“I am categorically saying this- we continue to be an independent agency and we do not have any intention of selling a stake in the company.”
That’s the comment from Vyas Giannetti Creative’s (VGC) chairwoman and chief creative officer, Preeti Vyas (pictured) when asked about a recent media report that quoted her as saying that the company was interested in selling a stake to raise money for further expansion plans.
Speaking to Campaign India, Vyas said, “We continue to be one of the last independent agencies who are not aligned with any of the multinational holding companies. If you look around, how many are really left? Yes, we have been approached by multinationals but we have no intention of selling a stake in the company, as we saw no strategic sense in it. I have been misquoted in the report that you refer to. We are clear that with the exponential growth and sweeping changes taking place in advertising communication today, everything has become about scale. As we prepare to plan for the agency’s future as well as the future of advertising going forward, it is clear that we will need to work with different specialist agencies who will bring their area of expertise into the process and that’s fine. That is an ongoing process as we continue to work with specialist agencies in areas like digital and sports marketing but we continue to be an independent agency.”
A business daily had recently reported that VGC was looking at a stake sale to acquire partners in specialist fields like retail and digital and expand further.