Percept has announced the rebranding of Posterscope India to Percept Out-of-Home (Percept OOH). Sanjay Pareek will lead the team as President. The former head of Posterscope India, Sanjay Yashroy, had quit the company in December 2006.
The launch of Percept OOH comes on the back of an all-cash deal to buy back all of Aegis Group plc’s shareholding in Posterscope India. As the unit dons a new entity and rechristens itself Percept OOH, Percept IMC has decided to completely overhaul the unit and expand its scope of operations.
This rebranding will also see the birth of three verticals within the company: Percept Outdoor, Percept Retail and Percept Rural. Prashant Gunthey will head the Percept Retail vertical.
Said Pareek, the President of Percept OOH, “The move to the three-vertical business is in keeping with the future potential of the market in these domains. A PWC estimate on the outdoor industry has forecast that it will reach Rs 2,000 crore in 2010, but if the current trends are anything to go by, this figure may be achieved before 2010. Technology and innovation are going to be the two most important growth drivers of this media,” he added.
Commenting on the new vertical, Percept Rural, he said, “India's smaller cities, towns and villages are growing. There's a market out there, and it's waiting to be addressed. In terms of purchasing power, it may not have great depth, but it has enormous width, like the bottom of any pyramid. It is also a market with its own characteristics and its own dynamics. City formulae don't always work here. Therefore, our rural initiative will be targeted to this market, which will require completely different mediums to communicate to the rural customers.”
Gunthey, Business Head-Percept Retail, said, “Our vision is to create an inspired integrated trade and retail marketing services (ITRM) through the fusion of creativity and accountability. There will be a relentless focus on driving clients’ business results at the point of sale.” Gunthey brings over 16 years of combined work experience in retail marketing and advertising.
The OOH revenue projections are at about Rs 200 crore, of which at least 25 per cent is expected from the newly launched retail business in the first year. To start with, it will focus on educating mall owners, vendors and clients about retail as a medium.