Raymond has shortlisted Leo Burnett, RK Swamy BBDO and Contract Advertising for its Rs 45 crore advertising account. The account is currently with Enterprise Nexus, which has handled the account for more than seven years.
Industry sources indicate that a decision is likely to come through by early next week. According to the source, it is for the first time that Raymond would split the major chunk of its business between two agencies.
It was earlier been speculated that the account would move with Rajeev Agarwal to RMG David.
Mr. Rajiv Agarwal at RMG David when contacted by exchange4media denied that the account was moving to RMG David.
With this development one thing is sure that Raymonds is likely to move out of Enterprise Nexus and confirms that relationships do play a key role in advertising business.