The rebranding of Russian corporation Ekonika ended in May with the renaming of the company as Novard Group of Companies, according to the company’s press release, where it was specifically noted that the former Ekonika trademark will now only apply to the new group’s shoe business operations. Simultaneously, the company also rebranded one of its subsidiaries Ekonika-Techno, which will henceforth operate under the Rutector brand.
The company’s new name ‘Novard’ comes from the ancient word ‘navarh,’ which means ‘the flagship of a fleet,’ while ‘Rutektor’ was formed from merging two words – ‘ru’ from the English name of the Russian domain names, and ‘tector’, meaning a ‘creator,’ The latter name which can be interpreted as ‘Russian creator’ or ‘a Russian foundation,’ the company said. “The on the new brand name allowed us to formulate a number of new ideas and create new projects,” Novard President Andrei Iliopulo said. Novard is successfully functioning holding, whose consolidated revenues amounted to $335mln and the net profit of $21mln in 2010.
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