Study of giant magnetoimpedance effect (GMI) in electrodeposited CoNiFe/Cu composite wire is reported in the intermediate frequency region (10 kHz–10 MHz). The room temperature M–H curve of the sample reveals that the magnetic softness is independent of the film thickness(t). The changes in GMI value is attributed to the geometric effect caused by change of film thickness. To justify this claim, a hybrid model for circumferential permeability is proposed by combining the effect of domain wall motion(μdw), spin rotation (μrot) and local dispersion of anisotropy. The spectra of circumferential permeability is modelled with domain wall relaxation with continuous distribution of relaxation times. The spin rotation part of circumferential permeability is formulated using linearized Landau–Lifshitz–Gilbert (LLG) equation with Bloch–Bloembergen damping term and dispersion of anisotropy field. The proposed model is able to reproduce all the experimental results using single set of material parameters.