Law & Kenneth has won the creative duties of Bharti Enterprises’ venture into mutual funds following a multi-agency pitch. Officials close to the development have confirmed this news. The account size is estimated to be upwards of Rs 15 core. Though the agencies in fray couldn’t be ascertained at the time of filing this report, sources close to the development have indicated that a total of four agencies were called for the pitch.
Bharti AXA Investment Managers, the asset management arm of Bharti Enterprises, had earlier announced its plans to venture into the mutual funds business. The company was on the lookout for a creative agency that could position the brand in the market differently.
Confirming Law & Kenneth’s win, Nanda Kishore Sethuraman, Head-Marketing, Bharti AXA Investment Managers, said, “Given the fact that there are more than 30-odd companies in the mutual funds business, it is important for us to position our brand in the market differently. I would say that Law & Kenneth had a holistic approach towards positioning Bharti AXA Mutual Fund in a unique manner, and thus has been awarded with the business.”
Sethuraman further informed that the campaign would have a 360-degree approach and that it would be rolled out by May 2008.
Anil Nair, President, Law & Kenneth India, was ecstatic about the win. He said, “This win is indeed very prestigious for us. Bharti is very well known as an aggressive company in India, and AXA is one of the biggest European companies in the field of financial projection and wealth management. It is a challenge for us to deliver the goods, particularly when the Indian market is already crowded with several mutual fund players competing to grab the larger share of the market.”
Bharti AXA Investment Managers is a joint venture between Bharti Enterprises, AXA Investment Managers (AXA IM) and AXA Asia Pacific Holdings. (AXA APH).