Description of the problem
Farabi, as one of the big brokers of Iran’s capital market, was trying to provide new integrated services based on global standards. This agency had taken steps for comprehensive development, including the creation of physical branches, and wanted to improve its branding capacities accordingly. The change that Farabi needed at that time was to become a modern agency with a unified identity at the global level.
Design Vand consulting company had a mission to create a new identity for all Farabi sub-brands, including Farabi Brokerage, Farabi Asset Management, Farabi Exchange, Amozin, Contact and Farabix, so that the Farabi family can follow a more reliable path of growth and development in the economic ecosystem of Iran and the world under a unified identity. .
Challenges and solutions
To build a unified identity, we represented the changes initiated in Farabi’s macro policies in the brand identity architecture and all contact points of Farabi brokerage. Farabi audiences were identified in six categories: indifferent, quality-seeking, utilitarian, education-seeking, curious, and basket-drivers, and through several stages of exploratory research, the perception of these audiences about the Farabi brand and the position of this brand in the capital market were investigated. Compared to its competitors, Farabi had the position of a respected and bold agency that has a passionate and up-to-date personality. Accordingly, four paths were proposed for the design of Farabi’s emblem, and among them, the concept of the new logo of this brand in the financial market space and the character of Farabi, one of the greatest Iranian philosophers and scientists, were conceptualized. For the design of Farabi sub-brands, we also used different forms of the letter f (the initials of Farabi).
Our second strategy towards the integration of Farabi’s image identity was the use of green color. Green color has a positive meaning in the capital market and indicates the growth of stock market indices; For this reason, all companies active in the capital market want to use this color in their identity. However, none of these companies are satisfied with the color green, and Mel turned this issue into an opportunity for Farabi. We made all parts of the image identity of this brand with green color and developed it in all contact points including virtual space, website, interior decoration, logo, etc.
The challenge we faced in the design of Farabi’s badge was to get a suitable image of Abu Nasr Farabi’s character. We had various pictures and paintings of Farabi’s face in our hands, which sometimes represented Farabi with a Caucasian and Arab face, and sometimes with an Iranian face. We had to design a face of Farabi that, at the same time, evokes an Iranian person with a handkerchief and clothes specific to Iranians, without being old and aged. Because Farabi brokerage was one of the bold and progressive leaders of the capital market, and an old face of Farabi should not have been designed for its logo. Our solution to this challenge was to make several designs of Farabi’s face at different ages and to vote on them to see which one represents a 36-35-year-old Farabi face. Finally, this arrangement brought us to the appropriate and desired version.
Results and effects
Farabi’s new designs make this agency more agile, modern and brave.
The 21st century re-creation of Farabi, while preserving the element of wisdom and thought of this historical figure, made Farabi brokerage into an up-to-date wise man of the Iranian capital market.
Our strategies made Farabi the strategic green color of the capital market, and no one could use this color in the capital market. With this color, Farabi gained a strong solution to distinguish itself from other competitors since entering new areas of development, which is still valid today. Also, the bold use of the human face in the Farabi logo strengthened the recognition, differentiation and recall factors of the Farabi brand. In addition, with such a logo, Farabi was able to establish a strong human connection with the capital market audience.
The unveiling of the image identity went ahead as well as the rest of the rebranding project of the prominent and distinctive Farabi agency. Before the official unveiling and public information, an internal ceremony was planned. So that one morning when the employees went to work, they were faced with a green interior, green ribbons and balloons with a new logo and things like that. This action caused the issue of the new identity of Farabi brokerage to become very hot in social networks and many people wrote about the new visual identity.
“My message to Farabi’s colleagues on the day of unveiling the new identity and restarting was this; I think these few lines are enough to show what value the new visual identity has added to our brand:
Today is another day! The day we reveal a new face, a face that evokes our hardworking and motivated past. It’s time to change, to face bigger opportunities, more challenging paths and higher flight. We change to change the financial world around us. We will think about the elevation of our organization and the unconquered peaks in order to create a balanced world. So we repeat our other slogan again. Farabi brokerage, the history of a “beginning”
The beginning of a “date”…”
Bahman Babazadeh, CEO of Farabi Brokerage Company
Colleagues of Farabi brokerage:
Rahman Babazadeh (CEO)
Maysam Khairkhah (Development Manager)
Mojtaba Kiani (Marketing Manager)
Jalil Noorbakhsh (Strategist)
Toraj Saberivand (Design Strategist)
Ali Kazempour (designer)
Nima Vafabakhsh (graphic designer)
Heta Afarazandeh (graphic designer)
Project process: design strategy/redesign of brand image identity
Project execution time: Spring 2019