MAM
Essence bags integrated media mandate for Plum
Mumbai: A global data and measurement-driven media agency WPP’s GroupM, Essence has won the integrated media mandate of beauty brand Plum in India. Essence will work on this mandate out of their Mumbai office.
As a part of this partnership, Essence will manage strategy, media planning and media activation for Plum’s brand marketing activities. With its pioneering expertise in data, technology and creativity, the agency will help scale the brand across categories and drive enhanced return on investment.
With over 180 SKUs, Plum has steadily built its customer base on both online and offline platforms. In addition to being among the top new-age beauty brands online, Plum now reaches over 250 towns and cities in India, through more than 1,000 assisted outlets and over 10,000 unassisted outlets – growing month-on-month. It is also one of the fastest-growing beauty and personal care brands on key online marketplaces.
Now it joins Essence’s diverse portfolio of clients across its Bengaluru, Delhi and Mumbai offices, covering a mix of high-growth, technology-driven startups as well as established local and global companies. Since Essence’s entry into India in 2016, the agency has seen an increasing demand by companies for its transformational data-driven approach to marketing, unified use of media and creativity to deepen relationships with consumers, and expertise in accelerating brand and business growth.
Speaking of this association, Plum chief marketing officer Shivani Behl said, “Consumer behaviour is ever-evolving, and reaching out to the new-age digital consumer is a process that involves constant learning and feedback. With this context, it is imperative to keep a keen eye on data, and expand our reach to newer audiences and cater to the ever-changing demands of our existing ones. Hence, collaborating with Essence to leverage their expertise in technology, media and marketing was a logical next step. We are looking forward to this association and we hope it helps us in achieving the business vision we have chalked out for ourselves.”
Essence India managing director Sonali Malaviya commented, “Plum is an exciting, fast-growing and purpose-driven beauty brand, which shares Essence’s commitment to data-driven growth and marketing that adds value to people’s lives. Leveraging our cutting-edge use of analytics and technology, we are looking forward to collaborating with the team at Plum as its strategic partner, to help create new growth opportunities for the brand and the business.”
Brands
Oyo parent Prism appoints former Sebi chief Ajay Tyagi to Board
Former market regulator joins Prism to strengthen governance for IPO
NEW DELHI: Prism, the parent entity of Oyo, has appointed former Sebi chairman Ajay Tyagi as an independent director, as the hospitality firm gears up for its planned Rs 6,650 crore initial public offering (IPO).
Tyagi, a 1984-batch IAS officer, served as chairman of the Securities and Exchange Board of India (SEBI) from 2017 to 2022. His appointment is aimed at strengthening the company’s governance framework and providing strategic oversight as it moves closer to a public listing.
He joins a high-profile board that already includes several prominent names from global business and policy circles. These include Troy Matthew Alstead, former CFO and group president of Starbucks; Aditya Ghosh, co-founder of Akasa Air; Deepa Malik, paralympic athlete and Padma Shri awardee; William Steve Albrecht, professor of accountancy at Utah State University; and Bejul Somaia, partner at Lightspeed Venture Partners.
Prism founder Ritesh Agarwal, said Tyagi’s experience in capital markets regulation and public-institution stewardship will be critical as the company scales operations and enhances long-term accountability.
The company recently filed preliminary papers with Sebi to raise Rs 6,650 crore through a confidential route. Market sources estimate its valuation will be in the range of $7 billion to $8 billion.
Over the course of his career, Tyagi has held senior roles in the ministry of finance, where he oversaw investment policy and financial-sector reforms. His induction to the Prism board signals a renewed focus on aligning the company’s internal standards with the stringent requirements of public markets as it advances toward its IPO.
