Nippon Paint pitches China media business

SHANGHAI - Nippon Paint is set to pitch its 150 million RMB (US$20 million) media buying and planning business in China, after signalling it will part ways with incumbent Starcom.

While it is believed that the company has awarded an interim assignment to Carat, the full pitch is expected to involve four contenders, who are believed to have already been briefed.

Nippon Paint executive Judie Hu confirmed that the pitch was taking place, but declined to provide further details. Both Starcom and Carat declined to comment.