Burson Enters Vietnam Though Joint Venture
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Burson Enters Vietnam Though Joint Venture

Burson-Marsteller is launching an operation in the fast-growing Vietnamese market through a joint venture with local partner Chu Thi Company.

Holmes Report

HANOI—Burson-Marsteller is launching an operation in the fast-growing Vietnamese market. The agency will enter the market through a joint venture with local partner Chu Thi Company, a leader in Vietnam’s content industry and creator of daily talk shows airing on official government national television channels.

Burson is the second major agency in recent weeks to announce plans for the Vietnamese market, following Edelman's acquisition in February of AVC Communications. Ogilvy Public Relations Worldwide—like Burson, a WPP company—had acquired Vietnam’s T&A Communications in 2009.

Chu Thi Co founder, Chu Thi Hong Anh, has been associated with WPP since 1995, and has served as chairwoman of JWT and Mindshare in Vietnam.

Vietnam is one of the fastest growing markets in the world, identified by Goldman Sachs as one of the Next 11 economies to watch, with a population of 87 million and a GDP growth rate of 5.9 percent.

WPP has been operational in the country for more than 10 years. Last year, it acquired Who Digital, establishing a joint venture with OgilvyOne. Before that, WPP acquired 20 percent of Smart Media and WPP’s media unit GroupM took stakes in three subsidiaries of the DacvietVAC Group Holdings. WPP businesses in Vietnam generate revenues of over $ 50 million and employ over 1000 people.

 

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