Aspial appoints McCann Erickson for Maxi-Cash launch in Singapore

The McCann Worldgroup agency becomes the first agency to be appointed by Aspial Corporation for its Maxi-Cash subsidiary since its entry into the local market in February this year. The first phase of the launch campaign has been slated to roll out this month.

With the opening of its seventh outlet at Lucky Plaza, Orchard Road in late August, Maxi-Cash became the largest pawnbroker in the city-state. The number of pawnshops in the Lion City had grown 20 per cent since 2005 and there were up to 122 stores in June.

Maxi-Cash hopes to redefine the pawn-broking industry by offering modern, reliable and professional services, as an alternative source of financing to consumers who have situational or short-term financial needs.

The company also hopes to attract younger customers with new concept stores and is keen to break away from the traditional image of pawnshops which trade with customers behind metal grilles.

Mark Ingrouille, region director, Southeast Asia, McCann Worldgroup said: “The most interesting as well as the challenging element for the agency with Maxi-Cash is helping to define and communicate its unique position as an innovator in the pawn-broking business.”

He added: “Pawn shops generally carry a negative connotation of someone being in dire financial needs. It will be about shifting consumers’ perception via drawing the spotlight on the revolutionised pawn shop which is Maxi-Cash.”

Based in Singapore, Aspial Corporation Limited’s principle activities are jewellery retailing and property development. It owns leading brands including Lee Hwa, Goldheart and Citigems.

The only public-listed jeweller in Singapore will be banking on its experience in jewellery retailing as well as past knowledge of the local pawn-broking industry to compete effectively in the local pawn-broking market.