The Hindu Business Line : Mudra scouts for new agency brand

IN spite of having a second agency within its fold, the Rs 850-crore Mudra Group is on the look out for yet another brand to give a boost to its business.

Speaking to Business Line, Mr Madhukar Kamath, Managing Director and CEO, said, "A second brand within the group gives you more opportunities. We could be looking at a new agency brand or it could even mean strengthening our existing second agency, Interact Vision.''

With intentions of having a strong second brand within the group, Mudra is expected to announce the name of its second agency later this month. "These things take time and there are various solutions being considered and we have still not frozen our plans,'' stated Mr Kamath.

Interact Vision was set up in the '90s and has always been treated as a small venture within the group. With a chequered history, the agency has been more of a venture based out of Delhi handling accounts such as that of Safal (Mother Dairy) and Amway.

With billings turnover of nearly Rs 20 crore, Interact Vision has kept a low profile within the Mudra Group.

Planning to take forward its second agency brand, Mudra has decided to embark on a slew of activities, which could range from collaborations to acquisitions.

"We are looking for any brand which has a distinctive identity and profile to get a larger market share for the group,'' states Mr Kamath.

Mudra is targeting the existing Indian agencies with the potential of being developed into a strong brand within the Mudra fold, with a view to garnering some extra business for the group.

Meanwhile, the Reliance Infocomm account has been opened for a fresh pitch in spite of Mudra handling the account since inception. Even the media buying for the account rests with OMS (Optimum Media Solutions), Mudra's Media planning and buying agency.

Claims Mr Kamath, "The Reliance Infocomm business is large and it is best that the Reliance Infocomm Officials give an answer as to why they have called for a pitch.''

Besides under its umbrella brand of Total Branding for all its below the line communications solutions, Mudra expects its digital branding solutions to grow at 100 per cent this year. This would be followed by Primesite (outdoor media), which is expected to grow at 50 per cent this year.

Mr Kamath also made it clear that with the entry of global media players such as Omnicom set to make a foray into the media business, OMS would continue to remain an independent unit within the Mudra Group without any global affiliations.