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Madison bullish on international expansion; to set up next office in Colombo

20-February-2008
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Madison bullish on international expansion; to set up next office in Colombo

Madison Communications has been very clear in its intentions to spread out to international markets, and the next market in the organisation’s radar is Sri Lanka. Madison Communications already has presence in Bangkok, when the group acquired a 24.5 per cent stake in Penada, a Bangkok-based event management and allied services company. Madison Media is now in the process of finalising details for launching an office in Colombo, and expects to commence operations there within a month.

Sam Balsara, Chairman and Managing Director, Madison Communications, explained, “The reason why we are setting up office in Sri Lanka is that it is one of the important markets close to India, and many of our clients are either already operating there or are looking at beginning operations there soon.”

Balsara informed that Madison had already identified the local players that it would partner with in its Lanka foray and that it was in the process of appointing a head for the Sri Lanka operations. When asked further, Balsara said it was still too early to divulge any details on this as the agency was still in the process of finalising the deal. He, however, informed that Madison would be ready to speak on the specifics in a couple of weeks.

Speaking more on the international growth plans, Balsara said, “We are on an aggressive growth and expansion drive and, therefore, we are looking at other markets too, where we believe we can bring something unique to the market.”

Madison World, as the group is officially referred to sometimes, is a 19-year old diversified communications group in India with 15 specialist units in the domains of advertising (Madison Creative), media (Madison Media Group), outdoor (MOMS Outdoor Media Solutions), PR (Madison PR), rural advertising (Anugrah Madison), retail design (MRP), shopper marketing (MASH), and entertainment (Madison Teamworks Film Promotions and Entertainment), among others.

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