Bangalore, Aug. 10
GfK, a leading market research company from Germany, has acquired a 51 per cent stake in Mode Group for an undisclosed sum. The joint venture would be called GfK Mode.
GfK, which specialises in custom research in the areas of opinion, marketing and social research, is Germany's first market research institute. In addition to 13 German subsidiaries, GfK has more than 130 companies and has 7,600 employees in more than 70 countries.
Ms Petra Heinlein, Management Board member, responsible for the Custom Research division, said, "In recent years, we have been concentrating our globalisation efforts on the US and Latin America, but now, the focus is on our Asian network. With the new presence in China and India, we have established ourselves in the two most densely populated and dynamic economies in the region."
GfK has five business divisions, which includes custom research, retail and technology, consumer tracking, media and healthcare.
The Mode Group comprises Consumer Touch India Private Ltd, Mode Modellers Pvt Ltd, Mode Services Pvt Ltd , Modus Analysis & Information Pvt Ltd and Rocol IRO Pvt Ltd. Mode has branches in 13 Indian cities and has an office in Dhaka (Bangladesh) through a subsidiary company.Mr Kalyanmoy Chatterjee, CEO, Mode Group, said the association with GfK would benefit Mode in imbibing GfK's latest techniques and expertise in the field of market research in India. With GfK's association, Mode also plans to upgrade its BPO set up catering to the market research industry outside India to a knowledge process outsourcing entity.