Repositioning the Parker brand of pens as a premium product, Luxor Writing Instruments is bringing back actor Amitabh Bachchan as endorser by paying a 20 per cent premium on his fees for a period of two years.
“Celebrity costs never remain the same. We are now positioning Parker as an accessory and Mr Bachchan will be back on the communication for Parker with a 20 per cent premium,'' said Ms Pooja Jain, Executive Director, Luxor writing Instruments.
Mr. R Balki, Chairman and Chief Creative Officer, Lowe Lintas, who has directed Bachchan in movies such as
Celebrity managers indicate that Mr Bachchan's endorsement rates begin from Rs 3 crore, and depend on the number of days consumed by the brand. In fact, has been endorsing Parker for almost a decade, but since 2008 his association with the brand had snapped as Parker was undergoing a global transformation.
Standalone stores
Present in the country since 1996 as a licensee brand, Parker will now also enjoy the status of having standalone independent stores under its label.
Currently, Luxor Writing Instruments has 38 stores under its indigenous mass brand Luxor with names such as Luxor Express.
The Rs 250-crore pen company is also adopting a typical FMCG strategy by having several SKUs for the Parker brand. “Parker will have additional price points between the price points of Rs 700 to Rs 5,000. We are planning to have five new price points to plug the gaps in our pricing.
Parker products have now been infused with superior technology,'' added Ms Jain.
In fact, Parker has been steadily increasing the number of price points since its entry into the Indian market when it was a mass premium brand with pens priced from Rs 100 to Rs 500.
In 2009, its price points were revised when new price points upwards of Rs 700 were introduced.
“The brand has also undergone a logo change keeping in mind the global image of the brand. Today, almost 40 per cent of our turnover comes from Parker,'' added Ms Jain.