New Delhi: Homegrown farm equipment to aerospace major Mahindra group Friday unveiled a new logo in line with its pursuit to become "one of the top 50 most admired global brands within a decade".
Commenting on the adoption of a new visual identity, Mahindra group Chairman Anand Mahindra said group has grown exponentially over the past decade, with businesses covering a wide range of industries.
"Hence, we felt the need to refresh our visual identity to better reflect a Mahindra that has evolved over the years and is ready to take on future challenges," Mahindra said in a statement.
He said the new logo "is in sync with our group's aspiration, which is to become one of the top 50 most admired global brands within a decade."
Explaining the new visual identity, he said it reflects continuity and change, which "have both been integral parts of Mahindra's growth story".
As part of the change, a new hand-drawn contemporary and edgy word mark in red will replace the existing one which is in black colour.
"The new word mark and other elements of our refreshed visual identity have been adopted after extensive research and feedback," Mahindra Group President (Group Strategy and Chief Brand Officer) and Member of the Group Executive Board SP Shukla said.
The USD 15.9 billion group had in January 2011 launched a new brand positioning - 'Rise', projecting a singular voice for various entities under its umbrella. It had said it would be spend Rs 120 crore in three years towards promoting the new initiative.