Famous Innovations reports Rs 26.85 cr revenue & 13% growth in PAT in FY19
The agency saw a 24% jump in revenue in FY19 when compared to the previous financial year
Despite slowdown blues that the industry has been grappling with, Famous Innovations, an independent agency, has reported a 24 per cent jump in revenues and 13 per cent growth in profit after tax, for the year ended March 2019.
The agency’s revenues stood at Rs 26.85 crore and Profit After Tax was Rs 2.92 crore for the said year, as compared to Rs 21.67 crore of revenues and a Profit After Tax of Rs 2.59 crore for the year ended March 2018.
According to financial data accessed by business intelligence platform, Tofler, the company’s net worth is at Rs 17 crore.
The agency has recently completed five years of its operations. “I would say the last 5 years were about setting our base. The next 5 now should be just about good work. We need to live up to our last name and put our efforts behind the right kind of ideas,” Raj Kamble, Founder and CCO, Famous, told exchange4media.
Kamble who has been working for big network agencies all his life believes that independents are the future. “Because in these turbulent times, we have the freedom to adapt faster,” he remarked.
Instead of staying cocooned in a fatter paycheque, he quit his job as MD of BBH, to set up Famous Innovations in 2014.
Narrating the incident he said, “There was always this nagging feeling that who am I really working for? I saw Famous as a chance to create a meaningful difference and bring together people who believed in each other and in our cause. That’s why I decided to start up!”
He defines the agency as a bunch of hungry and angry kids fighting the fight for good creative work. “Famous is made of hybrid people who are hard to define in one box. They think of this place as their own and treat it accordingly. Entrepreneurial mindset means to get things done, no matter what. That makes the culture very open, agile and free. No hierarchy, no politics, just work work work,” he remarked.
And according to him that sure has paid off. “This year we’ve been the most awarded Independent agency if you add up Kyoorius, Cannes, Spikes, Effie’s, etc. It was especially a moment of pride when we won more Blue Elephants in the Creative Awards at Kyoorius than Ogilvy - an agency that’s easily 10 times our size. Our recent work for Platinum Jewellery and Burger King has created quite a stir,” he exclaimed.
Nestle’s #EducatetheGirlChild movement, Mahindra Rise, Baggit #PutItOntheTable, monster.com and all the Raymond work, which was the agency’s first claim to fame, in some ways are works that Kamble holds close to his heart.
And the agency has its own set of quirks. One such incident is when the team decided to adopt a real lion instead of entering a Cannes Lion.
Recounting the memory, Kamble shared, “A few years ago, some people in my office realised that the Victoria Zoo (which is very close to our office) was struggling big time. Visitors were disappointed because the Zoo didn’t have any lion. So they got this cheeky but good-hearted idea that instead of entering Cannes awards, why don’t we use that same budget to adopt an actual Lion. I loved it and that’s what we did! We adopted a Lion and named him Cannes! And he’s still our baby and anyone who wants to visit him and say hello can get in touch with us.”
To Kamble, the biggest high through the journey is seeing the 120 people of Famous and how they have really made friendships that will last a lifetime. “It’s been 5 years of growing strength to strength and creating something we can all be proud of. My high is seeing someone who sat in a plane for the first time when we took a trip to Thailand and someone whose parents visited the office the other day and said they feel like their kids finally found focus at this agency. Of course, given this attachment, my biggest low is when people leave. But that’s a part of the journey,” said Kamble.
After setting up offices in Mumbai, Delhi and Bangalore, where has the team now set his sight on? New York? “Give us a break. We are just five years old,” exclaims Team Famous.
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