Sign up for afaqs! Newsletters
Templeton MF's ad business goes to Rediffusion DY&R
The account, estimated to be in the region of Rs 10 crore, was earlier in the custody of Contract Advertising, Mumbai
Global financial powerhouse Franklin Templeton has decided to appoint Rediffusion DY&R as its creative agency for India. The other agencies in the fray were Euro RSCG and Lowe India. The account size is pegged at Rs 10 crore.
Preet Bedi, president, Rediffusion DY&R, confirmed the development.
Franklin Templeton's decision to change its creative partner has come close on the heels of HSBC's ad business going to Contract Advertising. The fallout of this development was that Franklin Templeton Mutual Funds - an account held by Contract, Mumbai for the last four years - was put up for review.
The brief given was with regard to the positioning of the brand, say industry sources. Franklin Templeton India started its operations in 1996 and offer close to a dozen mutual fund schemes and manages assets worth over Rs 17,000 crore. © 2004 agencyfaqs!