4th February 2008
Global market research leader Millward Brown and pioneering Indian research company IMRB are to combine forces to create a Joint Venture in India. Millward Brown will have a majority share in the business which will open new offices in Mumbai, Delhi and Bangalore.
The new company, to be called Millward Brown India, will begin trading on March 3, 2008. Shishir Varma, formerly President of Millward Brown Japan, will be the Managing Director.
Commenting on the move, Eileen Campbell, Millward Brown’s CEO said: “In recent years, India has become an extremely important global business player. This is why we felt the time was right to set up a standalone Millward Brown company — one that focuses on using Millward Brown’s expertise in the brands, media and communications space to help local and multinational marketers build and grow their brands. Shishir, who has significant international experience as well as a great understanding of the issues that our clients are facing in the rapidly growing Indian economy, is the ideal person to lead this new venture.”
Continued Shishir Varma, Managing Director for Millward Brown India: “It will be an honour to return to India as the leader of this exciting new business. Our aim will be to build a thinking organisation that develops appropriate new solutions to add value to our clients’ businesses. Another key focus for us will be to contribute to the continuing development of the industry by giving market research professionals a rewarding and challenging career in this new company.”
Shishir will report into Travyn Rhall, CEO of Africa Asia Pacific.
The Joint Venture has been established to market Millward Brown’s quantitative solutions. Specialist practices within the Millward Brown group, including Millward Brown Optimor, Millward Brown Precis, Millward Brown Firefly (Qualitative) and Dynamic Logic will be set up later on and will operate independently of the JV.