Reliance Consumer Products Limited, the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL) has completed the acquisition of 51% controlling stake in Lotus Chocolate Company Limited, the company has said in a press release.

“The stake has been acquired for an aggregate consideration of Rs. 74 crore. The company has subscribed to non-cumulative redeemable preference shares of Lotus for an aggregate consideration of Rs. 25 crore. RCPL has also completed the acquisition of equity shares pursuant to the open offer made under SEBI Takeover Regulations,” read the release.

RCPL has taken sole control of Lotus with effect from May 24, 2023.

In a major milestone, Tribes has acquired full ownership of Ignite and The Max after a 100% stake buyout from DDB Mudra.

Tribes’ journey began in 2015 under the leadership of Gour Gupta. As the former CEO of Clear Channel Mudra and CEO of DDB Mudra Max OOH and Experiential, Gupta acquired Clear Channel's stake in the joint venture with DDB Mudra. With this bold move, he rebranded the company as Ignite Mudra, setting the stage for the emergence of the parent brand—Tribes.

Gour Gupta

Since its inception, Tribes has expanded its portfolio of services, encompassing a diverse range of cutting-edge offerings. In 2018, the agency acquired a 51% stake in DDB Mudra Max, a prominent Experiential & OOH agency, expanding its reach and leveraging a wider network of resources and expertise. The company was rebranded as The Max. 

Now, in a momentous development, Tribes has successfully bought 100% stake from the venture with DDB Mudra, achieving full ownership and control over its operations, signifying a new chapter in the agency's evolution.

"We are thrilled to announce our successful 100% acquisition of Ignite and The Max from  DDB Mudra," said Gour Gupta, Chairman, Tribes. "This strategic move further strengthens our position as India's largest OOH and experiential agency, and we are excited about the opportunities it brings for growth and innovation."

A DDB Mudra Group's spokesperson, meanwhile, said, "We wish Gour and his team the very best in the future. It has been a fruitful partnership and we've done some good work together. As we focus on our core brand, creative and digital businesses, we have been rationalizing our portfolio - starting with the move to a minority holding in this business five years ago. Now that the Max Publicity team is doubling down on their ambitious expansion plans, we are happy to have them take full ownership of our shareholding."

As a fully integrated agency Tribes has a slew of specialist brands under it including Ignite, The Max, Insync, The Tech Company which offer a comprehensive suite of services, including OOH advertising, experiential marketing, activation, digital solutions, and more.

Tribes now has an extensive client roster with over a 100 clients which includes industry giants such as Amazon, Facebook, Google, Honda, Swiggy, Diageo, Michelin, Phillips, OnePlus, Pepsi, Jockey, Yamaha, Kotak Bank, HDFC ERGO, Marks & Spencer, H&M, Godrej, WNS, Aditya Birla, Real Me, HP, Microsoft, Schneider, Government Of India, ITC, Deloitte, PWC, Legrand, MG motors and many more. 

The agency currently has a turnover of Rs 521 crore, revenue of Rs 68 crore and  consolidated capitalized billing of Rs 680 crore.

India's entrepreneurial landscape is as diverse as its terrains and its cultures. Like opportunities, it is also fraught with many challenges. It took the mind and might of a few brave industrialists to shape India's economy and change the course of its economic trajectory.

As a tribute to these visionary business leaders who have contributed immensely to India's success story, exchange4media has started a monthly column "Leading From The Front."

We begin our series with Punit Goenka, The MD & CEO of ZEE Entertainment Enterprises Ltd.

The Minimalist has been onboarded by Henkel Consumer Brands to lead the digital creative mandate for Schwarzkopf India. Following a competitive multi-agency pitch, The Minimalist has come on board as the digital partner with the mission of building Schwarzkopf’s social community and leading the creative communication mandate for the brand.

