Percept has announced its target of becoming a $1 billion company by 2010 at its recently concluded international conference held in Mumbai.
Speaking on the occasion, Harindra Singh, Vice-Chairman and MD, Percept Holdings, said, "Our strength stems from the fact that we have some of the best brains in the communications, media and entertainment industry. We are taking an aggressive stance looking at the future of Percept, not just in numbers, but in terms of market share and size. The challenge is to continuously sustain our growth on a year-on-year basis. The 2010 figure of $1 billion is just a benchmark figure. Looking at the market opportunities and our strengths, I am sure we will be well past this figure, come 2010."
The Percept Annual Conference is held for the senior management of all the Percept Group companies from across the world. It is a platform where the companies recap upon the past year and share their vision and plans for the future.
Shailendra Singh, Joint Managing Director, Percept Holdings, said, "The opportunities out there are immense. We will do that extra bit to sniff out these opportunities and utilise the potential of the market to the fullest. Strong economic growth along with booming young adult population with unprecedented levels of disposable income have made people more conscious of the latest trends and fashion. Entertainment is no longer a luxury. It's a matter of identifying opportunities, creating essential content and being visible at every touch point for the consumer."
This year's conference had stalwarts from the industry like Kishore Biyani, CKO of Pantaloons India, and Mike Cooper, CEO Asia-Pacific, OMD (Omnicom) address the gathering.
Speaking on the retail business, Biyani said, "We realised that there was a lot of opportunity in the branded apparel business and our organisation was designed to capture and exploit these opportunities. We believe that more consumption will help the economy to grow further. Retail is the forefront of our business, which brings in our customers. We are building brands, which we can differentiate and sell to the customer. We are building spaces where we can sell all our retail concepts and brands, and media is an opportunity which we are looking at cashing in because of the footfalls it brings in."
Mike Cooper covered the arena of New and Future Media. He said, "Some of our biggest clients across the world are McDonalds, Nissan, J&J and Pepsico, and you will not go through a single meeting with their media personnel without talking about high-growth media. When we try and summarise modern media, there are three major trends that we look at that are like tectonic plates moving together. The first, Consolidation, is seen in media all over the world. Atomisation is the other trend where it has become very difficult to reach the consumer easily because of the fragmentation of the media. The third trend is Convergence and is a very fascinating one, with TV shows on Intranet and music release in gaming."
The conference concluded with the Percept Excellence Awards Night to reward the Best Performers from across the Group.