| Though the deal is yet to be formally
inked, in-principle it has been decided that Grey Worldwide would
be looking after the advertising account of Haier. The account is
said to be worth approximately Rs 150 million, according to advertising
industry sources. Haier, considered to be 'the most valuable brand'
in China, is expected to launch its operations by this year-end in
India.
The Chinese consumer durable major, that has a presence in China,
the US and Europe, recently got its proposal cleared from the Foreign
Investment Promotion Board (FIPB) for setting up a 100 per cent
subsidiary in India.
Grey Worldwide refused to share information with indiantelevision.com
except for the fact that the agency had discussions with the client.
"We have had discussions with them. Since the operations have
not started completely yet,
we can't comment on this," a senior executive in the agency
said. While admitting that the Delhi office had made a pitch for
the Haier account, Grey's regional office in Hong Kong too did not
reveal any further information.
Haier had allotted Grey an assignment in the Chinese market and,
accordingly, the discussion started taking shape even in India.
Haier was incorporated in 1984 producing household refrigerators
and, over the past 18 years, has grown and prospered as a transnational
company. It now manufactures a wide range of household electrical
appliances in 86 categories with 13,000 specifications and export
products to more than 160 countries. Haier's global sales in 2002
totaled RMB (Renmimbi - the official Chinese currency) 71.1 billion,
including an overseas turnover of $1 billion.
The Chinese company's international promotion framework encompasses
globalised trading, design, production, distribution and after-sales
service networks. The company now has established 18 design institutes,
10 industrial complexes (one in USA, one in Pakistan, five in Qingdao,
one in Hefei, one in Dalian and one in Wuhan), 13 overseas production
factories, 58,800 sales agents and 11,976 after-sales services throughout
the world. Haier's current domestic market share for refrigerators,
freezers, air-conditioners and washing machines is about 30 per
cent, respectively.
The products are marketed to 12 of 15 European and nine of 10 American
top chain supermarkets using local facilities and labour forces
for design, production and sales in the United States and some European
countries.
Haier's goal is to obtain worldwide recognition and to become a
Fortune Global 500 company.
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