Delhi-based OOH agency Graphisads is in talks with foreign outdoor ad agencies for a joint venture partnership in the fastest growing outdoor medium. The agency is already in talks with a few players based in Europe.
Mukesh Gupta, Managing Director, Graphisads, said that the talks were at the initial stages and “we are waiting for the right offers”.
He added, “Every foreign player needs a local partner to have a firm footing in the Indian market as groundwork takes a lot of time. Hence, I feel it’s feasible for foreign players to get into the Indian market by tying up with a local partner.”
The agency believes with the exponential growth of the retail business in the next few years, outdoor as a medium should grow by over 25 per cent, which offered tremendous scope for out-of-home media players abroad to operate in India in tie-up with local leaders.
Elaborating more on the partnership, Gupta said, “We have limited resources and the growth opportunities in the OOH sector is huge. With the new partner coming on board, we will explore and tap new opportunities, including BOT (Build, Operate and Transfer) projects.”
It is likely to be a 50:50 partnership, however, Gupta didn’t rule out the possibility of the ratio getting changed if they got a good offer.
The reputation of the company and finance would be the core factors that Graphisads would be looking at while selecting a partner. The partnership would entail the agency to expand itself across India. For the record, the agency, at present owns outdoor sites in prime locations in Delhi and the NCR.