The Muthoot Group has awarded the creative duties of its FM venture, which is slated to go on air in April 2007, to Rediffusion DY&R, Chennai, following a multi-agency pitch. The Media Edge, the media buying arm of Rediffusion DY&R, will be handling the media duties. The ad spend is pegged at Rs 1 crore.
Confirming the development, Sunil Kumar, a spokesperson for Muthoot Group’s FM venture, said, “We have chosen Rediffusion as our creative agency as their thinking was in sync with our requirement. The work Rediffusion has done for Muthoot Group’s hospitality and banking units is also encouraging. The deciding factor, however, was Rediffusion’s knowledge about the city and its ability to think locally.”
Quite a few agencies, including some top agencies, were in the fray for the business.
The Muthoot Group, one of the largest business groups in India, is into diversified domains such as finance, healthcare, education, hospitality, and real estate among others.