Publicis takes majority stake in Law & Kenneth, merges it Saatchi & Saatchi India [Updated]

30 Jan,2014

 

By A Correspondent

 

It’s not an acquisition like various others. Paris-based Publicis group has acquired a majority stake in Mumbai-headquartered full-service independent agency Law & Kenneth (L&K). In turn, L&K has merged with the India operations of the group’s Saatchi & Saatchi and taken full management control of the agency.

 

Anil S Nair (CEO & Managing Partner, L&K S&S), Sandhya Srinivasan (CSO & Managing Partner, L&K S&S) and Anil K Nair (CEO & Managing Partner, Digital L&K S&S)

The baton was in fact passed on to the L&K bosses some two months back, and once Saatchi’s key clients like Procter & Gamble were taken into confidence, the deal was announced on Thursday. Saatchi & Saatchi India will be re-branded L&K Saatchi & Saatchi.

 

Law & Kenneth Chairman and Managing Director Praveen Kenneth will manage the new entity in the same role. He will join the Saatchi & Saatchi Asia-Pacific board and will work with Chris Foster, Chairman and CEO of Saatchi & Saatchi APAC. L&K’s core team of managing partners – Anil S Nair (CEO), Sandhya Srinivasan (CSO) and Anil K. Nair (CEO, Digital L&K) will take charge of the new company.

 

Interesting Kenneth was CEO of Publicis India from 1999-2003. In 2004, he and British adman Andy Law founded L&K along with investor and co-founder Anita Roddick of The Body Shop. Pre-merger, the agency served a cross-section of local and global clients, including Renault, Dabur, Tata AIG Insurance, Godrej, ITC, Reliance, Idea and Hero MotoCorp.

 

According to industry estimates, the combined entity will have a turnover upwards of Rs 100 crore, with more than 75 per cent contribution from the erstwhile L&K’s clients.

 

Said Maurice Lévy, Chairman and CEO of Publicis Groupe in statement: “”We are excited to be adding the breadth and depth of talent and resources of Law & Kenneth to  the Saatchi & Saatchi network in  India. We are glad to be welcoming Praveen back into the Publicis Groupe family.”

 

Praveen Kenneth

Said Kenneth: “L&K was born out of passion and our story is an example of the Saatchi & Saatchi spirit of ‘Nothing Is Impossible’.” While what Publicis brings to the table is the financial muscle and international scale, Kenneth & Co will drive the enterprise hard. “The combination of L&K’s stability, size proven success and experience in India’s dynamic marketplace, together with Saatchi & Saatchi’s iconic status and mystique, results in a creative powerhouse that is L&K Saatchi & Saatchi,” Kenneth added.

 

The Publicis group has been on an acquisition spree in recent years and employs 3000 professionals across 10 global media service networks in India.

 

Post a Comment 

Comments are closed.

Today's Top Stories
Videos