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WPP has been tidying up its investments in the important Indian market by selling its stake in a number of joint venture agencies with India’s Rediffusion and its GroupM buying the other half of mobile marketing agency Madhouse which has offices in Mumbai, Delhi and Bangalore.
Under now departed CEO Sir Martin Sorrell WPP feuded with Rediffusion co-owner Arun Nanda (left), every bit as unwilling to be pushed around as Sorrell. Now Y&R, healthcare agency Sudler and Wunderman will be developed as wholly-owned agencies. It’s hardly a coincidence that this long-running feud has only been resolved shortly after Sorrell’s exit from WPP.
WPP India country manager CVL Srinivas says: “India is a key growth region for us and we have a well-defined road map and vision for what we would like to achieve here. WPP is home to some of the best marketing talent in this country and our plan is to steer our agencies to stay ahead of the curve – in terms of both market and client needs, by providing the best-in-class offerings.”
And, just in case you’ve forgotten, WPP reminds us that it “will continue to cater to the market’s growing demand for integrated and innovative marketing solutions, through strengthening its presence in the areas of data, technology, content and creativity.”
Now who does that remind you of?
