Popular Daily Fresh News
Popular World Watch
- Malaysia opens first Victoria’s Secrete lingerie store
- Gangnam Style, Dissected: The Subversive Message Within South Korea's Music Video Sensation
- Why a Malaysian bought a Swiss watch brand and kept it Swiss
- WSJ Marketwatch: "Design Matters: Harnessing the Power of Design for Your Brand"
- Goodbye, Facebook, and thanks for all the fish…
|WPP Hawks Soap in Malaysia as Ad Firms Shield From Slump|
|Monday, 18 June 2012 01:23|
When top advertising executives gather this week at the Cannes Lions festival in France, the focus of the discussion will be far away from the yachts and luxury hotels of the Cote d’Azur.
Europe’s slowdown has pushed the ad agencies into faster- growing markets and led to an acquisition boom in Brazil, Russia, India and China, with WPP Plc (WPP) and Publicis SA (PUB) racing to buy local marketers. Now, with the BRIC economies at risk of slowing too, the agencies are spreading deeper into emerging markets, making deals in Malaysia, Turkey, Indonesia and Pakistan to boost revenue.
“They are chasing growth where they can find it,” said Stuart Sparkes, a partner in the corporate-finance advisory at Deloitte LLP in London. “It’s a good way of the marketing- services conglomerates getting faster profit growth.”