The Econika Corporation, which unites five subsidiaries: the Econika shoe casket network, City 21st Century investment and development company, as well as Econika-techno (industrial and construction equipment), Econika-finance (project financing) and Econicu Estate (commercial property management), announced a rebranding.
From May 17 to 2011, the new name of the well-known Russian diversified holding is the Novard group of companies. From this moment Econika remains the brand of only the footwear business of the group, which has gained fame in the market and the sympathy of customers under this name.
The president of the Novard group of companies Andrei Iliopulo in connection with the announced rebranding noted: “Most of the holding's history and many of its successful projects are associated with the name Econika. Nevertheless, we are developing and taking a step into the future. The new brand and new approach will give additional synergy to the group of companies, an impetus for more active development. ”
At Novard, rebranding is considered a new stage in the development of the group and its key businesses, since it is associated with the refinement of strategic plans and priorities, with the improvement of the selected business model of a diversified holding. The name “Novard” was given to the brand by the ancient word “navarh”, which means “leader of the flotilla, flagship”. The name of the company “Rutector” appeared as a result of the merger of the two foundations - ru (Russian domain name zone) and tector (creator), which literally can be interpreted as “Russian creator” or “Russian base”.
The partners of the Novard group of companies in the preparation of the rebranding project were the team of the renowned international agency Brandflight. Work on creating a brand and formulating its philosophy began in the 2007 year. A team of 50 people worked on the new brand and strategy - top managers and employees of the then Econika Corporation.
Through 2 years of hard work, the brand was finally adopted, and in 2010, the first stage of changes was carried out - updating the ideology and introducing new brand platforms in all subsidiaries. As the head of Brandflight, a well-known specialist in branding Thomas Gad, noted, “Novard” became one of the first brands in Russia, which implies a long-term relationship between people, the involvement of employees and customers in creating and further filling the brand with life. The factual confirmation of this philosophy is that more than 30% of employees have been working in the company for more than five years.
Another idea that was born in the process of rebranding and was already implemented in the spring of this year is the decision to specialize the Econika shoe chain network only for women.
In 2010, the holding's consolidated revenue from the sale of goods and services of the holding amounted to $ 335 million. At the same time, the net profit of the group of companies reached about $ 21 million.