Last updated : September 25, 2014 04:04 PM
Germany based research firm, has acquired a 51 per cent stake in the Indian marketing and social research group, Mode. The new company will be called GfK-Mode.
GfK is into customer research, retail and technology, consumer tracking, media and healthcare. The Mode Group owns companies such as Consumer Touch India, Mode Modellers, Mode Services, Modus Analysis & Information and Rocol IRO.
The association will benefit Mode and its clients in many ways. Kalyanmoy Chatterjee says, "Our growth has been phenomenal in the last couple of years. Yet we felt that without an international partner, we were missing out hugely on multinational clients. We were on the look-out for an international partner with rich experience. In the process, we initiated talks with several players, but finally settled for GfK." It is learnt that GfK was also on the lookout for an Indian partner and finally decided on Mode.
Mode and GfK will benefit mutually from the deal. "We will benefit from the techniques and expertise in the field of market research that GfK will help us access. In return, we will give them access to the Indian market," says Chatterjee.
The tie-up will bring to India concepts and market research techniques that are used internationally by GfK. Mode will obtain an expanded portfolio and access to GfK's international clients.
For the record, Mode was established in 1981 and, today, it has branches in 13 Indian cities and offers research services in Delhi, Mumbai, Kolkata, Bangalore and Chennai. In addition, it has an office in Dhaka (Bangladesh) through a subsidiary company. GfK was established more than 70 years ago and is Germany's first market research institute.
© 2006 agencyfaqs!First Published : September 25, 2014 04:04 PM