Nuvoco Vistas looking to increase media spends by about 25% next fiscal
Kolkata: Nuvoco Vistas Corp Ltd, formerly Lafarge India Ltd, is looking to increase its marketing and branding spends in the next fiscal by about 25% over the current fiscal year, said a senior company official.
The company on Tuesday announced its year-long association with the Indian Premier League team Royal Challengers Bangalore and is the principal partner for the back solus of the team jersey.
According to Nuvoco Vistas chief – sales, marketing and innovation, Madhumita Basu, the company is looking at a 25% increase in its media spends for all its brands. Of its total revenue, branding and promotions accounts for about a little over 2%, almost at par with its competitors.
“The elements we have rolled out are synergistic to our brand programme,” Basu said. The company has three principal brands—Duraguard, Duraguard Microfiber and Concreto—and the branding exercises will largely revolve around them.
Lafarge India name was changed to Nuvoco, after it was acquired by Nirma.
While Duraguard is Nuvoco’s largest revenue earner in volume and value, its premium basket accounts for 45% of its total revenue.
The company has partnered with RCB through its Duraguard brand, as the company feels the brand has a better connect with consumers.
“We are bringing upfront the Duraguard brand, as this is the brand through which the consumers recognize us,” she added.
According to her, the association will also bring to the fore the company’s pan-India footprint in cement and concrete. Basu refused to divulge financial details of the partnership.
Basu said that “there are all options open” for similar partnerships in other sports as well.