ASIA-PACIFIC – SEOUL, Korea, AUGUST 13, 2012: Following the acquisition of US ad agency McKinney, Cheil Worldwide has the acquired Bravo Asia, a boutique advertising agency with offices in Shanghai and Hong Kong.
Bravo Asia will join Cheil Worldwide’s existing Chinese network, Cheil China and OpenTide Greater China, to create the Cheil China Group, which will be directed by Mr. Aaron Lau, President & CEO of Bravo Asia. Cheil Worldwide’s acquisition of Bravo Asia will significantly increase the network’s creative capabilities and geographic reach in the rapidly-expanding Chinese marketplace.
“Cheil Worldwide is committed to becoming a global integrated marketing communications network made up of the best local agencies in the world,” said Nack-Hoi Kim, President & CEO of Cheil Worldwide. “I’m delighted Aaron Lau will lead the Cheil China Group to create a local network that offers our clients an elevated level of creativity and wins domestic accounts. The industry has seen staggering growth in the Greater China, the world’s third largest advertising market and soon to be the second, and it’s a crucial Cheil expands its local footprint there”
Led by ex-DDB Asia Chairman and 28-year industry veteran Aaron Lau, Bravo Asia has offices in Shanghai and Hong Kong. It works with a portfolio of valued regional and local clients including Minute Maid, 3 mobile network, Moet Hennessy Asia Pacific, New Balance Asia Pacific, etc. offering market planning and creative services.
Aaron Lau, President and CEO of Bravo Asia, said, “The Cheil China Group is a perfect match for Bravo Asia. At Bravo Asia, we share Cheil Worldwide’s passion for providing excellent integrated communications services. We are excited to join forces with Cheil’s partner agencies in China to offer greater geographic relevance to our current clients and to prospective clients throughout Asia. ”
Bravo Asia is the latest in a string of acquisitions Cheil Worldwide has made to enhance its operations in key markets, and it comes on the heels of the new partnership with McKinney in the U.S, announced in July. Previously, Cheil Worldwide bought Beattie McGuinness Bungay (BMB), a leading independent advertising agency based in London, in 2008 and acquired leading digital agencies OpenTide Greater China and The Barbarian Group of the U.S. in 2009.
