SHANGHAI: Vanke - China's biggest listed property developer - has
appointed Grey Worldwide to handle its corporate image campaign, worth
up to RMB80 million (about USdollars 9.6 million) a year.
Grey won the account following a pitch that involved 12 agencies,
including nine multinationals.
This is the first time that Vanke has retained the services of an MNC
agency and chairman Wang Shi said the aim was to adopt a "more
aggressive brand promotion strategy" to increase market share.
"Grey is now focusing on formulating a comprehensive brand planning,
marketing and promotion strategy for campaigns which will roll out in
the near term," Wang said.
Viveca Chan, Grey China chief executive officer and chairman, said that
although Vanke is a market leader in its category, it has decided to
adopt a more aggressive stance because Beijing's expected entry into the
World Trade Organisation will almost certainly result in a sharp
increase in competition.
"Vanke is a company well-known for developing and managing high-grade
property throughout China but the brief is to further strengthen the
brand name so that it can retain its top-place ranking in the long
term," Chan said.
Wang added that he expected the appointment would also counter
competitive pressures from other Chinese property developers.
