Aaren Initiative, a joint venture between Aaren Advertising and Initiative Media, has bagged the rights for developing and marketing visual signage at High Street Phoenix, Mumbai. With the complex morphing into a hot spot, agency believes it will offer advertisers opportunity to target the affluent.
Aaren Initiative has signed a long-term agreement with Phoenix mills for innovative outdoor advertising. The project will be undertaken on a profit sharing basis.
Aaren Initiative is gung-ho about winning the contract. Says S Yesudas, Vice President Initiative Media, who also runs Aaren Initiative "With the expansion plan that Phoenix proposes, it is going to be the place to be in Mumbai within the next few months. The place already attracts close to a 1 lac foot falls everyday". With the plans of a seven screen PVR and a huge life style store in the offing, agency believes that it would become the hot spot in the city and a number of clients will be interested in advertising there.
The company intends to put up world class outdoor advertising, which is not very easy to find in India. Says Yesudas, " We believe attention will slowly shift from traditional bill boards to many other emerging options. Aaren Initiative believes in being at the forefront of all such developments. Therefore, our objective is to identify potential avenues and create space for innovative use of the medium."
Atul Ruia, Director, The Phoenix Mills Limited, confirmed the arrangement. He said, "We are certain that this can offer great value proposition to advertisers. We will offer captive audience with purchasing power which various brands are keen on talking to". He further added, " Aaren Initiative has started work on the strategy. We expect the execution to take place in a phased manner"
The company today handles outdoor advertising for LG, Eveready, Pantaloon, Big Bazaar, PSI among others.