Two years after winning top honours at Media's Asian Marketing Effectiveness awards, Japanese consumer credit company Aiful has found itself in very hot water —thanks to the very campaign that spurred its success.
The advertising, featuring a big-eyed chihuahua became a massive hit, helping Aiful overtake fierce competition from its rivals in Japan's 'big four' consumer credit groups. The dog was named Japan's most valuable advertising brand last year, and a massive spike in consumers followed. But earlier this year, all of Aiful's operations were halted, after financial regulators accused it of bullying borrowers and breaching lending laws.
Aiful president Yoshitaka Fukuda, one of Asia's richest men, has responded by apologising and taking a hefty pay cut. Is this enough?