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Madison World bags ITC Ltd. media biz; to create special unit to handle the account

Madison World bags ITC Ltd. media biz; to create special unit to handle the account

Author | Tasneem Limbdiwala | Tuesday, Oct 19,2010 1:21 PM

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Madison World bags ITC Ltd. media biz; to create special unit to handle the account

The fiercely competed ITC Ltd. media pitch has finally concluded, and the decision is in favour of Madison World. ITC officials have confirmed this to exchange4media, stating: “As part of the media agency-of-record (AoR) review process, ITC Ltd. has decided to award the media AoR responsibilities to specially created media agency unit of Madison World. This would be effective from January 1, 2011.”

Madison World has bagged the entire ITC portfolio across all mediums with the exception of outdoor, since it was not a part of the review. It may be recalled that the corporate major had initiated the media AoR review process in June 2010.

With this development, ITC has broken a long standing relation with Lintas Media Group.

Official confirmation on the other agencies in the pitch was not available, but industry sources informed that apart from the incumbent LMG and Madison World, the other agencies in the fray included MEC, Mudra Max and one of the Publicis Groupe’s media brands (Starcom Worldwide and ZenithOptimedia).

Sources also informed that the business has been in the vicinity of Rs 350-400 crore.

ITC is primarily a Bangalore and Kolkata based business. ITC has a diversified presence in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products. While ITC is a market leader in its traditional businesses of cigarettes, hotels, paperboards, packaging and agri-exports, it is rapidly gaining market share even in its nascent businesses of packaged foods and confectionery, branded apparel, personal care and stationery.
 

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