The budget for the launch campaign is pegged at Rs 20-30 crore. Dentsu Impact handles the creative mandate for the furniture company
Ikea, the Swedish furniture and home furnishings giant, has given its media mandate to Mindshare Bangalore. The budget for the launch campaign is pegged at Rs 20-30 crore, but the overall annual budget could not be ascertained. Sources close to the development have confirmed the news to BestMediaInfo.com.
The global media pitch had been going on since September 2016 and the global media mandate is for $444 million. According to reports, Ikea has chosen agencies from WPP and Dentsu Aegis Network for its media business around the world and in local markets.
In India, Dentsu Impact handles the creative mandate for the furniture company.
Earlier last year, Ikea had announced that it would open its first store in Hyderabad by the end of 2017. The store will be spread across 400,000 sq ft. Ikea has alrady said that it would invest Rs 700 crore on the Hyderabad store,
While Mumbai will have the second Ikea store, the other cities the company plans to open stores in include Ahmedabad, Chennai, Kolkata, Pune and Surat. It aims to open two to three retail stores every year.