JWT India has entered into a 50:50 joint venture with Japan’s third largest advertising firm ADK to create a new agency ADK Fortune, which will look at tapping into Japanese brands that are looking to enter India.
Colvyn Harris, CEO, JWT India (pictured) explained that the move was a result of the need for specialization. “Opportunities have emerged with Japanese brands looking at India as a result of the recent US slowdown. With global brands now looking at countries like China and India, the potential is immense in diverse categories like automobiles, watches, consumer durables. Almost three out of five of the top brands in the world today are Japanese. ADK has their relationships with brands and they could have gone alone in India. But local insights and areas of consumer connect are required for an agency looking at this market and that’s where we came in.”
He added, “JWT has always operated as a client centric agency, the efficiencies in such a partnership will come from having an experienced and efficient team on board.”
ADK Fortune will be headquartered in Delhi and will be headed by H Jay Araki. The creative head of the agency has not been finalized yet but will certainly be an Indian professional, according to Harris, who also revealed that they had signed on Nokia and Bridgestone as clients for the new agency. He admitted that a few people may be hired from JWT for the newly formed company but otherwise, the agency will function as a separate entity and have an entirely new team on board.