Dentsu Inc. and the Sandeep Goyal-owned investment company, Mogae, have entered the
Middle East with the launch of Dentsu Marcom Middle East FZ LLC.
While Dentsu Inc. holds a 51 per cent stake in this joint venture, Goyal's Mogae holds a 49 per cent stake.
Sandeep Goyal, chairman, Dentsu India, who is also chairman of the new agency's board, says, "The market in the Middle East is unique and growing in leaps and bounds. We see innumerable opportunities to explore this market, which has large local brands and big Indian and international names."
He adds, "The USP of the new company is Dentsu, which is a strong Japanese name and a reputed name in the industry."
Dentsu Marcom Middle East FZ LLC will be headquartered in Dubai. The new agency has already bagged the business of Dubai Police's road safety initiative. It also has the account of Alukkas, one of Dubai's largest jewellery retailers.
In addition, Dentsu hopes to win a Japanese brand, the name of which Goyal declined to reveal. The agency is aiming at a business of S$ 20 million (Rs 84 crore approximately) by 2006.
Goyal hinted that the new agency could create opportunities for overseas assignments for Dentsu employees in India.
He says, "We are working out the details and, if need be, we will have a few of our employees move to the Middle East, but it's still early to divulge any details on that."
Rajesh Aggarwal, executive director, Dentsu Marcom India, will also oversee the Dubai operations. Meanwhile, Manish Vasishta, country head, Zee Arabia, is joining Dentsu Dubai as general manager. Nikhil Ferriera is heading client services.
Dentsu Dubai has acquired a trade licence from the Dubai Media City Free Zone and has an authorised capital of US$ 1 million (Rs 4.3 crore).
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