Spice Group has appointed Madison Media Group as its media AOR. The AOR will be handled through its unit, Platinum Media, headed by Basabdatta Chowdhury. No pitch call preceded the win. Size of the business is in the region of Rs 25-30 crore. The decision came after careful consideration of Spice’s future growth trajectory, business expansion plans and strategic growth intent. Platinum Media will replace Mudra Max as the Group’s media agency, whose mandate had come to an end earlier this year. The creative duties continue to be handled by Contract Advertising.
Spice Group, chaired and led by Dr BK Modi, comprises four verticals – Spice Televentures, which includes Spice Retail, Cellebrum Technologies Ltd, Spice Mobiles Ltd, Spice BPO Services, and Mobisoc Technology Pvt Ltd; Spice Enfotainment, which includes Spiceworld Malls, Spice Cinemas (movie exhibition), Spice Circle Restaurants and Music and Gaming; Spice Investment and Finance Advisors (under the brand name Spice Bulls), which looks at Asset Management & Strategic PE investments; and Spice Innovative Technologies, which focuses on IT, broadband and Internet services, and IT distribution, among others.
Commenting on the new partnership, Naveen Paul, Corporate Head – Brand Spice Group, said, “We are happy to announce Madison as our new partner and I’m sure they will add significant value in building the Spice brand. At the same time, I would like thank Mudra Max for their support over the years.”
“We at Spice are now witness to and part of a new growth trajectory. The group has been undergoing dynamic changes within, in line with a highly competitive and rapidly changing market. We felt that we require an agency who could deliver on strategy, planning, and on-timed execution to build the resurgent Spice brand. We saw Madison as a natural fit for our requirements in terms of their reach, size, credibility and strategic capabilities,” Paul added.
Basabdatta Chowdhury, CEO, Platinum Media, added, “We are very happy to associate with Spice, who, in our view, is poised to become a significant player within the mobile eco-system in times to come and are looking forward to a long and successful association.”