“The beginning of wisdom is to call things by their proper name.”
The great philosopher Confucius, born over two thousand years ago, seems to have an interesting quote on everything (if the internet is to be believed).
Last week, Sequoia Capital announced their concept of running as three independent entities across three geographies to manage complexities of the capital world by decentralizing. While this is a bold business move, it is an equally challenging one for branding.
Nearly a decade ago, PayPal and eBay demerged to pursue businesses with each other’s competitors. But I cannot think of any other example of such a demerger done in the interest of playing on regional strengths. International media is referring to the Sequoia demerger as “decoupling” and “end of bromance”, especially in China.
Predictably, the decision makers continued with their original name & identity with business as usual across USA and Europe. Interestingly, even the China based entity was always known as HongShan, the local name for Sequoia. Effectively, not much has changed for that entity either. However, the biggest change was brought upon the team that will continue to manage India and Southeast Asia. New name, new identity, new colours… and maybe newer ways to ace the game.
The name “Peak XV” is certainly intriguing. One wonders whether to call it “Peak XV” or “peak fifteen”. And what does it mean?
Some brand and media experts believe that a name and its pronunciation should not need an explanation or a prompt. But there cannot be a blanket rule. There are numerous examples of evocative names that make you go “huh?” and get you engaged in the story. Apple, Amazon, Paper Boat and so many others would fall in this category. And then there are others that are so descriptive, that they leave no potential for any imagination. For instance, Standard Chartered Bank or British Airways. These names do the job of explaining exactly what to expect from the brand or service associated with it. Now think of Tomato Bank or Virgin Atlantic. Which brand would you think will draw you into a story?
The name “Peak XV” pronounced as peak fifteen represents Mount Everest before it was named that. Referring to the world’s highest mountain confirms the audacity, resolve and pursuit of greatness for the team. It is refreshing and mirrors the ambition for the region.
The visual identity however, did not resonate the greatness for me. I could recall at least five other well-known logos with some form of infinity loop, one of them being rather close for comfort. Visual language of the infinity loop on stark black used in the website also looks familiar.
The colour purple was brought in with a very circuitous explanation of “letting go of the yellow in Sequoia green, keeping the blue and adding red – for energy, life source, passion & good fortune.”
An unusual train of thought for a purple to reign. The colour works well though.
A brand, as we know, is not just its logo or website. It is the sum total of values in action, thoughts in motion. This is just the beginning of Peak XV. I am sure many interesting stories will unfold as the trek progresses towards the summit.
(Ashwini Deshpande is the co-founder and director of Elephant Design)