Top Story

Home >> Advertising >> Article

Dentsu buys Mogae’s stake in India ops; Sandeep Goyal resigns as Chairman

31-January-2011
Font Size   16
Dentsu buys Mogae’s stake in India ops; Sandeep Goyal resigns as Chairman

Dentsu Inc has purchased the respective 26 per cent equity stakes held by Mogae Consultants Pvt Ltd in Dentsu Communications Pvt Ltd, Dentsu Marcom Pvt Ltd and Dentsu Creative Impact Pvt Ltd, three full-service advertising agencies established as joint ventures between Dentsu and Mogae. This announcement was made by Tatsuyoshi Takashima, President & CEO, Dentsu Inc on January 31, 2011.

As part of a strategy to grow the Dentsu brand in India, the three companies, together with other companies under the Dentsu Communications umbrella that includes Dentsu Mediatech and Clickstreamers, were integrated into an organisation referred to as the Dentsu India Group.

In accordance with the terms of the transaction, Sandeep Goyal, the incumbent Chairman of the Dentsu India Group, will resign from his position. He will also resign from the boards of the three advertising agencies. Goyal will, however, continue to support the Dentsu India Group as its Founder Chairman. Tanya Goyal will also resign from the boards of directors and will become a Principal Advisor to the Dentsu India Group.

Since the establishment of Dentsu Communications and Dentsu Marcom in 2003, and Dentsu Creative Impact in 2005, Dentsu has been steadily expanding its business in India through the three agencies. In view of the growing importance of the Indian market, however, and faced with the need to provide an increasingly higher level of unique services to its global clients, Dentsu decided that the time had come to make the joint venture companies into wholly-owned subsidiaries. With this move, Dentsu will be able to positively expand its business domain from advertising to other areas such as sports and digital-related services.

According to the December 2010 edition of Advertising Expenditure Forecasts published by ZenithOptimedia, India’s advertising market, which grew slightly in 2009 to $4,463 million, is expected to grow 13 per cent in 2010 and 13-15 per cent in 2011-13, year-on-year. The total projected market size of $7,548 million in 2013, an increase of 69 per cent when compared to the 2009 figure, will make India one of the world’s leading advertising markets.

Yuzuru Kato, the Dentsu Inc Executive Officer in charge of global business development, said, “By making these three companies wholly-owned Dentsu subsidiaries in the rapidly developing and increasingly important Indian market, we aim to enhance our infrastructure to provide the best integrated solutions to our clients in all the business domains. Focusing on the area of communications, we will implement marketing communication strategies that solve the management and business issues facing advertisers and media content companies today. Ideas that reach beyond the imaginable. Technology that crosses the bounds of possibilities. Entrepreneurship that surpasses the expected. We will use these three sources of strength stated in the Dentsu Group Corporate Philosophy to create innovation.”

 

Tags Dentsu Inc Sandeep Goyal Dentsu Communications Dentsu Marcom Dentsu Creative Impact Tanya Goyal

Varun Raina, Marketing Manager, Airbnb India speaks to exchange4media about the successful #LiveThere campaign and how Bollywood helps them connect with its young consumer

Tim Castree is all praises for his team in India and trusts it to be a result of “an excellent execution of agency’s global strategy” headed by Kartik Sharma

Siddharth Dabhade says Criteo’s technology allows brands to engage with shoppers, create relevant experience on retail apps, thereby driving sales and profits

Shantanu Gangane says OTT platform Viu plans around 20+ originals and is all set to enter the Tamil market with a mix of syndicated and original content

right
left
BREAK THE CEILING TOUCH THE SKY 2018 SEES OVERWHELMING INDUSTRY PARTICIPATION 10TH EDITION OF ABC EUREKA AWARDS IN MUMBAI CELEBRATES WORK OF PARTNER AGENCIES EMINENT JURY PICKS LOUDEST’S 100 MOST POWERFUL INDIAN MUSIC BUSINESS LEADERS MODE LOFT BY SABGROUP LAUNCHES SIGNATURE MENSWEAR POWER DRESSING CLOTHING LINE TOP MARKETERS DISCUSS ART AND SCIENCE OF EFFECTIVE LISTENING @PITCH CMO SUMMIT 2018, DELHI THIRD SEASON OF ‘INDIA’S TOP DIGITAL PLANNERS’ RECOGNIZES EXCELLENCE IN THE DIGITAL INDUSTRY WOMEN ECONOMIC FORUM 2018 SEES DISTINGUISHED GLOBAL PERSONALITIES IN ATTENDANCE PEPPER CREATIVE AWARDS 2018 RECOGNIZE THE BEST IN ADVERTISING IN SOUTH INDIA RADIO CITY’S POWER OF RADIO MEET HOSTS TOP ADVERTISING INDUSTRY LEADERS TOP INDUSTRY PERSONALITIES ATTEND ZOOM-MYNTRA EVENING TO CELEBRATE THEIR PARTNERSHIP LEADING MARKETERS, EXPERTS SHARE INSIGHTS ON DIGITAL TRANSFORMATION @ADOBE SYMPOSIUM IN MUMBAI NICKELODEON TRADE PARTY SEES MARKETING INDUSTRY LEADERS AND THEIR FAMILIES IN ATTENDANCE GOLDEN MIKES RADIO ADVERTISING AWARDS 2018 RECOGNIZE INDUSTRY’S MOST DESERVING ACHIEVERS AIMA MANAGING INDIA AWARDS HONOUR THE BEST IN THE INDUSTRY BW BUSINESSWORLD’S GREAT INDIA DEBATE BRINGS TOGETHER INTELLECTUALS ACROSS INDUSTRY SECTORS BW BUSINESSWORLD SMART CITIES CONCLAVE PATNA 2018 SEES EMINENT INDUSTRY LEADERS IN ATTENDANCE EMINENT JURY PICKS WINNERS OF GOLDEN MIKES RADIO ADVERTISING AWARDS MADDYS 2018 SEE TOP ADVERTISING AND MARKETING INDUSTRY LEADERS IN ATTENDANCE LOKMAT MAHARASHTRIAN OF THE YEAR AWARDS 2018 RECOGNIZE EXCEPTIONAL TALENT CNBC-TV18’S INDIA BUSINESS LEADER AWARDS HONOUR HIGH-ACHIEVERS, OUTSTANDING LEADERS AND TOP VISIONARIES

Telugu channel Star Maa is launching two new serials in the afternoon slots on May 21- Kante Koothurne Kanali and Shambhavi

CCI in February fined Google $20 million for abusing its position in online web search and also slammed the company for preventing its partners from using competing search services

Bhattacharya was has now set his sights on entrepreneurship with plans to set up something in content and fashion tech space