Planet & #BANNER1 & # M Retail, the music retail store earlier known as Planet M, has appointed TBWA Mumbai as its creative agency. The win follows a multi-agency pitch by four agencies, including TBWA.
The advertising and marketing spend is estimated to be around Rs 20 crore, which includes multimedia as well as below-the-line activities. The business will be handled by TBWA Mumbai. Planet M was taken over by Next Retail, the retail arm of Videocon, in November 2007. The new entity, Planet M Retail, is considering advertising for the first time after the takeover.
Subir Ghosh, chief executive officer, Planet M Retail, says, "We have aggressive growth plans and we are looking at redefining our business. TBWA, with its disruption philosophy, is the perfect fit for our ambitious endeavour. Its creative idea for the brand was not only an advertising campaign, but centred round the experience we are defining for our stores. This gave us the confidence that it could partner us in our business, rather than just being the supplier of our creatives."
Mohan adds, "Obviously, we are very happy to get the opportunity to partner Planet M Retail. But, in all honesty, TBWA's job becomes simpler when the client already has a disruptive vision for the business. Perhaps, Planet M found our disruption practice the perfect way to carry forward its brand vision."
Planet M, the music retail chain was orginally set up by The Times of India Group. It has more than 140 stores spread over a number of cities in India. The stores mainly sell various kinds of music and DVDs and VCDs of movies.