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Paras moves out of Triton after 18 years
Management change is touted as the reason why the pharma company let go of its 18- year association with Triton
Moov, Ring Guard and Set Wet (which includes hair gel and the body spray, Set Wet Zatak) are no longer aligned with Triton Communications. From April 1, the agency that has been associated with Paras Pharmaceuticals, the mother company, for close to 18 years, will no longer work on these brands.
Only recently, Triton had created a new campaign -- a spoof on the Axe campaign -- for Set Wet Zatak.
afaqs! has learnt from its sources that the three brands have already been assigned to two agencies. Mudra, which already handles many Paras brands -- Dermicool, Itchguard, Krack, Borosoft and D’Cold -- is most likely to handle one of the brands. The other two brands are expected to move to a middle-level agency.
However, when afaqs! spoke to Jignesh Shah, general manager, marketing, Paras Pharmaceuticals, he said, “We are at the fag end of finalising this.” He confirmed that the three brands have moved out of Triton, although he declined to reveal the reasons behind this decision.
In April 2008, Actis, a private equity firm (PE), took over Paras Pharmaceuticals by buying 60 per cent of the company’s stake. The PE firm also brought aboard a new CEO. Originally, Paras was a family-run business of the Ahmedabad-based Patel brothers, Girish and Darshan, who are still part of the management.
On how the loss of Paras impacts Triton, Syed says, “It wouldn’t be right to say that the loss is nothing. Of course, it is big, but life goes on.”
Triton also handles the creative duties for Yes Bank, Nitco Tiles, IOL Netcom, Hamdard (part of which is handled by JWT), Seabuckthorn Indage, Metro Tyres and Fortune Oils, among others.