Religare, the diversified financial management company, is looking for an agency for its corporate film. Alongside, the mutual funds business of Religare, Religare Mutual Fund (which was re-branded after Religare took up the entire stake in Aegon-Religare AMC) is most likely to fall in Ogilvy’s lap.
The developments were confirmed by Subhrangshu Neogi, head, brand and corporate communications, Religare Enterprises. “We have met the teams of Ogilvy at Delhi and Mumbai; only a few formalities are left to be sorted out.”
Religare Mutual Funds would command an ad budget of around Rs 8-10 crore. The business would be handled out of the Mumbai office of Ogilvy.
On the pitch front, Neogi states that Brand Planet Elephant is looking after part of the corporate duties, and the company is not looking at going in for the services of another agency. The pitch is only for a particular project, that is, the corporate film.
The pitch process for the corporate film hasn’t begun yet. However, briefs have been sent out to multiple agencies — Lowe, Capital Advertising, Law&Kenneth, TBWA and Ogilvy.
The scenario for Religare is thus so far. The creative duties for SRL Ranbaxy, which were earlier with Arms Communications, are now looked after by Arms Crestra. Arms Crestra also looks after the wellness business, Religare Wellness, which was previously with Brand Planet Elephant.
Contract handles creative duties for the life insurance business, Aegon Religare Life — the joint venture between Religare and Aegon; while Mediacom handles the media duties.
To provide a bit of history, Brand Planet Elephant came onboard in August 2008. The agency looks after some parts of the corporate business, Religare Macquarie Private Wealth (the wealth management joint venture between Religare and Macquarie) and Religare Technova (its IT business).
Mudra was Religare’s first agency and it helped launch Religare’s logo and brand identity. In 2006, when the brand began opening up to advertising, it brought Rediffusion Y&R onboard as its creative agency. Rediff’s media agency, The Media Edge, was awarded the media duties. VGC became the creative custodian in 2007 and NAC was handed the media business at the time.