After more than two decades, the founder of modern pawn-broking brand, ValueMax, wanted to change the perception customers had for pawn broking, as a dusty profession with cash-strapped victims at the mercy of emotionless valuators.
The brand identify was dated and was losing its appeal to attract younger customers. There was tremendous competition in the market as most of them offered undifferentiated value proposition leading to price wars.
The ultimate desire was to deliver to customer the best possible value for money combined with superior service.
Louken Group partnered with ValueMax in 2010 to help reposition the brand for a new generation. One way was to unite the disparate store identities under a stronger, modern brand that echoed the founder’s passion. The tagline we created – “The Value You Trust” – displayed the brand’s promise of trustworthiness.
The revamped brand prioritised convenience, customer service and innovation. It allowed customers to pay interest and renew loans at any outlets. They continued to innovate by delivering value to customers by changing the loan renewal services phase from service the loan to renew the pledge.
Since the rebranding exercise, ValueMax received many prestigious awards. In 2013, it became the first pawn-broking chain to be listed on the Singapore Exchange.