New Delhi: Within 11 months of going solo in the country by buying out its partner from three joint ventures, Japanese advertising firm, Dentsu is back scouting for alliances with local firms to grow its business in India.
“We would be looking for partnerships...both in terms of collaborations or also in terms of (bringing) investment,” Dentsu Inc general solutions centre Koichi Yamamoto told PTI here at AdAsia 2011.
He said the firm is looking for partnerships not just in investments “but working partnerships as well”.
In January this year, Dentsu had bought out the respective 26% equity stakes held by Mogae Consultants Pvt Ltd, led by president Sandeep Goyal, in Dentsu Communications Pvt Ltd, Dentsu Marcom Pvt Ltd and Dentsu Creative Impact Pvt Ltd.
Yamamoto said the company will be looking for technological partnerships with Indian firms apart from tying up with up business consultancy firms.
“We need technology partner, we need partners from other specialties, we need business consulting partnership,” he said, adding an agency does not work alone in the modern day when there is multiplicity of requirements.
In order to speed up its growth in India, Dentsu plans to bring in more local talents at the management level, he said.
“We have been growing but not in the way we wanted to in the last three years or so. That’s the reason why we shuffled the management here,” Yamamoto said.
He said the reason for discontinuing its previous partnerships in India “is that we want to grow faster than our partners did.”
India and Brazil are two strategic markets and Dentsu plans to tap the social media as a platform for marketing and communication, he said.
“Like anywhere in the world, using social media in marketing is a trend...social media plays a part of the whole branding mix...besides, In India there is lot of diversity... how to tackle the diversity is an interesting challenge,” Yamamoto said.