Havas Media, India has bagged the integrated media duties of Muthoot Pappachan Group (MPG), a financial services conglomerate that has business ventures in various other domains.
The account size is estimated to be upwards of Rs 50 crores and will be handled out of the Bangalore and Cochin office led by Saurabh Jain, Vice President - South, Havas Media India.
MPG encompasses several businesses, including financial services, automotive dealerships, hospitality, real estate, information technology, precious metals and alternate energy and others. Besides the financial services company Muthoot Fincorp, the group comprises a housing finance subsidiary Muthoot Housing Finance, publicly traded two-wheeler financing arm Muthoot Capital Services, microfinance company Muthoot Microfin, and insurance broking firm Muthoot Risk and Insurance Broking Services, among some other non-financial business units.
Sanjeev Shukla, Group Chief Marketing Officer, Muthoot Pappachan Group said, âBeing a legacy company, it is paramount that we maintain our reputation that has been shaped over decades with high quality practices towards helping ordinary men and women fulfil their dreams, while adopting and preparing ourselves for the next generation. Havasâ agility and consumer-centric approach has made us believe that they are the right partner for us. We hope this partnership takes the brand to newer heights and towards meaningful growth.â
Anita Nayyar, CEO, Havas Media Group, India and South Asia said, âWe are excited to kick start the year with a legacy brand like Muthoot. Being in a highly regulated domain, consumer trust and transparency will be at the core of Muthootâs marketing strategy. With this win, we have strengthened our operations in the South and are aiming to expand our footprint. We look forward to a meaningful association and to add to the relationship of belief and trust with customers that Muthoot has built since 1887.â
âSpanning 131 years in the field of business, Muthoot Pappachan Group has grown to become a significant entity in the Indian business landscape that thrives on consumer-centricity and innovation. At play will be Havas Media Groupâs integrated media skills centered on digital and our âMeaningful Brandsâ framework which will together map the brand chart for Muthoot. According to our research, brands that are meaningful enjoy 64% higher trust among consumers in the finance industry. We are excited to take on the first mandate for 2018,â added Mohit Joshi, Managing Director, Havas Media Group, India.
Muthootâs total assets under management are said to be equivalent to over Rs 8,000 crore as of 31 March, 2017, Muthoot Fincorp, the groupâs flagship company, operates country wide with a network of over 3500 branches with over 50,000 customers walk-ins every day.