Wpp To Pick Up 30% In Equus

Koreas largest advertising agency, Korad, will pick up another 30 per cent in the agency. The government approval for this came through early this week.

Equus managing director Suhail Seth and his brother will keep the rest 40 per cent stake.

This is first time WPP is investing directly in an Indian ad agency. It has stakes in three other advertisement agencies in India Ogilvy and Mather, HTA, and Contract but through their respective parent companies abroad.

In the next two years, the foreign collaborators of Equus will be investing approximately Rs 5 crore in advertising and marketing services in India and South East Asia.

WPP and Korad will help Equus to get a transnational look by allowing to service their clients in India, Suhail Seth told Business Standard.

The expansion plans of Equus also envisages opening of offices/branches in other South-East Asian countries.

However, Seth did not give details of their expansion outside India. We are still in the process of indentifying the countries where we will open up offices, he said.

Equus clients in India include Daewoo, Apollo Tyres, Benetton and the Spectrum group which publishes the A&M magazine.