Rosabel Advertising may bounce back
Rosabel Advertising, a one-time leading traditional creative agency in Nigeria, whose demise last year sent shock waves around the industry could be making a comeback soon.
This was made known to MARKETING EDGE by the Group CEO of the Rosabel Group, Mr. Ayo Oluwatosin recently in Lagos. Mr. Oluwatosin disclosed that the owners of the defunct agency are already making plans to revive Rosabel. But he did not say when the agency was likely to make a return or the turnaround strategy that will be adopted.
“There are plans to revive the agency, but the plan is not something I want to talk about now, but we have such plans,” he said recently in Lagos.
Mr. Oluwatosin, an ad veteran, was a former Managing Director of Rosabel Advertising. In his time, Rosabel was considered one of the leading and most creative agencies in Nigeria and boasted of some of the juiciest account in the industry. Oluwatosin served his time and left, but was later recalled to head the Group during its moment of crisis.
Rosabel advertising actually started losing its cutting edge when some of its best hands started leaving for rival agencies and it started experiencing liquidity challenge.
The agency’s predicament was made worse a few years ago when Leo Burnette, a global agency marketing network pulled out of its long term affiliation with the Nigerian agency in favour of an equity based relationship with Insight Redefini, member of the Troyka Holdings.
The change dealt a fatal blow on Rosabel as it resulted in the loss of multinational accounts across the Rosabel Group subsidiaries including Byte Size, MediaSeal and of course Rosabel Advertising. This pushed Rosabel deeper into liquidity problems and further depleted its human capacity, until last years when it finally folded up.
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