2002, NPIL had divided its operations into 14 strategic divisions from around eight business units in order to make each of the units into separate profit centres with a dedicated field force and focus. Each small division was to handle a number of brands.
Recently, the company has announced that it is hiving off its innovative research division into a separate company.