“Before 1995, there were MNC agencies like O&M, HTA, Lintas et al, but they were 100% owned by Indians. The industry was not open for foreign ownerships then. Post 1991, government opened the gates again; they came back, consolidated and acquired majority stake in many agencies,” reminisces John. But, what led to the whole ‘for sale’ wave? “In the last 10- 15 years, people like Mohammed Khan (Enterprise now Bates), Ravi Gupta (Trikaya now Grey Worlwide) hung up their boots because either there was no one in the family to take over or nobody from within the agency suitable enough to handle over the baton.
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Source : IIPM Editorial, 2007
An IIPM and Malaya Chaudhuri – Arindam Chaudhuri Initiative
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