Crayons Advertising, the homegrown integrated advertising agency, has announced that it plans to tap the international advertising markets through tie-ups with independent agencies and acquisitions to help tap the Indian diaspora, in countries like Middle East, US and UK.
At the same time, Crayons also said that it is focusing on getting overseas talent to be a part of its Indian operations, by engaging with multiple recruitment firms in European markets.
Ashraye Lalani, Director, Technology and Growth, Crayons Advertising, said, "Around the world, there are still a large number of independent agencies that are doing stellar work. We are actively looking at possible tie-ups and acquisitions involving independent agencies with a strong presence across the Middle East, US and UK, with a significant Indian diaspora.”
Crayons Advertising, which has recently filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge for its initial public offering (IPO), is also in talks with a few mid-sized agencies in the UK and Middle East markets.
“This will help us tap into a collaborative space leading to seamless knowledge transfers and benefit the partner agency to leverage our understanding of Indian values and ethos. This exchange or presence will enable us to take the Crayons proposition to newer markets and offer customised communications solutions to the brands, enriching the diversity narrative,” added Ashraye.
Indians have emerged as the favoured customer base in the Middle East, US and UK, owing to their growing economic dominance. As per a census in August 2022, the average household earning of Indians in the US is far higher than other immigrants – at $123,700. At the same time, in the UK, Indians rank alongside the Chinese as communities that earn above-average salaries. This has led to companies eager to tap the consumer using more relatable communication – leading to a higher focus on Indian ad professionals in such markets.
Crayons also is tapping global talent to join its India operations to accelerate its digital transformation and offerings.
"Digital communication has gone way beyond conventional digital marketing. In order to grow further, it is time for us to get global talent into the system. Technological expertise, coupled with our insights into behaviour which is unique to our country, we can create solutions that will be very effective for our clients," Ashraye further added,
On listing, Crayons Advertising will be India's first major homegrown advertising agency to go public. Promoted by Kunal Lalani, Caryons Advertisement has been an integrated and innovative advertising agency for over three and half decades. The agency is banking on ad tech and event management prowess to script its next growth stage. The company recently announced that it won marquee mandates, including TATA Sons, National Skill Development Corporation, Indian Oil Corporation, TATA Croma and Bank of Baroda.