Madison wins media mandate for Parag Milk Foods' Rs 100-120 cr account

The agency will cater to all the sub brands such as Gowardhan, Go, Pride of Cows and Avvatar

By  Imran FazalOct 16, 2024 8:39 AM
Madison wins media mandate for Parag Milk Foods' Rs 100-120 cr account
In the past, Parag Milk Foods had multiple agencies on board, including GroupM’s m/SIX, Gozoop, Carat, Scion, J. Walter Thompson India (now VML India), among others.

Madison has won the media mandate for Parag Milk Foods. The dairy-based product maker had issued a Request for Proposal (RFP) in April this year for its media planning and buying account. Madison will manage the media duties for all the sub-brands.

According to sources, the account size is approximately INR 100 to 120 crore. Madison will oversee the mandate for the entire product portfolio, including Gowardhan, Go, Pride of Cows, and Avvatar. The brand recently expanded its health and fitness portfolio with the launch of Avvatar, Performance Whey Protein, made from cow’s milk.

Akshali Shah, Executive Director of Parag Milk Foods, confirmed the development to Storyboard18 and said, “At Parag Milk Foods Ltd., we deeply value our partnership with Madison, which has been a driving force in shaping our brand's growth and innovative approach to marketing. Together, we have transitioned from traditional media to high-impact, multi-platform strategies that resonate more deeply with our audience.”

Shah further stated, “Madison has been instrumental in our collaborations with popular shows like Kaun Banega Crorepati, India’s Got Talent, Super Singer, Anupamaa, and more recently, Bigg Boss. These partnerships have enabled us to create immersive brand experiences, such as Go Cheese’s ‘Greed Corner’ in Bigg Boss, and extend our reach across TV, OTT, and in-show integrations.”

“We look forward to continuing this valuable relationship with Madison, further strengthening our presence and fostering long-term brand loyalty across diverse platforms,” she added.

Sam Balsara, Chairman of Madison said, "Parag Milk Foods has consistently demonstrated innovation and a deep understanding of the evolving consumer landscape. Their ability to blend tradition with modern marketing techniques sets them apart in the dairy FMCG sector. At Madison, we are proud to have played a key role in aligning their marketing strategies with their growth ambitions, fostering a successful and long-lasting partnership."

In the past, Parag Milk Foods had multiple agencies on board, including GroupM’s m/SIX, Gozoop, Carat, Scion, J. Walter Thompson India (now VML India), among others.

Parag Milk Foods Ltd (PMFL) reported an 8.5 percent revenue growth in the 2023-24 fiscal, reaching INR 3,139 crore, driven by strong brand equity and competitive market positioning. The company earned a gross profit of INR 749 crore (with a margin of 23.9 percent) compared to INR 569 crore (margin of 19.7 percent). Profit after tax was INR 91 crore (compared to INR 53 crore), up 70 percent. EBITDA, with a margin of 7.1 percent, was INR 222 crore.

Parag’s milk products have a global presence, with the brand available in multiple countries, including the USA, the Philippines, Mauritius, Australia, Korea, China, and Singapore.


Tags
First Published on Oct 16, 2024 8:38 AM

More from Storyboard18

Brand Marketing

Rosé and redundancies: Big tech, big ad spend, and the cost of Cannes amid mass layoffs

Rosé and redundancies: Big tech, big ad spend, and the cost of Cannes amid mass layoffs

Brand Marketing

Colgate India ramps up brand building, automation; Ad spends hit Rs 822 crore in FY25

Colgate India ramps up brand building, automation; Ad spends hit Rs 822 crore in FY25

Advertising

Shark Tank India takes aim at corporate grind culture to promote season 5

Shark Tank India takes aim at corporate grind culture to promote season 5

How it Works

FSSAI’s alco-bev standard amendments open doors for innovation, but also creative avenues for surrogate ads

FSSAI’s alco-bev standard amendments open doors for innovation, but also creative avenues for surrogate ads

Advertising

Divine marketing: Brands flock to temples as spiritual tourism booms

Divine marketing: Brands flock to temples as spiritual tourism booms

Advertising

When Fevicol ‘Bus’ ad stuck its way to a Silver Lion at Cannes Lions 2002

When Fevicol ‘Bus’ ad stuck its way to a Silver Lion at Cannes Lions 2002

Brand Marketing

Parle responds with a witty crunch to Britannia's Pride Month invite

Parle responds with a witty crunch to Britannia's Pride Month invite

Advertising

Japan’s FTC slaps Dentsu and five firms with 3.3 bn yen penalty over Tokyo Olympics bid-rigging

Japan’s FTC slaps Dentsu and five firms with 3.3 bn yen penalty over Tokyo Olympics bid-rigging