Omnicom Group’s Indian agency Mudra has bought a majority share in the country’s biggest promotion shop, Kidstuff Promotions, New Delhi.
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| Pankaj Wadhwa |
Mudra bought a 74% share in the agency, whose top clients are Unilever, Pepsi and Intel. Kidstuff founder Pankaj Wadhwa keeps the remaining 26% of ownership.
Ten-year-old Kidstuff will operate as a separate division of Mudra. The promo agency billed about $444,000 in 2004; Mudra billed about $187 million via its Mudra Advertising and Mudra Total Branding Solutions divisions.
Mudra and Kidstuff share a few small clients (HBO, packaged goods marketer Dabur and Coffee Day) and have no client conflicts. The deal was completed on Jan. 19.
“We are setting up a joint design and creative cell. Over the next 18 months, we will also be looking at [developing] out of home, digital solutions, research, retail merchandising and database marketing through this association,” Wadhwa said.
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