Latest news with #Saatchi
Mint
26-06-2025
- Business
- Mint
Saatchi & Saatchi doubles in size in five years—but agency model under strain as ROI obsession rises
Mumbai: Creative agency Saatchi & Saatchi India has quietly doubled in overall scale and revenue size over the past five years, expanding headcount, winning marquee mandates and growing its digital arm nearly tenfold. But even as the agency rides a strong growth wave, chief executive officer (CEO) Paritosh Srivastava admits the broader industry is staring at some fundamental shifts—from broken revenue models and rising client demands to the slow erosion of creativity itself. The year 2024 has been the best in the agency's history, Srivastava told Mint. 'We've won large mandates—Diageo, Skoda, Pampers, FedEx and Leela Hotels—and we now operate with over 400 people across Saatchi & Saatchi, BBH India and digital agency Saatchi Propagate," Srivastava said. The group's digital arm, acquired in 2019, has grown from a ₹4 crore operation to ₹40 crore in projected revenues for FY25. While there is no formal industry ranking or audited revenue leaderboard for creative agencies in India, unlike media buying agencies, Saatchi competes with other top networks such as Ogilvy, Leo Burnett, McCann, DDB Mudra, FCB and Lowe Lintas. Srivastava attributes much of this momentum to Publicis Groupe's Power of One model, where integrated teams from creative, digital, CRM, media, commerce and data work together under one unified mandate. 'Close to 80% of our wins are now Power of One. Clients don't want seven different agencies interpreting their brand in different ways. We're solving end-to-end." But behind that integration lies the reality of a creative industry stretched thin. Margins are under pressure, campaign timelines are shrinking and budgets are splintered across platforms. Srivastava acknowledges that clients are more focused than ever on one thing: results. 'There's no ambiguity—measurableReturn on Investment (ROI) is the priority," he said. 'The advertising business has become serious. Clients are accountable for every rupee they spend and so are we. Awards are great, but we exist to drive business outcomes." There's no universal benchmark for ROI in advertising since it varies based on parameters such as brand, category, campaign objective, and platform. Yet firms like Ogilvy, McCann, Leo Burnett and FCB have traditionally led in both scale and awards tally. Identity rethink Srivastava believes this shift has forced agencies to rethink their very identity. 'The retainer and commission model is under stress. The only way forward is to align with clients on key performance indicators (KPIs) and take shared responsibility. If agencies want to stay relevant, they have to stop thinking in silos—creative, media, strategy—and start owning the full funnel." That shift has strategic implications. Saatchi, Srivastava said, now operates one of the largest strategy teams among Indian creative agencies. 'Strategy is no longer a support function—it's the arrowhead. It guides creative, informs effectiveness and brings the client's business reality into the room." Yet, the big question remains—what about creativity itself? In a world dominated by dashboards, performance metrics and templatized storytelling, where does the bold idea fit in? 'It's true," Srivastava admits. 'We're living in an age of sameness. There's too much noise. Brands are struggling to stand out. That's why belief systems matter—BBH's 'Zag when others Zig' or Saatchi's 'Nothing is Impossible' aren't taglines. They're creative operating systems that help us resist the pull toward mediocrity." Still, many in the industry are concerned that creativity is being overshadowed. 'There's a risk," he said. 'But creativity is no longer just about a 60-second film. It's about interpreting data in a fresh way, building loyalty and driving commerce. It has evolved, not disappeared." On talent, the cracks are deeper. The advertising industry, unlike IT or consulting, has historically underinvested in long-term pipeline building. 'We don't have a ready talent base. So we've started building our own," Srivastava said. The group has delivered over 1,600 hours of training in 2024 and now recruits actively from smaller towns and interdisciplinary backgrounds—science, statistics, anthropology. The employee fix He's candid about what's broken: 'As long as agencies keep hiring at ₹5-6 lakh, they'll keep struggling. You push that to ₹10-15 lakh, and the quality transforms overnight. But we need to convince clients to pay for the talent they expect." Srivastava also pointed to industry image problems. 'We haven't pitched advertising well to the next generation. It offers energy, challenge, impact—yet it's not considered sexy anymore. We need to fix that." The agency's certification as a 'Great Place to Work' is one step in that direction. 'We're the only large creative agency in India with that badge. That means something," he said. Attrition among fresh recruits remains around 30%, but drops sharply after three years, he added. Asked whether legacy agency brands still matter in an era dominated by startups, data, and performance-driven storytelling, Srivastava was emphatic. 'They'll matter more. As data and tech get democratized, what will set brands apart is trust, consistency and creativity. That's what legacy agencies—if they adapt—can still deliver best."
