Following a multi-agency pitch, Jyothy Laboratories has awarded the media planning mandate for its newly acquired Henkel portfolio to DDB Mudra Max, whereas LMG has secured the media buying duties for the same. K Raghavendra, general manager, marketing services, Jyothy Laboratories, has confirmed these developments to afaqs!.
The total business is estimated to be worth Rs 150 crore.
N P Sathyamurthy, president and head, media, DDB Mudra Max, tells afaqs!, "Given the brand portfolio of Jyothy Labs and the market level challenges for growth, DDB Mudra Max looks forward to deliver superlative grass root level solutions.
We have worked with Jyothy Labs for over a decade and it is our capability to deliver end-to-end brand solutions based on sound consumer and market insights that assisted us to win the business."
Suresh Balakrishnan, who steered the pitch along with Premjeet Sodhi at LMG, comments on securing the buying mandate, "We have worked on Jyothi Labs for three years and the client was pleased with our ability to optimise its spends. We look forward to work on the combined Jyothi-Henkel media buying responsibility."
For the record, in the second half of 2011, FMCG company Jyothy Laboratories acquired South-based Henkel from its parent company in a bid for a turnaround. According to sources, it plans to reposition Henkel products in a few weeks' time.