Crayons Advertising on Monday announced its plans to tap the international advertising markets through strategic tie-ups with independent agencies and acquisitions to help tap the Indian diaspora, in countries like Middle-East, US, and UK. Crayons is also focusing on getting overseas talent to be a part of its Indian operations, by engaging with multiple recruitment firms in European markets.
Commenting on the plans, Ashraye Lalani, director, technology and growth, Crayons Adverting, said, “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.
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.
“This will help us tap into a collaborative space leading to seamless knowledge transfers and benefit the partner agency to leverage our understanding of Indian values and ethos. This exchange or presence will enable us to take the Crayons proposition to newer markets and offer customized communications solutions to the brands,” added Ashraye.
As per the company, 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 $123,700. At the same time, in the UK, Indians rank alongside the Chinese as communities that earn above-average salaries. This has led to companies eager to tap the consumer using relatable communication – leading to a higher focus on Indian ad professionals in such markets.
Crayons Advertising will be India’s first major homegrown advertising agency to go public post-listing. The company recently announced that it won marquee mandates, including TATA Sons, National Skill Development Corporation, Indian Oil Corporation, TATA Croma, and Bank of Baroda.