Crayons Advertising on Monday said it is planning international strategic tie-ups with independent agencies and also acquisitions to tap the Indian diaspora in the US, the UK and the Middle East. At the same time, it is also focusing on getting overseas talent to be a part of its Indian operations by engaging with multiple recruitment firms in European markets, the advertising agency said in a release.
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, it added.
Commenting on the plans, Crayons Adverting Director, Technology and Growth, Ashraye Lalani 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.
The company further said 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 USD 1,23,700, it said.
At the same time, in the UK, Indians rank alongside the Chinese communities that earn above-average salaries, the release said, adding 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 is also tapping global talent to join its India operations to accelerate its digital transformation and offerings.
The company has offices in Delhi, Mumbai, Chennai, Kolkata and Lucknow.
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