Euronews
25-02-2025
- Entertainment
- Euronews
In pictures: The highs and highs from London Fashion Week 2025
A knight in shining armour greeted guests for the Burberry show at Tate Britain and the anonymous metal clad model/actor proved a hit amongst the starry throngs, including Lauryn Hill, Geri Halliwell, Law Roach, Orlando Bloom and Kim Cattrall. Burberry closed London Fashion Week - the only homegrown super brand to take part in the season and at a critical turnaround time. CEO Joshua Schulman is leading the revolution, rebooting the core offering, restructuring price points and reducing outgoings. But that did not seem to dent the VIP budget. The knight was an apt mascot for creative director Daniel Lee, who took the collection on a new rich and opulent route, examining the language and aesthetics of British heritage. 'The collection began with an exploration of British society and period dramas – inspired by films like Saltburn,' says Lee who revelled in the mystique and splendour of castles, dukes and dames. British actor Richard E. Grant walked the show in a fabulous bark brown tweed overcoat and polo neck, looking ever so imperious. The line up segued into jewel toned velvet lounge suits, smock dresses and tapestry patterned knits, and voluminous leather parkas and plaid trench coats (one worn by Naomi Campbell boasting a swingy fringed skirt) that drew from medievalism, and William Morris' arts and crafts movement. It was seductive, grand and a neat sidestep from the street style obsession that has reigned. Languishing luxury The need for a reality check to combat the prevailing downtown in global luxury sales is urgent across the industry as designers and brands consolidate their USP and plan strategically for turbulent years ahead. It meant many designers, including JW Anderson, Chopova Lowena and Molly Goddard, decided not to stage catwalk shows this season (even a small show requires a minimum £60k spend) while others resized hosting dinner parties, mini presentations and digital shows. On the catwalk, however, London designers (35 on schedule) pushed creativity to the max. Established tentpole designers including Erdem known for artful evening wear and ladylike tailoring; Roksanda for her architectural silhouettes; Simone Rocha for her punk romance, and New Zealander Emilia Wickstead, delivered standout collections. Venues ranged from galleries to landmark sites and dive nightclubs. Wickstead showing at the Saatchi gallery immersed herself in Hitchcock's The Birds as a cue for her twisted elegance in the shape of pointy collared shirts; 60s influenced grey flannel trouser suits topped with pill box hats and silk jacquard dresses with swingy skirts. With her boutique on Sloane Street, Wickstead is in contact with her clients and that makes a big difference in predicting desires. Ditto Erdem who owns a Mayfair store serving a dedicated clientele who adore his eccentric artistry and couture level craft. He started with the oil portraits of artist Kaye Donachie, who he had commissioned for a posthumous portrait of his late mother. He turned those tender portrayals into delicate hand embroidered organza slips and frayed ribbon work strapless gowns that descended the grand staircase at the British Museum. Erdem's glossy mint or sapphire blue spoke sequin sheaths are a plum choice for the Oscars ' red carpet. Roksanda, who studied architecture at the University of Belgrade, found her own knight in shining armour when her business was rescued from bankruptcy last year, selling to The Brand Group (TBG). She is a master of dramatic silhouettes and her starting point was artist Dame Phyllida Barlow who is known for her bold emotive sculptures constructed from discarded materials. That led Roksanda to giant sequinned skirts and headdresses topped with outsize jackets; beautifully draped shawls and capes and 3D ball gown skirts made in off cuts of fabric bonded foam. Designers are good at showing us hidden places in the capital like Simone Rocha who chose the opulent surrounds of London's Guildhall. For this co-ed show she channelled her rebel spirit into fake mink coats with slashed hems; palest pink corset laced slips and biker jacket dresses fastened with padlock belts. For men, there were such fancies as pearl embroidered knits and silk taffeta trimmed rugby shirts. Her models carried tortoise and hare shaped accessories - spirt animals perhaps – that seized the cute accessory moment. All eyes are on the new generation which has always been the brilliance of LFW; a city that has spawned such greats as Alexander McQueen, Hussein Chalayan, Phoebe Philo, Stella McCartney and John Galliano. Helping hands Many today would be unable to take the plunge without the support and help of the BFC New Gen scheme and dynamic not-for-profit organisations. The Lulu Kennedy founded Fashion East provides a platform and markets for three designers every year; the Sarabande Foundation which was set up by the late Alexander McQueen with two studio/gallery spaces in Haggerston, East London and in Tottenham (supporting creatives in all fields from photography, fashion to jewellery). There's also the new Paul Smith Foundation that provides studio space and mentorship to fashion designers. Paolo Carzana has benefited from support from both the Sarabande and Paul Smith Foundations enabling him to concentrate on design rather than rent stress. The Welsh born talent works with vegetal died fabrics - turning them into poetic clothes layered up nomad style with delicate shreds, ties and drapes. He presented at The Holy Tavern, a tiny pub in Clerkenwell, to an enraptured crowd perching on bar stools. His tender aesthetic says volumes about the fragility of life and the planet. Showing in a dingy nightclub, Dilara Findikoglu astonished guests with a collection of gothic fantasia featuring exquisitely made leather corsetry, second skin raffia and feather hourglass gowns, shell and crystal slips that a slew of stars adore including Dua Lipa, Lady Gaga and Charlie XCX. What goes on inside a studio? That was New Gen talent Tolu Coker's revelation at her presentation that featured an atelier where her team displayed pattern cutting and toile making techniques. It underlined the skills that go into making her pretty corseted shirt dresses and flounce skirts and the communal passion that goes into making fashion happen. Coker is a semi-finalist in this year's LVMH prize. As the crowds shift to the big trend machine that is Milan, London's individualistic storytelling prowess continues to make a global mark – small, mighty and ready for battle – just like that knight.
