Indian Oil Corporation Limited (IOCL) has empanelled three creative agencies – Dentsu, Percept’s AMO Communications and Mumbai based Inter Publicity for its communication needs for a period of two years.
The news has been confirned by officials like Rajesh Aggarwal, President, Dentsu India; Yogendra Gouti, Director, Inter Publicity; and Jitendra Khokle, Chief Operating Officer, AMO Communications.
While the exact size of the business could not be ascertained, IOCL spends an estimated Rs 100 crore annually on advertisements, and one can expect the trend to continue.
The pitch, which was for the corporate duties of the brand, was called for a month ago. Almost 26 agencies showed interest to participate in the pitch process. After one round of essentially creative presentations, the three agencies were selected.
The brief circulated amongst the agencies focused on the company’s completion of 50 years.
The incumbent agencies on the corporate business were Percept’s IBD, Goldmine and Foresight. IOCL has a separate set of empanelled creative agencies for its product portfolio.
It is also learnt that no media pitch was called for and Lodestar Universal continues to be the media agency for the company. As per the three year long empanelment contract, Lodestar has completed two years in the role of the media agency for IOCL. The media duties will reportedly go up for pitch after a year.