M&C Saatchi Worldwide is strengthening its presence in China through a tie-up with Chinese independent creative agency aeiou, which will see the launch of a new Chinese agency.
Through the joint venture, both companies will merge their operations with immediate effect to launch a brand new Shanghai-based agency, called M&C Saatchi aeiou.
The new agency will be based at aeiou’s offices in The French Concession of Shanghai and will become the new hub of M&C Saatchi’s operations across Greater China.
As part of the deal, aeiou founders Tony Liu and Michael Liu will lead the new operation as executive creative director and managing director of M&C Saatchi aeiou, respectively. Both will report to M&C Saatchi Asia chief executive Chris Jacques, and in addition have been appointed managing partners of M&C Saatchi Greater China.
Aeiou partners will initially have a majority stake in M&C Saatchi aeiou, with a view to M&C Saatchi Worldwide becoming the majority stakeholder over an agreed period of time.
“China is a fundamental part of our global strategy, and we’ve joined forces with the ideal partner to help us continue to build momentum in this critical market,” says M&C Saatchi Worldwide chief executive Moray MacLennan.
“In Michael, Tony and the team at aeiou, we have found our perfect partners,” adds MacLennan. “They’ve built an agency producing world-class work for both local and international clients. And they share our belief in ‘Brutal Simplicity of Thought’, and a laser-like focus on building business results for our clients.”
Commenting on the deal, Michael Liu said that “SI Partners provided valuable insights into the transaction and advised us throughout the deal. They will continue to advise us on the development of the business”