Innocean joins top 10 brand marketing agencies in India

Innocean, a Hyundai Motor Group-affiliated advertising agency, announced on Wednesday that its Indian corporation has joined top 10 of local brand marketing agencies for the first time.

According to the report by Afaqs, a leading media outlet in India, a list of the top 50 brand marketing agencies was published based on revenue rankings from the previous year. Innocean India recorded its first-ever 10th-place ranking since its establishment in 2005, marking its 18th anniversary this year.

Innocean India saw a significant increase in revenue of Rs 1,499 million ($18.1 million), up 40.5% in 2022 year-over-year. A company official attributed this growth to the significant development of culture, content and entertainment through the Indian film industry known as Bollywood, as well as intense competition in digital marketing in the Indian market.

"We are contemplating a digital-centric growth strategy to establish a competitive edge in the dynamic Indian market. It seems that our efforts to improve business processes more efficiently and enhance leadership capabilities have yielded visible results," a Innocian official said.

In January, Innocean also appointed Santosh Kumar as the new Chief Operating Officer (COO) for its Indian corporation, bringing expertise in the creative and digital marketing fields.

Write to Mi-Kyoung Lee at capital@hankyung.com