Cheil grows presence in China
13 August 2012
Cheil Worldwide is expanding its Chinese network with the acquisition of Bravo Asia.
Through the acquisition, Cheil will create the Cheil China Group, combining Bravo Asia with Cheil China and OpenTide Greater China. Bravo Asia president and chief executive Aaron Lau will oversee the new group.
Lau was previously chairman of DDB Asia and has worked in the industry for 28 years. Bravo Asia is based in Shanghai and Hong Kong and its client portfolio includes MinuteMaid, 3 mobile network, Moet Hennessy Asia Pacific and New Balance Asia Pacific.
The agency group’s expansion comes shortly after the latest global ad forecast from eMarketer, which predicts that China will become the world’s second largest ad market in 2013.
“Cheil Worldwide is committed to becoming a global integrated marketing communications network made up of the best local agencies in the world,” says Cheil Worldwide president and chief executive Nack-Hoi Kim. “The industry has seen staggering growth in Greater China, the world’s third largest advertising market and soon to be the second, and it’s crucial Cheil expands its local footprint there.”
Two weeks ago, Cheil also bolstered its growing global network with the acquisition of US agency McKinney.
David Hing, London