Godrej Consumer Products Limited has invited pitches for its integrated media account, which is estimated to be around Rs 700 crore.
“It has always been a good practice for us to seek continual improvements that can drive cost efficiencies in our media strategy and spends,” Harshdeep Chhabra, Head Global Media, GCPL told Storyboard18.
“…to this effect, we intend to run a transparent and objective media pitch process that will help us to select an appropriate media agency partner,” he added.
This comes at a time when the company dropped its standalone ad spending to Rs 263.57 crore in Q2 FY25 compared to Rs 279.44 crore in FY24.
Read more: Media accounts worth Rs 2500 crore are up for grabs this festive season
Madison is the incumbent agency for GCPL.
In terms of financials, the FMCG major reported a 13.5% rise in its consolidated net profit to Rs 491.31 crore in the September quarter, helped by volume growth in the domestic market and Indonesia.
GCPL’s total expenses in the September quarter were marginally up at Rs 3,039.88 crore.
It is to be noted that companies like Ola, Hero MotoCorp, Lenskart, Dabur, Tata Motors and Kotak Mahindra are also in the midst of media pitches.
Read more: Is Ola’s mega media account up for grabs?
Overall, media accounts worth more than Rs 3000 crore are up for grabs, which most likely will be closed by the end of the current calendar year.