Kathmandu: Advertising firm TBWABenchmark of Bangladesh is expanding operations in Nepal to tap advertising potential in the Himalayan country.

The company may enter into a joint venture or set up a subsidiary for its Nepal business.

Optimistic outlook: TBWABenchmark CMD Ashraf Kaiser. Utpal Bhaskar / Mint

“Nepal’s advertising industry is hot. There is a lot of potential with 60% of the 29 million population below the age of 30," said Ashraf Kaiser, managing director and chief executive, TBWABenchmark.

“We have already got the go-ahead to start operations from TBWA and are firming up our investment plans," he said, refusing to comment on the size of the investments.

TBWABenchmark was formed in 2004 when Benchmark, a leading advertising agency in Bangladesh teamed up with New York stock exchange-listed TBWA Worldwide.

Kaiser did not comment on whether TBWA’s Nepal operations would be distinct from TBWA Worldwide India. TBWA, which is part of marketing services conglomerate Omnicom Group Inc., recently completed acquisition of the Indian firm.

He also refused to disclose whether the new operation will be served by media communications firm OMD, which is also owned by Omnicom.

“We will target the service sector and expect to break even within three years of our operations here," Kaiser added.

The advertising industry in Nepal is worth Rs300 crore and is dominated by US-based JWT. TBWABenchmark on the other hand has an annual billing of 25 crore Bangladeshi taka (Rs17 crore).