After a multi-agency pitch, Jindal Vijaynagar Steel (JVSL) has assigned Lowe with its media and creative duties. According to industry sources, the other agencies in the fray were O&M, Percept and McCann. The account could be anywhere within the region of Rs 5-7 crore..
JVSL is the only flat steel producer in south India. It is the first integrated steel plant to use oxygen-based iron and steel making with continuous casting and hot rolling.
Anaheeta Goenka, Senior VP, Lowe, said, "We are extremely pleased to be handling this piece of business, as it is one of the known names in the steel industry and the one which has been on the scene since a considerable amount of time. Since we have just bagged the business, it's too early to ascertain the actual size but we believe that it's substantial."
When asked if the steel account was bagged as a part of a pitch, Goenka said, "Yes, we did win it as a part of a multi-agency pitch. The entire process consisted of two rounds. The first time around, we were given a brief and were told to make presentations before heads of various businesses within Jindal Vijaynagar Steel. The second time around, we had to make presentations before board of directors. After that we were informed that we have managed to win this particular business."
Goenka is, however, tight lipped about the other agencies that were involved in the pitch.
Meanwhile, Jayaraman, Deputy General Manager of JVSL, said, "We felt that Lowe's thoughts were in tandem, with the vision that we have for the Jindal Vijaynagar brand. We are a name to be reckoned with in the steel industry and have a turnover of Rs 8000-9000 crore. We produce millions of tonnes of galvanised steel and are looking to propel ourselves better, more so through television. We are taking up a heavy corporate branding exercise which would help us figure in media circles better."
Jayraman said, "The pitch process was in two-stage. While in stage one, the interaction was with business heads, in stage two, the interaction was with the various members of the board."
Jayaraman stated that the size of the business is substantial. He said, "We are looking at a whopping budget, as we haven't advertised much in quite a while. At this stage, we can afford to assert ourselves better."
JVSL is the most modern, technologically efficient and eco-friendly integrated steel plant of its kind, it uses the revolutionary Corex technology. The plant has a hot rolling capacity of 2.5 million TPA. It is a part of the $ 4-billion Jindal organisation. Spread over an area of 3000 acres in Toranagallu in the rich iron ore belt of Bellary - Hospet, the plant site is around 340 kms from Bangalore. The plant is strategically located in Karnataka and well connected to the ports of Chennai and Goa within 400 - 500 Kms. by road and rail.