Mumbai: R K Swamy and BBDO have decided to separate after 37 years together.
The split has come for strategic reasons as the R K Swamy Hansa group plans to bring its various business entities under one roof. An agreement was reached between the partners as both understood and respected each other’s strategic imperatives. Under the agreement, R K Swamy will buy out BBDO’s stake in R K Swamy BBDO Pvt Ltd, and BBDO will buy out R K Swamy’s stake in BBDO India Pvt Ltd.
“We started the relationship when Mr R K Swamy and I shook hands with the then CEO of BBDO Allen Rosenshine, in New York in 1985. We worked for four years together on a simple understanding without a formal contract. BBDO invested in us up to a majority, which we then bought back in 2009. They have held a significant minority since then. At that point BBDO India was created and we took a similar minority stake in it. BBDO is a great company and it has been a fantastic journey. The phrase ‘all good things come to an end’ is so true in this case”, said Shekar Swamy, Group CEO of R K Swamy Hansa.
“R K Swamy has been a great partner. We extend to them our very best wishes and cheers as they move forward with plans for their Group. I have always admired their conviction in, and commitment to, the future of India and the part they can play in it. I am sure it will be great. We have a strong agency in BBDO India. We remain committed to great work, and this will be the same in India as elsewhere,” said Andrew Robertson, CEO BBDO Worldwide.
“R K Swamy BBDO is primarily in Marketing Communications. However our extended activities go beyond Marketing Communications to span Interactive & Digital, Media Planning & Buying, Media & Market Research, CRM, Data Analytics & MarTech, Healthcare Communication & Continuing Medical Education, Events and Outdoor. We are bringing these together under one structure for greater synergy. The future is very exciting as we consolidate,” said Srinivasan K Swamy, Chairman of R K Swamy Hansa.
