WPP to acquire Ray & Keshavan
Having got the Foreign Investment Promotion Board (FIPB) approval for acquiring Ray & Keshavan Design, the WPP Group would be entering the area of specialised design in the Indian market. Considering that none of the WPP agencies currently give any specialist offerings in this area, Ray & Keshavan’s expertise in design will give a boost to WPP’s total communication package in the country.
Speaking to Business Line, Mr Ranjan Kapur, Country Manager, WPP, said, "Presently WPP has got the FIPB approval for acquiring the company in India. The acquisition is important for WPP since it will enhance the total consumer basket for the group. Ray & Keshavan will be an important partner." With access to WPP’s international clients, the acquisition will help the design company expand its portfolio of clients. As Kapur points out, "It will open up a whole new avenue of international clients for Ray & Keshavan and give the company greater opportunity in the international market."
Services
In the Indian market, the design company has already been working with clients such as Wipro, Infosys, Hindustan Lever, ITC and Bharti’s Airtel brand. It offers services such as brand identity, interactive design, print, packaging and environmental graphics.
With the WPP Group proposing to pick up a 100 per cent stake in the design company, it would give the latter a chance to bring in its own expertise while working with its Indian clients and servicing the international market for WPP’s clients.
"The acquisition is expected to benefit both parties. While Ray & Keshavan bring in its Indian experience, it would also draw from the international experience of WPP," added Mr Kapur.
More opportunities
With the WPP Group fast expanding its operations in India, the acquisition of the Bangalore-based specialised design house would mark its beginning in the area of design. "None of the existing WPP agencies have specialised design functions and this would give a greater opportunity for the group in India," said Mr Kapur.
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