MullenLowe Group confirms selling off majority stake in Japan biz

London headquartered global integrated marketing communications network, MullenLowe Group has reportedly made it to the headlines following its confirmation of selling off a majority stakes in MullenLowe Japan to one of the local management holding companies, bionomica KK.

The transaction amount for the deal has not been declared yet.

Reports suggest that the new entity would be known as Fabric and would apparently remain associated with the MullenLowe Group network, and IPG precisely. In fact, both MullenLowe Group and IPG are expected to remain committed to Japan, recalling a 15% share in the business.

According to credible sources, Fabric will aim to make use of strategic thinking and storytelling to help businesses restructure problems and create shared value with communities and customers. Moreover, the new management holding company is deemed to be controlled and led by former CEO of MullenLowe Japan, James Hollow.

For the record, James Hollow has been serving the company since 2013.

Speaking on the move, James cited that the outbreak of COVID-19 pandemic worldwide has accelerated trends that the society expects from brands and businesses, driven by government regulation, consumer demand for more sustainable alternatives, and relationship that clients want to have with the companies both as employees and consumers.

Hollow added that this move apparently, enables MullenLowe to focus on supporting its clients and their brands into the new social fabric, by blending its heritage strengths in marketing communications with some of the newly procured strategic expertise and market insights.

Last week, MullenLowe Group and its businesses in US and MENA had announced receiving two awards at Webby Awards. While MullenLowe US received Best Media Strategy 2021 for their ‘Cut Out The Bullshit’ campaign for Change the Ref, MullenLowe MENA was awarded the Best Viral PR Campaign 2021 for their ‘World’s Tallest Donation Box’ campaign.

Source Credit: https://www.brandinginasia.com/mullenlowe-group-to-sell-majority-stake-in-japan-business/