An Agriculture Equipment Chain Equipped

Paving the way for retail expansion.

Client Profile: Agrimart is India’s first chain of stores focused on selling agricultural equipment. This family owned business of the Annapoorna Group has a strong presence in the agricultural sector with interests in farming, grocery business and sugar production.

A natural diversification into agricultural equipment led to the creation of Agrimart, marketed by M/s Ratnagiri Impex, an initiate of the Annapoorna Group.

The business challenge

The company had 30 successful stores across South India and wanted to grow this chain ten fold, to 300 stores across the entire country.

Vertebrand was asked to:

  • Validate, strengthen and modify (if required) the current market strategy
  • Create a strategic roadmap for expansion
  • Prioritize markets for expansion and implementation of the roll out plan

What We Did

Our Vertebrand team developed a three-phased approach for this client. These were:

Phase 1: Develop

Our trademark and highly successful tool, Vintellity was used and the Vertebrand Arrow was created, which helps in understanding, evaluating and creating a brand identity. Vintellity uses a three-pronged approach where the heritage, intelligence and personality of the brand is studied in detail taking into consideration, the market and catchment area assessment. In addition an in-depth study of the target consumer is done, along with the environment and the inherent philosophy, strengths and weaknesses of the brand.

Based on this, a brand identity was created and a marketing strategy outlined.

Phase 2: Initiate

A team of Vertebrand professionals worked as the interim marketing team for the client, ensuring the implementation of the strategies formulated in Phase 1

Phase 3: Execute and transfer

During this phase, Vertebrand set up mechanisms to track the health of the brand on an on-going basis and ensured a seamless transfer of responsibilities to the Ratnagiri Impex team.

What We Found Out

  • The parent company, Annapoorna Group, enjoyed a long-standing history of trust with its consumers and trade partners. They had been known for their ethics and integrity.
  • They were financially aggressive with a clear expansion plan wanted to become more system and process driven
  • The brand was able to connect to the emotions of the consumer
  • The brand was seen to be warm and friendly, empathetic, pro-active and futuristic

However, it was found that there was a lack of a clear marketing and brand direction, which would destabilise any planned aggressive expansion. There was hence a need to hone in and focus on the key brand valences or traits to re-create a brand identity, which will resonate both with the consumer and the group’s inherent philosophy. Based on this a new marketing strategy would also need to be fleshed out and implemented.

Our Solution

After separating all the wheat from the chaff, the following were chosen as the core brand valences that Ratnagiri Impex should focus on for their brand, Agrimart.

  • Expertise
  • Holistic in their relationships
  • Action oriented.

The 4 Ps ; Product, Place, Price and Packaging /Promotion were outlined as follows:

  • The brand would be a premium brand, offering a set of high quality products and services.
  • It will be placed in key locations, easily accessible to the target consumer, the farmer and will not be a discount brand.
  • Marketing communication will target those areas where the consumer is likely to frequent, like farmer congregation centres, petrol pumps on highways etc.

Using this clear direction, the brand was poised to set out on its new retail expansion plan.

The Results :

The Vertebrand team worked with the Ratnagiri team to give a clear and firm shape to the plans outlined above. Once these were in place, the reins were handed over to the organisation for their continued evolution and growth. The company spread its reach to several other states and are today the number one retailer for agricultural machinery and farming solutions provider across the country.

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