Ogilvy acquires stake in Myanmar's leading agency
By Campaign Asia-Pacific, campaignlive.co.uk, Monday, 21 May 2012 12:09PM
WPP's Ogilvy network has acquired a stake in Myanmar's leading advertising agency Today Advertising as it looks to establish a presence in the market.
Ogilvy declined to comment on whether it had acquired a minority or majority stake in the agency.
It said it is now looking seriously at Myanmar [formerly known as Burma] as a new growth market and said there could be further announcements in the months ahead.
Paul Heath, CEO of Ogilvy Asia-Pacific, said Today Advertising had a "great reputation" in Myanmar.
He said: "We believe they are the perfect partner to work alongside us and our clients as the business potential of Asia’s newest frontier becomes apparent."
John Goodman, regional president of Ogilvy Action Asia-Pacific, who led negotiations for Ogilvy, said: "Myanmar is important because it has a population of 56 million people, abundant natural resources and sits at the crossroads between China, India and Southeast Asia.
"In colonial times, it was the most prosperous country in South-East Asia. It's highly unusual for a new market of this potential to suddenly open up."
This article was first published on campaignlive.co.uk
- Head of UX & Digital Design Director MCG Associates tax free competitive package, Dubai (Emirate) (AE)
- Ad Ops Manager - Leading Agency GoodEgg Digital £Neg + Great Benefits, South East England / London (Central), London (Greater)
- Account Director or Senior Account Director, Social Media - up to £65k, permanent MODA consult up to £65k + excellent benefits, London (Central), London (Greater)
- Account Director - Top Digital Agency, web build and web comms focus role, amazing travel brand MODA consult £50k - £55k dependent on the candidate, London (Central), London (Greater)
- Account Director fishtank £38000 - £42000 per annum, Cheltenham
- KitKat's mocking Apple tweet outperforms Oreo's Superbowl
- Social Media Week: what social media has taught us
- TfL launches selfie campaign to encourage people to get home safely
- Argos releases alien swan song ad
- Branded Content sends messages ads cannot, Diageo boss says
- 13 ways to create a winning print ad