Branding agency DY Works today said it has won the integrated branding rights for the first multilateral development bank formed and operated by BRICS nations.
“The agency has bagged the integrated branding mandate of New Development Bank (NDB) — a multilateral development bank formed and operated by the BRICS nations (Brazil, Russia, India, China and South Africa),” the company said in a statement.
DY Works was awarded the rights among the participating agencies — three leading branding agencies from each BRICS nation were invited for the pitch that comprised four rounds, it said.
In the final round, DY Works and a leading Chinese Agency were shortlisted.
“The mandate to create a brand for a multi-lateral development bank such that it creates a strong differentiation from others on the landscape including the World Bank, Asia Development Bank, IMF and more, is particularly challenging.
It was the proposed brand strategy for the same that won us the pitch,” DY Works President Alpana Parida said.
The decision was made by the board of directors and the senior management of the team from each of the BRICS countries.
According to the mandate, DY Works will develop brand strategy and design across the brand identity system.
Besides, the agency will also be responsible for creation of a visual language, design of office environment and brand principles in architecture and environment design, website and online presence among many other brand touch-points.
The New Development Bank is a multilateral development bank operated by the BRICS states as an alternative to the existing US-dominated World Bank and International Monetary Fund.
Headquartered in Shanghai, China, the bank has been set up to foster greater financial and development co-operation among the emerging markets.
The bank appointed KV Kamath as its Chairman in July, 2015 and will commence operations in the current year.