The Gour Gupta-led agency purchases DDB Mudra's entire share of the company
Ignite and The Max now belong exclusively to Tribes after DDB Mudra sold a 100 per cent share in them, marking a significant milestone.
Tribes’ journey began in 2015, under the leadership of Gour Gupta. As the former CEO of Clear Channel Mudra and CEO of DDB Mudra Max OOH and Experiential, Gupta acquired Clear Channel's stake in the joint venture with DDB Mudra. The decision to rebrand the business as Ignite Mudra paved the way for the emergence of the parent brand, Tribes.
Since its inception, Tribes has expanded its portfolio of services, encompassing a diverse range of cutting-edge offerings. The agency acquired a 51% stake in DDB Mudra Max, a prominent Experiential & OOH agency, expanding its reach and leveraging a wider network of resources and expertise in 2018. The company was rebranded as ‘The Max’.
Now, in a momentous development, Tribes has successfully bought a 100 per cent stake from the venture with DDB Mudra, achieving full ownership and control over its operations, signifying a new chapter in the agency's evolution.
"We are thrilled to announce our successful 100% acquisition of Ignite and The Max from DDB Mudra," said Gour Gupta, Chairman, Tribes. "This strategic move further strengthens our position as India's largest OOH and experiential agency, and we are excited about the opportunities it brings for growth and innovation."
A DDB Mudra Group's spokesperson, meanwhile, said, "We wish Gour and his team the very best in the future. It has been a fruitful partnership and we've done some good work together. As we focus on our core brand, creative and digital businesses, we have been rationalizing our portfolio - starting with the move to a minority holding in this business five years ago. Now that the Max Publicity team is doubling down on their ambitious expansion plans, we are happy to have them take full ownership of our shareholding."
As a fully integrated agency Tribes has a slew of specialist brands under it including Ignite, The Max, Insync, The Tech Company which offer a comprehensive suite of services, including OOH advertising, experiential marketing, activation, digital solutions, and more.
Tribes now have an extensive client roster with over a 100 clients which includes industry giants such as Amazon, Facebook, Google, Honda, Swiggy, Diageo, Michelin, Phillips, OnePlus, Pepsi, Jockey, Yamaha, Kotak Bank, HDFC ERGO, Marks & Spencer, H&M, Godrej, WNS, Aditya Birla, Real Me, HP, Microsoft, Schneider, Government Of India, ITC, Deloitte, PWC, Legrand, MG motors and many more.
The agency currently has a turnover of Rs 521 crore, revenue of Rs 68 crore, and consolidated capitalized billing of Rs 680 crore.
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