PUBLICIS Groupe, one of oldest and largest marketing and communications companies in the world by revenue, and parent company to West Africa’s largest marketing communications group, Insight Redefini, has overtaken WPP, in market capitalization, for the first time.
Commenting on the development, advertising legend, Martin Sorrell, said, “Over the last 4 years, WPP’s market value has fallen by about 4 billion pounds. The market has spoken. They are often described as being the largest advertising services company. I don’t think that is the case. I think Publicis has actually managed to beat WPP from a market capitalization point of view, certainly, for the first time, a few days ago.”
Publicise Group owns a 25 per cent stake in Insight Redefini, West Africa’s largest integrated marketing network. The partnership has strengthened the value provided to clients, ensuring deployment of global best practice, in creatives and advisory, for brands.
Also reacting to the announcement, Group General Manager, Strategy and Corporate Planning, Insight Redefini, Olatunde Samuel-Ipaye, highlighted the implications for the Insight Redefini group.
“For over 40 years, we have driven business transformation across the entire value chain, from Nigeria to the whole of West Africa. Our partnership with Publicis Groupe has placed us strategically at the heart of global integrated marketing services. We draw on global resources for the benefit of our clients’ brands and deliver the edge to succeed in a digital-first world. This is a win for us all,” he stated.
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“I will definitely do everything I can to prevent this super-negative scenario,” he added.
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