Another day dawns and dropping into the inbox is another acquisition by WPP.
Founded in 2010, XMKT Group has four main divisions: events, retail, entertainment (our new/old friend ‘content’) and digital.
XMKT Group is based in Shanghai with offices in Beijing, Guangzhou and Chengdu and smaller operations in 67 Chinese cities. XMT employs about 250 people and key clients include Diageo and Uniqlo.
Despite fears about the Chinese economy and rumblings of discontent in some of China’s further-flung provinces, there’s no doubt that WPP CEO Sorrell still sees it as the best place to invest. He’s also well aware that Omnicom and Publicis are still waiting for clearance from Chinese regulators for their proposed mega-merger, partly intended to boost their combined offering in markets like China.
So the more Chinese businesses he can snap up, the slimmer the pickings for Omnicom/Publicis when it eventually comes into being.