MullenLowe has announced a full buyout of MullenLowe Vietnam by Saby Mishra, former CEO of J Walter Thompson Vietnam.
The agency will operate as MullenLowe Mishra following regulatory approval, with Mishra as chairman and CEO. The move comes one month after a management buyout in Malaysia. MullenLowe Mishra will remain part of the MullenLowe Group network as an affiliate.
“This is a leap forward to be ahead of the curve in a consumer market that’s transforming into a sizeable middle-income nation with a growth story," Mishra said in a media release. "We are taking the core of the MullenLowe brand and building out a nimble and culturally rooted local agency that’s designed to serve this market with flair and entrepreneurial spirit. This will be about combining the agility and insight of a locally driven agency with the depth and reliability of an international company to build a digitally driven and data-centric operation. That’s going to be the standout aspect, and I strongly believe there is real appetite among clients here for this proposition.”
Mishra has extensive previous experience within the IPG family. He worked for Lowe from 1993 until 2011, during which time he served in roles including Vietnam MD, regional business director and MD of Lowe Lintas India.
Vincent Digonnet, CEO of MullenLowe Group APAC, said MullenLowe Mishra will have the agility to move fast in a dynamic market, whilst ensuring access to global talent, tools and resources.
"[Mishra] is a respected industry leader who has played an important role in the evolution of the advertising industry in Vietnam," Digonnet added. "His deep experience of the market and commitment make him the ideal leader to take the helm, and I wish him and the team the very best of luck for the future.”