LS Digital restructures operations, set to expand into US

  • LS Digital has reorganized after integrating three agencies—Langoor Digital, F1 Studioz, and Social Panga. The new structure has six CEOs, each heading a business vertical, to drive innovation and integration across its divisions.

Gaurav Laghate
First Published19 Jun 2024, 06:00 AM IST
LS Digital co-founder and CEO Prasad Shejale.
LS Digital co-founder and CEO Prasad Shejale.( )

Mumbai: Former Blackstone managing director Mathew Cyriac’s Florintree Advisors-backed LS Digital has integrated three agencies—Langoor Digital, F1 Studioz, and Social Panga—that it acquired over the last two years. The digital business transformation (DBT) company has now unveiled a new organizational structure with six chief executives, one for each division it operates.

Under the new structure, the founders of all the acquired agencies have been named co-founders of the holding company LS Digital.

"Each business unit within LS Digital leverages the strengths of the group's companies, supported by group-level growth and enabling functions. This strategic set-up ensures that LS Digital delivers innovative, integrated solutions that align with its DBT vision," said Prasad Shejale, founder and CEO of LS Digital.

Six verticals of excellence

"Our restructured organization is built around six verticals of excellence, each underpinned by robust growth and enabling functions. This set-up is designed to propel our strategic initiatives, bolster our growth targets, and facilitate seamless integration across the group. Additionally, it harnesses our individual skills and entrepreneurial spirit at the group level, enhancing integration and fostering collaboration," he added.

As part of the reorganization, chief financial officer Anand Bhadkamkar has been given the additional responsibility of chief operations officer (COO). The current COO, Rupak Ved, will drive the growth initiatives across the group as chief business officer (CBO).

Anuraj Gupta (EVP - growth, India and MEA), Sudhindra CN (EVP - growth & strategy), and Pawan Wankhede (MD, UK) will report to Ved.

Venugopal Ganganna (Venu), founder of Langoor Digital, will assume the role of co-founder and chief innovation officer for the group.

Meanwhile, the six DBT verticals have been structured into distinct business units, each headed by a chief executive. Himanshu Arora has been named CEO of Creative; Saurabh Das as CEO of CX; Vinay Tamboli as CEO of Data & Insights; Maanesh Vasudeo as CEO for Media; R Sridhar as CEO of Tech & Innovation; and Santosh Shukla as CEO for UI/UX.

LS Digital, which ended the last fiscal year with a gross revenue of over 1,700 crore, has expanded into the UK and Middle East. The company is now in advanced discussions with a US-based agency to form a joint venture and expand into that market.

Read | LS Digital enters UK, eyes Europe and US markets

"We are now starting to be ambitious," Shejale told Mint. "After the UK and Dubai, we are planning to expand into the US soon. We are close to signing a JV with a large consulting company in the US, which does very high-end work. We will be the majority partner in the JV and will start operations there soon."

Last year, Mint reported that LS Digital, formerly known as Logicserve, is pursuing an ambitious global expansion strategy, with its entry into the UK market following a successful foray into the Middle East and Africa (MEA) regions post-covid.

"We have been growing at a CAGR of over 40%. Our data & insights business is growing much faster, delivering a 12-15% increase month-on-month. Even when media spends were subdued in the last three quarters, we thrived due to our integrated offerings. We are already looking at a minimum of a 50% EBIT growth in FY25 and the first two months have surpassed our targets," Shejale added.

The company has over 1,200 employees across 12 offices in India, the UK, the US, and the Middle East.

Also read | Germany's Hansgrohe accelerates India expansion with ambitious retail strategy

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First Published:19 Jun 2024, 06:00 AM IST
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