Raymond has shortlisted Leo Burnett, RK Swamy BBDO and Contract Advertising for its Rs 45 crore advertising account.
The account is currently with Enterprise Nexus, which has handled the account for more than seven years.
While Raymond declined to comment, Leo Burnett's managing director Arvind Sharma confirmed the move. "It is true that Leo Burnett has pitched for the Raymond account. While we have already made our presentation, no decision has been taken thus far on which, out of the agencies that have pitched for it, the business would go to," he said.
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Industry sources indicate that a decision is likely to come through by early next week. "While we have done our best, now it is up to the company to take a decision soon," Sharma said.
The sources further indicate that it is for the first time that Raymond would split the major chunk of its business between two agencies. While Leo Burnett is in the race for Raymond's retail business (approximately Rs 24 crore), it is possible that the corporate part of the business (approximately Rs 21 crore) would be handled by RK Swamy BBDO. Till now, Enterprise Nexus had been handling the entire business of Raymond. However, brands such as Parke Davis and Kama Sutra are currently handled by Ambience D'Arcy.
The move comes close to the heels of the recent exit made by Rajiv Agarwal, who stepped down as managing director of Enterprise Nexus some time last month. Agarwal is now officially the head of RMG David.