Madison bags Kotak Mahindra group's media business

MUMBAI: Madison Media, part of the Rs 5.5 billion Madison Communications, has bagged the media account of Kotak Mahindra, one of India’s leading financial institutions that offers diverse finance solutions, with immediate effect.

Madison Media emerged winner in a hotly contested pitch in which leading media specialists such as Starcom and Mediacom participated. Madison Media's CMD Sam Balsara states: " The finance sector has seen a surge in advertising activity and the need to stretch the rupee and get more bang for the buck has never been felt more, in this sector. I am particularly pleased that Madison Media has been chosen to meet this challenge." The release also states that Kotak Mahindra Group is expected to foray into a new area which is likely to take its media spends substantially. Sources claim that the new area is Kotak Mahindra group's transition into a universal bank.

In February 2002, Kotak Mahindra Finance (KMFL) received Reserve Bank of India's clearance to convert itself into a full-fledged universal bank before March 2003. The company will begin operations as a commercial bank soon with an initial capital of Rs 2 billion. The non-banking finance company has no plans to raise fresh capital after becoming a bank. Kotak Mahindra group's net worth is over Rs 9.3 billion and it services a customer base of nearly 5,00,000. Kotak Mahindra offers several services: corporate finance, retail finance to investment banking, mutual fund, to life insurance. Madison Media's COO (West) Punitha Arumugam who led the pitch says that her team will make media a key driver to build the various brands of the Kotak Mahindra Group.

Media reports indicate that the company will have a net worth of Rs 5.50 billion All the companies in the Kotak Mahindra group that offer allied financial services will become subsidiaries of the new bank.

The subsidiaries include Kotak Mahindra Asset Management Co, Kotak Mahindra Primus, which is a car-finance joint venture between Kotak Mahindra and Ford Credit, Kotak Mahindra Capital Co, Kotak Mahindra Securities, both of which are joint ventures between Kotak Mahindra and Goldman Sachs.

The company's core businesses will be the focus of the bank too. KMFL is also active in commercial vehicle finance, personal loans and asset reconstruction. The new bank will be an important channel for the distribution of Om Kotak Mahindra Life Insurance's products.

However, the insurance business of Om Kotak Mahindra is scheduled to move to Madison Media from 1 April 2003. Om Kotak Mahindra had a budget in excess of Rs 150 million.

Kotak Mahindra has international partnerships with Goldman Sachs (one of the world’s largest investment banks and brokerage firms), Ford Credit (one of the world’s largest dedicated automobile financiers) and Old Mutual (a large insurance, banking and asset management conglomerate).

Madison Media already handles a number of prestigious clients such as Coca Cola, P&G, Godrej Consumer Products, Godrej Sara Lee, Kinetic, Maruti Udyog, BPL, Zee's Playwin, Ozone Pharma, Top Ranen and IFB. Madison Communications has specialised units in creative, media, public relations, rural, outdoor and merchandising.


Latest Reads
Radio City makes us experience Mumbai

Radio City has created a campaign that makes us experience a city even with eyes shut. The film Taxi Driver, is based on this emotion. To make this idea more experiential, the thought will be adapted in print, on-air, digital and on-ground.

MAM Marketing MAM
MP Birla Chetak Cement's new TVC is truly Rajasthani

MP Birla Chetak Cement has rolled out a new TVC conceptualised by Ogilvy Kolkata and produced by Conversation Films.

MAM Marketing MAM
Hitachi's new automated service platform

Hitachi Systems Micro Clinic, system integrator and a specialist in managing end-to-end IT infrastructure solutions and services, has announced the launch of an automated service delivery platform Hawkeye 3.0, which aims at enabling organisations to increase productivity and efficiency. The...

MAM Marketing Brands
The ins and outs of femvertising

MUMBAI: How many times have you come across ads that seek to empower women and ask them to take on the world (at times by using their product)? The general tendency of advertising in the seventies and the eighties was to objectify women in order to fascinate the ‘male audience’ to buy their...

MAM Marketing MAM
Fogg maker takes on fairness creams with Pretty24

Taking a stab at fairness creams’ perennial message of fair skin being the benchmark beauty and success, Fogg deodorant maker Vini Cosmetics (Vini) is touting the idea that every shade of skin is equally beautiful. The company has been plugging the primetime of mainline television channels for the...

MAM Marketing MAM
55% marketers make better decisions with machine learning: iProspect report

MUMBAI: Digital agency iProspect has released its third annual Future Focus whitepaper geared to examine how machines and technology are impacting marketing and advertising in the year ahead. The paper takes a look at how brands can make the most of machines in 2018, from facilitating seamless...

MAM Marketing MAM
Paisabazaar aims Rs 1500 cr mutual fund AUM by 2018

MUMBAI: Paisabazaar has announced that assets under management (AUMs) garnered through its mutual funds products crossed Rs 1000 crore mark last month. The organisation says it is confident of reaching Rs 1500 crore of AUM by March 2018. The fin-tech company launched mutual funds on its platform...

MAM Marketing Brands
Blackberrys gives digital mandate to FoxyMoron

MUMBAI: Menswear fashion brand Blackberrys has assigned its digital mandate to FoxyMoron after a multi-agency pitch. The account will be managed from the agency's north office. As per the mandate, FoxyMoron will be managing the digital creative, media, search engine optimisation as well as website...

MAM Marketing Brands
Kajaria Ceramics launches campaign with Anushka Sharma

MUMBAI: Kajaria Ceramics through its subsidiary Kajaria Bathware has launched a 360-degree marketing campaign with Anushka Sharma who was recently announced as the brand ambassador. By investing in this marketing campaign and an extensive distribution network Kerovit, the bath solutions brand by...

MAM Marketing MAM

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories