How Asian Agencies Become Global Holding Companies
Posted in: UncategorizedAgency networks based in major Asian countries like Japan, Korea and China are trying to fulfill their global aspirations by turning to Westerners for leadership and entering new regions through acquisitions.
The strategy can be traced back to Dentsu, which grappled for decades with unsuccessful efforts to open agencies under its own name and forge international alliances with other networks, including Havas, Y&R and Publicis. The Japanese giant turned the corner when it made two big moves: it started acquiring Western brands instead of trying to build them, and promoted its first non-Japanese exec, Tim Andree, to a senior role in the company.
Korea’s Cheil Worldwide has faced similar problems trying to escape its reputation as Samsung’s in-house ad agency, with no other real international clients. Following Dentsu’s playbook, Cheil hired former Leo Burnett U.K. exec Bruce Haines in 2008 to move to Seoul as president-global chief operating officer, and Buz Sawyer as CEO for North America in 2010. It was announced last week that Mr. Sawyer is leaving at the end of December to become a consultant and will not be replaced. Mr. Haines retired earlier this year after having moved into a global chief strategy officer role for Cheil several years ago. (Mr. Haines’ LinkedIn profile now reads “Retired and at leisure” in Bath, England).
Post a Comment