MAM
Events & activation industry to touch Rs 5,779 crore by 2016-17
MUMBAI: The events and activation industry is clearly on a roll in the country. According to the EY-EEMA (Event and Entertainment Management Association) report, the sector is expected to grow to Rs 5,779 crore by 2016-17.
This growth will be on the back of marketers increasing their below the line (including digital) spends to 21 per cent of their total marketing spends. The growth will also be led by personal events, MICE (meetings, incentives, conferences and exhibitions), activations and sports.
According to the report titled ‘Making experiences in India: The events and activations industry,’ the events and activations industry has seen a growth of 15 per cent annually from Rs 2,800 crore in 2011-12 to Rs 4,258 crore in 2014-15.
The report states that while managed events remain the largest service offering, IP (Intellectual Property) and digital events are growing at a faster rate than managed events. The key strength of the industry remains its ability to get things done and the ideation and efficiency with which it operates. “That said there is a need for the industry to work on acquiring the right talent, managing costs, demonstrating ROI to marketers and increasing transparency in operations,” states the report.
Non-metro markets are expected to increase in importance as marketers look to tier II and tier III cities for incremental growth, states the report. Digital events and activation is also expected to grow significantly on the back of smart phone penetration, internet availability and the cost efficiency of such campaigns for marketers.
While the industry has reported very few M&A transactions over the last few years, there exists scope for consolidation. Valuations are driven by IPs owned, advertising agencies’ interest in activations, and digital events and sports leagues. On the taxation front, double taxation, taxation across multiple states, and varying and inconsistent application of different taxes are some of the challenges faced by the industry. Also, the introduction of Goods and Services tax (GST) could have a significant impact on the industry in terms of rates and implementation across multi-state activities.
The report also states that the introduction of the new Companies Act, 2013, will result in some key changes in internal financial controls, compliance with more than 60 acts and regulations, and implementing a vigil mechanism to identify undesirable activities.
EY also conducted a workshop with CEOs of the industry that resulted in Vision20:20 for the industry’s future success. It felt that the industry needs to work towards the following initiatives:
Internal aspects: Improve the quality of talent through skill definition for various jobs, skill development, job security, compensation benchmarking and implementation of health and safety standards. The industry must build robust policies, processes and information systems to manage business efficiently and safely, and implement technology and automation.
External aspects: The industry needs to work on its positioning to marketers, build an account focus and demonstrate returns more effectively. There is a need to improve the supply chain by developing quality vendors, implementing a system of vendor accreditation and improving overall risk management. The regulatory ecosystem needs to be made more conducive by simplifying taxation, permissions and copyright issues.
Strategic aspects: The industry must build more IPs focused on defined communities of interest to marketers, and embrace the opportunity provided by marketers’ increasing spends on digital media.
The report is based on the findings of a survey conducted via extensive discussion with over 60 respondents including the heads of events and activation companies across the country, along with inputs from advertisers and sponsors.
EY India partner and media and entertainment advisory leader Ashish Pherwani said, “The events and activations industry holds great potential and this is evident from the considerable growth that the industry witnessed over the last few years.”
Event and Entertainment Management Association president Sabbas Joseph added, “With a new government at the helm, there is a growing interest in the culture and people. The events and activations industry is best poised to capitalize on this opportunity and there is a crying need for a new world order – one in which event companies work along with government to create an events calendar that drives tourism and related industries.
Brands
Malaika Arora launches Maejoy accessories brand with Myntra partnership
New label debuts with 250 plus handbags and lab grown diamond jewellery.
MUMBAI: When style meets sparkle, a new brand is ready to take centre stage. Actor and entrepreneur Malaika Arora has launched a lifestyle accessories label called Maejoy, developed in collaboration with Exceed Entertainment and Myntra Jabong India Private Limited (MJIPL), the B2B wholesale arm of Myntra. The brand enters the market with a debut collection of more than 250 styles spanning handbags and lab grown diamond jewellery, two categories that continue to define everyday personal style for modern consumers.
The handbag lineup includes crossbody bags, structured shoulder bags, bucket bags, totes, backpacks, clutches and workwear inspired designs. The pieces are crafted using materials such as synthetic leather, raffia, braids, satin, rhinestones and metallic finishes.
Alongside the bags, Maejoy has introduced a jewellery range featuring lab grown diamond rings, earrings, pendants, bracelets and tennis bracelets. The pieces are set in 925 sterling silver bases with gold, silver and rose gold tones, and include diamonds certified by IGI and GCI.
Positioned as a premium yet accessible accessories label, Maejoy is built around the philosophy “The Joy of Being Me”, aiming to blend aspirational fashion with everyday usability. The brand’s positioning centres on three pillars: authenticity, empowerment and accessibility.
Arora described the venture as a natural extension of her long association with fashion and personal style.
“Maejoy is a labour of love. Throughout my career, whether on screen, in business or through personal style, I have always believed fashion should feel empowering yet effortless. The Joy of Being Me celebrates individuality while making global fashion trends more accessible,” she said.
MJIPL, CXO and head of house of brands Suman Saha said the brand brings together Arora’s style perspective with a strong opportunity in the accessible premium accessories segment.
“Maejoy combines Malaika Arora’s distinctive style sensibility with fashion forward designs that we believe will resonate strongly with consumers looking for elevated yet wearable accessories,” he said.
Exceed Entertainment CEO Afsar Zaidi added that building celebrity led brands requires balancing authenticity with market viability.
“Malaika commands respect both as a fashion icon and a businesswoman. Bringing her creative vision together with Myntra’s brand building expertise creates a strong foundation for Maejoy,” he said.
The collection is available exclusively on Myntra through its website and mobile app, making the brand accessible to millions of shoppers across India as it steps into the competitive lifestyle accessories space.
