Top Story

e4m_logo.png

Home >> Media – Print >> Article

Daewoo defaults payment to its ad agency

06-December-2000
Font Size   16
Share
Daewoo defaults payment to its ad agency

The Indian Newspapers Association has suspended print ads of the Korean firm, as it has defaulted on payments to one of its advertising agencies, Crayons. Interestingly enough it is a paltry sum of Rs 7.16 lakh that has proved to be Daewoo's undoing.

Crayons, which has capitalised billings worth Rs 28 crore, was the regional agency for Daewoo in 1999-2000 and handled the print campaigns for Delhi and near by regions.

Interestingly enough Daewoo's current agency which is Enterprise Nexus has no complaints against the firm. Enterprise was signed on this year by Daewoo and was behind the new look Total Spice campaign for Matiz.

The whole episode throws up an age old problem confronting Indian advertising agencies. Recently AAAI (the Advertising Agencies Association of India) issued a notice that J K Tyres had defaulted payment to the tune of Rs 1.8 crore to O&M. Despite that, another agency, Contract (which interestingly belongs to the same WPP fraternity) picked up the JK Tyres account.

According to agency sources, AAAI is fairly toothless and so often agencies disregard their notices. And while INS keeps a check on print ads, there's no way of enforcing discipline on non print ads such as on television etc.

Tags

Siddharth Kumar Tewary, Founder, Chief Creative, One Life Studios and Swastik Productions, on owning the IP on his most ambitious project 'Porus,' the risk of recovering its cost and his distribution strategy

Webscale plans to build the brand around smooth operations for the e-commerce sector and then move on to demand generation

Shriya Ghate, Business Head, Tinkle, spills the beans on the company's vision for its special line of merchandise launched to celebrate its 37th anniversary, its pricing, marketing strategies, and more

Vivek Patni, Director of Wonder Cement, on the current marketing strategies and challenges that brand owners face

Luis Fonsi, Rita Ora, Jain of Makeba fame , Dimitri Vegas, Jason Derulo, Charly Black and Dasu, J Balvin, Parineeti Chopra, Tiger & Jackie Shroff speak exclusively to the radio channel

The Film-Maker, as the host of ‘Calling Karan’, Will Be Just A Phone Call Away From Listeners Seeking Advice On Love & Relationship

The group aims to double its FMCG turnover to Rs. 1,000 crore over four years.