New Delhi:Initiative, the global full service media agency of IPG Mediabrands, on Thursday announced that it had won the media mandate of Anchor Electricals, the electrical arm of Panasonic Corporation.
The agency will be responsible for the media strategy, planning, buying and implementation for all brands under Anchor Electricals for both mass media and out-of-home. The account, estimated to be around ₹ 100 crore, will be managed by the agency’s Mumbai office.
Omnicom Media Group is the incumbent media agency for Anchor Electricals.
“Anchor by Panasonic is a leading electrical brand in the Indian market with sales of ₹ 3,550 crore in the current financial year, through a diverse product portfolio spanning seven product verticals. As a company, we are strategically aligning ourselves to substantially improve consumer connect. AEPL would aggressively use mass media in building salience and creating awareness for its businesses in the months to come," said Vivek Sharma, managing director, Anchor Electricals Private Limited (AEPL).
Established in 1963, Anchor Electricals Pvt. Ltd, a wholly owned subsidiary of the Panasonic Corporation, produces low-voltage electrical switches and accessories, switchgear and protection devices, wires and cables, lamps and luminaries, and fans. The company also sells home automation products from Panasonic.
Vaishali Verma, chief executive, Initiative, said, “This is one more prestigious addition to our esteemed portfolio of clients. We look forward to working with Anchor and creating cutting-edge, strategic media solutions. Working with an ambitious company like Anchor is a great challenge and we look forward to creating impactful business solutions through our proprietary global tools."
The company’s creative mandate has been awarded to Publicis Groupe owned creative agency Leo Burnett.
Headquartered in Mumbai, Anchor Electrical Private Limited became a subsidiary of Panasonic Electric Works (now Panasonic Corporation) in 2007. Its sales and operating profits are steadily growing and it ended the last financial year with net sales of ₹ 29.36 billion. The company said it aimed to double its turnover in the next three years from existing and some new product categories.