After the acquisition is completed by the end of the year, Havas will become the only global group with physical presence in all five countries of Indochina. Havas will now have new operations in Cambodia, Laos and Myanmar, while boosting its business in Thailand and Vietnam.
“With over 230 million people in one of the world’s fastest growing and most dynamic regions, Indochina is a tremendously exciting market for Havas and its clients, said Yannick Bolloré, chairman and CEO of Havas.
Established in 2000, Riverorchid brings to Havas a team of 250 people offering advertising, media, public relations, research and digital services. Eighty-five per cent of Riverorchid’s staff are Indochinese nationals, complemented by 35 expats from five continents, according to the agency.
Its structure already mirrors the 'Havas Village' concept, which the network claims is a competitive advantage as it allows teams to collaborate across agency brands and capabilities.
According to Riverorchid, the agency's annual billings now exceed US$30million. Its roster of includes ANZ, Axiata, Coca-Cola, Gallup, ITG, Merisant, Microsoft, SCG, Roche, Total and Unilever.
Simultaneously, Havas Media Asia Pacific officially sealed a majority stake in its franchisee partner Havas Media Vietnam. Hung Do Trong, the current CEO leading a team of 50 will continue to helm the agency reporting to Vishnu Mohan, APAC CEO of Havas Media Group.
The formal acquisition of its franchisee partner came after a four-year working relationship. "We are delighted to take the relationship to the next level. A key objective is to provide clients with a consistent suite of services and solutions across Southeast Asia," added Mohan.
Riverorchid has won Campaign Asia Pacific's Creative Agency of the Year gold award for three years running in its region.