The Co-operative Group is carrying out a major revamp of its branding structure in the UK as part of an effort to recover its tarnished reputation.
The retailer is bringing back its blue “cloverleaf” design logo which was phased out in the 1980s, as well as rolling out a new discount system for members. A company’s logo is a sketch, design, or image that reflects what it stands for, i.e., its brand image.
The move was announced by Co-operative Group chairman Allan Leighton at its annual general meeting on Saturday.
The new discount scheme, set to go into effect this September, will give customers a 5% reward paid into a membership account for any purchases they make of Co-op own brand products and services.
Five year growth plan
The Group outlined a five-year growth plan, which involves recruiting a million new members, have 50% of sales across its businesses coming from Co-op members, and returning an additional £3 million in benefits to Fairtrade producer communities.
Allan Leighton, Chair of the Co-op, said: “We are on the verge of creating a new Co-op economy, one where the trade from our members clearly benefits them, their communities and our thousands of suppliers.
“Our brand identity, whether seen on a Fairtrade bottle of wine, on a funeral home fascia or on our insurance website, will signify a better way of doing business.
The new logo is being implemented immediately. The first stores with the logo are set to be unveiled on Monday, 23 May. The retailer hopes the new branding will provide “an iconic but contemporary identity which connects the Co-op with its heritage and the new membership scheme.”
The overhaul comes as the group continues to recover from a near collapse in 2013. Co-op had to offload a series of businesses to reduce debt, such as the sales of Co-operative Pharmacy for £620, Co-operative Farms for £249 million, and Sunwin (the group’s cash transportation business) for £41.5 million.