Chuo Senko, the communications group headquartered in Thailand, and DDB Mudra Mudra Group have called off their joint venture (JV) in India. In 2013, the companies had entered into the JV under Chuo Senko Advertising India - as a full service advertising agency.
An official statement informed, "From mid-year 2014 we started hiring for our team and things really started kicking off from the last quarter of 2014 with some big wins for us including work for Daikin Airconditioning India, Panasonic India, Triumph Motorbikes, Woolmark and the Korean Cultural Centre India (part of the Embassy of the Republic of Korea)."
The split had been in works since earlier this year as part of a mutual decision of the companies involved.
"However, in recognition of the growth opportunities and potential", the statement adds, "the India market offers, Chuo Senko is now investing aggressively in expanding capabilities and additional capacity in Chuo Senko Advertising India. We expect 2015 to be our best year yet and 2016 to be many times better. It takes time to find the right mix of people, product and place, and it is a very exciting time for us as we get closer to that sweet spot each day."