Company's cash crunch, Ogilvy's design, Meme fest on Twitter...
Vodafone Idea has made a big announcement and the company has rebranded itself as 'Vi'. In this way the company has tried to create a completely new identity among the people. Ogilvy has done the rebranding for Vi and by now, Vi must be recurring in all your heads. But how is the campaign doing? Is it too much?
In August 2018, Vodafone-Idea Limited, a Merger of Vodafone India and Idea Cellular, announced a new brand. The company is currently going through a difficult phase, where even parent company Vodafone Group is not ready to provide any additional funds.
Officials have stated that the objective behind bringing this new brand is to ensure better quality of calls and excellence of its associated services. Through this brand, the company is trying to attract a new class of customers on the promise of high quality under the brand. Also, the company wants to stop its decreasing user base by bringing a new identity. In that case, the brand has to be embedded in the minds of mobile users in India.
Kumar Mangalam Birla, Chairman, Aditya Birla Group, said on the occasion that both Vodafone and Idea have set new standards like network experience, rural connectivity, customer service, enterprise mobility solutions and many more.
Birla further stated that since the mid-90s both Vodafone and Idea have accelerated the growth of the sector in various incarnations. He said, "We are working towards taking the digital economy forward and are committed to giving it momentum".
With an aim to increase its customer base among rivals like Reliance Jio and Airtel, We can read this brand as 'We'. So maybe now you think it's not too much.
The Crisis & The 10-year plan
Significantly, the company is currently facing a cash crunch and the Supreme Court has given Vodafone India Limited ten years to repay the arrears of Adjusted Gross Income (AGR). The company has to pay 10 percent of this in the current financial year and the remaining amount in 10 installments in the next 10 years. The company owes AGR of over Rs 58,000 crore. Of this, the company has paid Rs 7,854 crore so far. Vodafone Idea had a record loss of Rs 73,878 crore in the last financial year.
The company is satisfied with the decision of the Supreme Court
Company CEO Ravinder Takkar said, "This is important because we will be able to prepare our 10-year plan. Apart from this, the initial payment of 10 percent has already been made by our company. In such a situation, according to the decision of the Supreme Court, we have to make the first payment in March, 2022. This will be the first installment of ten years of payment for us. Ultimately, the outcome of the Supreme Court verdict has been good".
These companies have done their rebranding many times before
This is not the first time these companies have introduced themselves to the public as a new brand. Both these companies have done their rebranding about ten times. While Vodafone Idea has done its branding as Max Touch, Orange, Hutch and Vodafone, Idea has also branded itself as Birla AT&T, Birla Tata & AT&T and Idea Cellular. After this, these two companies together formed the Vodafone Idea Limited (VIL) brand, which has now become Vi.
Reliance Jio welcomed it after Vodafone Idea rebranded itself as 'Vi'. Reliance Jio tweeted that it is happy to see the two companies together.
— Reliance Jio (@reliancejio) September 7, 2020
As soon as Vodafone Idea unveiled its new brand identity "Vi" two days ago, Netizens have shared different opinions.
Some have liked the launch, whereas some are finding it appalling and not appealing. But for the brand, it was a creative achievement, as the two finally shared a common logo two years after their merger.
Ogilvy has done the rebranding for Vi. The agency has worked with Vodafone for years, when it was known as Hutch (for the pug campaign) and later Vodafone (For ZooZoo commercials).
Ogilvy India President Hirol Gandhi said that there were two important things to keep in mind before the launch. "The first was to establish prominence and a recall for the new brand, as well as to pronounce it correctly. Second, to tell the whole world about the transition: Vodafone and Idea are now Vi".
But is it too much? The 45-second film mentions the name ‘Vi’ multiple times along with the music. For some, it is irritating. Wait it's not some, it's for most of them!
Here are some crunching funny tweets that took over Twitter -
The combination of red and yellow brings out the most hideous logos. No matter how hard you try you try, this combination will always look ugly.
— dhara (@Winkerbell_) September 7, 2020
Will the new Vodafone Idea logo VI make it more VIable? #VodafoneIdea
— Jeet Pipalia (@jeetpipalia) September 7, 2020
— Poonia (@lcpoonia) September 7, 2020
It took two years for Vodafone-Idea to come up with a new name and what they came up is - ‘Vi’.
Itna mushkil tha kya yeh😂😂😂😂#vodafoneidea
— Shriyak Jain (@shriyakj) September 7, 2020
— जमींदार🌾 (@TheZamidar) September 7, 2020
— Sagar (@sagarcasm) September 7, 2020
— N! (@nupsuglymemes) September 8, 2020
— Rishabh Boonlia (@rish_diem) September 7, 2020
— Suraj Kumar (@Suri379) September 8, 2020