Korean auto major Hyundai is set to diversify its business presence in the country by launching separate divisions through its in-house advertising agency -- Innocean Worldwide. The new segments will include event management, data management and sports management.
With an in-house sports management company in place, Hyundai will look to enter the sports celebrity management business, besides spending money on sponsoring sporting events, sources said.
Currently, tennis star Sania Mirza and film star Shah Rukh Khan endorse the Hyundai brand. The sports celebrity management business is estimated to be more than Rs 100 crore (Rs 1 billion) with cricketers driving the sponsors.
Explaining the rationale behind the launch of the specialised sports management division, Steve Jun, executive director and global division head, Innocean Worldwide, said, "Hyundai is sponsoring major sporting events such as the FIFA World Cup, Davis Cup and motor racing through Innocean's sports management company in Korea. We will gradually extend the division to India as well."
Innocean India, which has completed one year, is also set to extend its creative consultancy to non-Hyundai clients. According to industry sources, Hyundai Motors India will make at least four announcements of new launches and variants this year.
Innocean India would double its staff strength to cross 50 by next month when it launches its second office, said Vivek Srivastava, executive director, Innocean India.