Soon after adding Jaypee Sports International, which owns and manages the Formula 1 track, to its Delhi office, Lodestar UM is celebrating the win of Muthoot FinCorp in its Bangalore office. Muthoot FinCorp has decided on Lodestar UM after a multi-agency pitch that saw participation from other leading media agencies.
Lodestar UM has already started working on the business. The account size is pegged in the vicinity of Rs 30-35 crore. It is understood that Mindshare is the incumbent on the business.
The creative mandate has been awarded to Lowe Lintas.
A key objective of the communication exercise is to build awareness and create differentiation based on product offering.
Commenting on the win, Vaishali Verma, VP, Lodestar UM, said, “We are delighted with this win as it marks our entry into a new and growing category. They had a very clear brief, which helped us to arrive at a strategic road map for them. We look forward to a long association with Muthoot FinCorp, where we partner them in their growth and success.”
Muthoot FinCorp Limited is the flagship company of the Rs 20,000-crore Muthoot Pappachan Group. A key player in the gold loan business, Muthoot FinCorp has over 1,200 branches spread across cities, towns and villages of India.
Jaypee Sports assigns Formula 1 media mandate to Lodestar UM