NEW YORK: Interpublic Group, currently struggling to stand still, is eyeing the domestic Chinese market for growth opportunities. Already a presence in the People's Paradise on behalf of its multinational clients, IPG now aims to woo a local clientele.
Says IPG chairman/ceo Michael Roth: "The untapped opportunity is with local clients and, eventually, with local clients trying to be global. This is a very important market for us."
Currently, IPG garners between 9%-10% of its global revenues from Asian markets and Roth expects that figure to grow - especially in China. "There are real growth opportunities in cultivating local clients," he says.
That belief is based primarily on the Chinese government's campaign to spur local firms to develop their own brand identities rather than just manufacture products for re-badging elsewhere.
Data sourced from Wall Street Journal Online. additional content by WARC staff