Advertising agency JWT India chasing K Factor
JWT India, one of the largest advertising agencies in the country owned by Martin Sorrell’s WPP Group, is learnt to be in talks to buy out Delhi-based agency K Factor. The Shivjeet Kullar-promoted agency is learnt to be valued at Rs 2-3 crore.
By Sonali Krishna, ET Bureau |
MUMBAI: JWT India, one of the largest advertising agencies in the country owned by Martin Sorrell���s WPP Group, is learnt to be in talks to buy out Delhi-based agency K Factor.
The Shivjeet Kullar-promoted agency is learnt to be valued at Rs 2-3 crore. According to sources close to the development, K Factor is open to such an exercise as it would give it access to a network that will allow the agency to expand.
Both the companies, however, refused to confirm the development. Mr Kullar, the founder and creative director of K Factor, declined to comment while JWT CEO Colvyn Harris said: ���These are only market rumours.���
K Factor, which came into limelight in 2006 when it won three medals at the ICE Awards at Delhi Ad Club, including a gold medal for a campaign for The Times of India, currently does work for brands such as Revlon, Radisson, JK Lakshmi Cements and Navbharat Times.
For JWT, which predominantly works on large brands, having K Factor under its umbrella will mean access to smaller clients, say sources. Insiders say there would be more clarity on the deal in a couple of weeks. JWT has been very active in the last six months.
The Shivjeet Kullar-promoted agency is learnt to be valued at Rs 2-3 crore. According to sources close to the development, K Factor is open to such an exercise as it would give it access to a network that will allow the agency to expand.
Both the companies, however, refused to confirm the development. Mr Kullar, the founder and creative director of K Factor, declined to comment while JWT CEO Colvyn Harris said: ���These are only market rumours.���
K Factor, which came into limelight in 2006 when it won three medals at the ICE Awards at Delhi Ad Club, including a gold medal for a campaign for The Times of India, currently does work for brands such as Revlon, Radisson, JK Lakshmi Cements and Navbharat Times.
For JWT, which predominantly works on large brands, having K Factor under its umbrella will mean access to smaller clients, say sources. Insiders say there would be more clarity on the deal in a couple of weeks. JWT has been very active in the last six months.
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In January this year, WPP acquired a majority stake in Encompass, an independent brand activation, events and content creation agency, which was aligned with JWT. The agency more recently also partnered with ADK, the third-largest advertising agency in Japan to form a 50:50 JV in India. The new entity called ADK Fortune was formed to focus on cultivating Japanese clients who are either looking to enter India or already have a significant presence in the country.
K Factor was set up in 2004 and positioned as a creative hot shop. Mr Kullar, who founded the agency, is a former JWT hand. The agency���s clients include Unitech, Pioneer Urban, the DS Group, Surya Roshini, PicaDelhi and The Richmond Group. The agency recently started its Pakistan operations.
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