Crompton Greaves targets young buyers
Firm is investing ten times more in branding to increase appeal among target consumers Latest news : Consumer durables maker Crompton Greaves Consumer Electricals (CGCEL) is aiming to strengthen its brand that was left to lurch for years. To put the brand among young consumers, in competitive consumer goods market that requires constant activities to gain consumer mindshare, it is now investing close to ten times more in branding. According to Mathew Job, chief executive officer, CGCEL, since the firm came into being in 2015, when Avantha Holdings sold off its stake to two PE firms — Advent International and Temasek Holdings — the focus has shifted significantly. “While awareness among older generations is still strong, it needs to be promoted among younger consumers. So, we have been working to drive the brand for last two years. Last year we allocated close to Rs 65 crore for the purpose, compared to less than Rs 10 crore that used to be invested before the de-merge...