On the mandate win, Sahil Vaidya, Co-Founder, The Minimalist shared, “Schwarzkopf has established itself as a leading brand in the premium hair care and color category. With their latest offering in India of expert inspired at-home hair color formulations, they continue to bring beauty shoppers never-seen before technologies for superlative results and experience. We are thrilled to be associated with the brand as their creative partners and look forward to building inventive campaigns and engagement ideas. Together, we aim to create a powerful digital community that will add to the legacy of the brand.”

Shama Dalal, Head of Marketing - Henkel Consumer Brands India commented on the partnership, “Our mandate for the recently launched Schwarzkopf Consumer Business Line required a robust strategy that resonated with digitally forward audiences. We’re delighted to partner with The Minimalist and look forward to leveraging their creative delivery & digital prowess to bring alive our brand vision.”

The Union government has extended the tenure Vikram Sahay as joint secretary of the information and broadcasting ministry, according to media reports. The extension is for a period of two years. The current tenure will expire on May 23 until further orders, an official statement has reportedly said.

The tenure extension has been notified by the Appointments Committee of the Cabinet.

BW Businessworld in association with Sustain labs Paris is all set with the 3rd edition of Sustainable World Conclave. The two-day summit assembles experts, leaders, policymakers, and activists from different parts of the country to discuss the theme of India’s big leap with the G20 presidency. The concept behind the conclave highlights the critical role India plays in the global economy and its position as the fastest-growing major economy in the world.

We are honoured to announce Shri Bhupendra Yadav, Hon'ble Union Cabinet Minister of Labour & Employment, Environment, Forest & Climate Change, Government of India, as our Chief Guest for the BW Sustainable World Conclave 2023.

The summit will include of thought-provoking sessions, panel discussions, and keynote speeches from eminent speakers, covering a wide range of matters in regard to the importance of India’s position in the global economy and its role as a significant player in international development initiatives, sustainable agriculture, digital transformation, global governance, renewable energy, responsible consumption, climate change, circular economy, and much more. Furthermore, the summit will also comprehend upon the prospects and challenges of India’s G20 presidency and the aspects of its position in contributing to sustainable development goals.

Navigating the path towards a sustainable tomorrow, BW Sustainable World Conclave 2023 is back with its 3rd edition and is on the look out for business leaders, investors, industry experts, policymakers, social entrepreneurs, NGOs, academics, and students who are passionate about creating a sustainable future for the planet.

Limited seats available: Reserve yours now at bit.ly/BWIMSC2023

The summit is to take place on 20th June 2023 in New Delhi.

Mindshare was awarded seven metals across different categories at e4m Golden Mikes Radio and Audio Awards 2023 on Wednesday, May 17 in Mumbai. This is the 11th edition of the awards, celebrating the best of radio & audio industry. The global media and marketing services agency walked away with 2 gold, 3 silver and 2 bronze metals for its radio & audio campaigns & the magnificent work done in the radio & audio industry.

Mindshare took home 2 gold metals for ‘The Start Stop Antakshari’ campaign- one in ‘Best Use of Radio in launch/relaunch’ category and ‘Best On Air Promotion for/by a Brand- Multiple Station’ categories. The agency bagged two silver metals for ‘The Start Stop Antakshari’ campaign for its client Castrol India Pvt Ltd. in ‘Most effective ad/campaign on radio’ and ‘Best Use of Branded Content or Sponsorship on Radio’ categories and also won a silver metal for ‘Big In India Moments’ campaign for its client Aditya Birla Group.

Adding to the metal tally, the agency bagged two bronze metals- One for ‘Big In India Moments’ campaign for its client Aditya Birla Group in the ‘Best Campaign’ category and ‘Unveil Your Big Year Through Music’ campaign for Aditya Birla Group.

Owing to digitalisation, radio and audio has been expanding its wings and strategically exploring broader avenues. e4m Golden Mikes Radio and Audio Awards 2023 honours the impressive and outstanding work by people who bring out their finest creativity through radio marketing.