UK-BASED communications services group WPP plans to enhance collaboration between 26 companies and gain market share in China as it grows organically, CEO Martin Sorrell said in an interview with Shanghai Daily yesterday.
“Our biggest opportunity here is to increase market share and be more locally sensitive to clients as local companies are becoming a more important factor in China,” Sorrell said.
“We’ll be relying on our existing businesses and by growing our market share in China but our focus will be shifting to more localized services and business model,” he said.
Sorrell reiterated that the group will focus on new markets, new media, digital and collaboration as part of its Asia acquisition strategy.
He noted that local brands are gaining ground and becoming more competitive. He said the gap between local companies and multinational corporations is narrowing, citing a recent Asia Brand Power report released by the group’s consumer insight unit Kantar Worldpanel.
WPP yesterday unveiled the WPP Campus in Shanghai which will house more than 3,000 employees from 26 WPP Group companies in the city.
The relocations are to begin in early December.