MUMBAI: Future Group and Starcom MediaVest Group have jointly announced that with effect from 1 January 2007, all media investments for member companies of the Future Group, will be managed by Starcom Worldwide.
The Starcom responsibility of the Future Group media investment management will be handled by Manish Porwal, who is slated to assume his new responsibility of Starcom Worldwide India-West and South managing director, starting 1 January.
The account will be managed by Starcom in three separate locations in India - Mumbai, Bangalore and Delhi, with central reporting to the marketing team at the group's head quarters in Mumbai. Some of the staff to handle the account will be shifted from Starcom's existing talent pool, while some others will be recruited from the market.
Specific initiatives that Starcom wishes to implement to activate this assignment will be announced in due course.Pantaloon Retail president-marketing Sanjeev Agrawal said, "We are passing through some really exciting times, with consumer spends growing rapidly, and retailing as a business literally exploding. We are a pioneer and leader in the area of retail. We recognize that the media landscape in India is complex and will be even more so in the times ahead. To take us through the challenges and opportunities ahead and help our brand connect with our consumers, we were looking for a new media partner.
Starcom's focus on Return on Objectives [ROO] as a new metric for marketing accountability appealed to us. We were also happy to see that they have built true 360 degrees communication capability over the last few years. These are the reasons we decided to align with them" commenting on the win, Starcom MediaVest Group CEO-South Asia Ravi Kiran said, "I believe we have a complete mind match with the Future Group marketing team. For some time now, we have been proposing a view of the future of marketing and communication which is based on today's market realities of attention-challenged, multi-tasking consumers, and the need to activate all the assets of media owners, instead of just negotiating with them to reduce cost. This is the basis for Return On Objectives, a principle that emphasizes leveraging market opportunities, rather than internal constraints such as minimizing costs.
We hope to deliver engaging consumer connections, using platform-agnostic ideas, activated media owner assets and through-the-line planning and execution capabilities, to the brands of Future Group."
Mumbai based retail group Future Group’s flagship enterprise is Pantaloon Retail in addition to other companies such as Home Solutions Retail India, Indus League Clothing, Galaxy Entertainment and others. the group operates through six verticals: Future Retail (encompassing all lines of retail business), Future Capital (financial products and services), Future Brands (all brands owned or managed by group companies), Future Space (management of retail real estate), Future Logistics (management of supply chain and distribution) and Future Media (development and management of retail media spaces).
