MUMBAI: A sleeping giant in India seems to be awakening. The $10.5 billion Omnicom, the world’s leading ad and marketing communications holding company, appears to be drawing up an ambitious acquisition and expansion blueprint for this turbo market. Global holding company WPP has overwhelming sway over at least 50% of total ad revenues here via its media specialist GroupM, but expect the clash of the ad holding companies in coming days and a tug-o-war for fecund Unilever/HLL business, predict industry pundits.

If market sources are right, after decades of sober growth and presence here, Omnicom seems to be finally eyeing livelier figures and activity here. Word has it that top Omnicom brass could be looking at setting up a new fully-owned, full-service Omnicom ad agency in India, which may well handle juicy, new and existing Hindustan Lever and Unilever business. This could help pave the way for the imminent entry of media-buying combine and specialist Optimum Media Direction (OMD) to take on the might of WPP’s GroupM.

Spearheading this challenge are non-executive chairman of Omnicom Group Inc in India, Keki Dadiseth, and the visiting London-based Asit Mehra who’s in charge of growing global Unilever business for Omnicom’s DDB network.

Dadiseth tells DNA Money that this buzz of a new Omnicom agency brand is mere speculation, but says that OMD could roll out very soon here. He says, “Yes indeed, we are looking at plans to launch this powerful brand and its capabilities in India, but our plans are yet some months from finalisation.’’

About their mandate to bag key HLL business here, he says, “Omnicom’s DDB is already an aligned Unilever agency globally. All alignment decisions on Unilever are taken almost centrally (London), not locally out of India.”

As is known, Omnicom’s global ad networks have stakes here via the RK Swamy BBDO (50%), Mudra DDB (10%) and TBWA (51%) and they’ve hardly been successful in upping their equity ante in some of these set-ups. Omnicom’s proposed takeover of Delhi-based Capital Advertising is also falling through, say sources. Also, Ambani may hardly concede more Mudra equity to Omnicom’s DDB, and hence setting up a “parallel’’ DDB to handle UL business could be more prudent, say ad circles. As per industry estimates, yearly billings for RK Swamy is Rs 400-crore-plus, for TBWA is Rs 250-crore-plus, for Mudra is Rs 850-crore-plus.

Some ad men say that a fully owned Omnicom outpost would be a vital pre-requisite to roll in a consolidated media-buying exchange or global media specialist brand like Optimum Media Direction for Omnicom agencies here. “A spanking new set-up directly owned by Omnicom, and with potential to do great creative, would serve as better magnet for businesses like HLL. Controls would be four-square in Omnicom’s hands in this scenario,’’ is the reigning wisdom. It’s not clear if Omnicom would look at exiting any of its current equity relationships in the process, though there is speculation that could occur in due course.

What’s indisputable is that increasingly pedigreed MNCs  like Unilever are being intensely vied for at not just ad network level, but also at holding company level. Mehra, who was earlier with Lowe in Mumbai and then in London as helmsman of its global Unilever business and is currently helping expand this client’s portfolio globally for Omnicon/DDB, is the cynosure of all eyes. It may be recalled that he was recently at the centre of recruitment counter-bids between holding companies IPG (holding company of Lowe) and Omnicom.

His deep connections with Unilever and HLL from the agency side are complemented by Keki Dadiseth, former chairman, HLL and board director, Unilever, in London. Industry insiders say this duo could help Omnicon pack a potent punch against other holding group agencies at local level as everyone sprints for a bigger share of Lever ad business. Can we expect an IPG versus Omnicom tussle here too, in this race to push the right lever?

Either way, Omnicom will have to make its moves fast against hyperdrive rivals like WPP who’s been relentless in its M&A mission, adding ad networks like Grey and Bates on global plane and specialist units like Indian design firm Ray & Keshavan locally.