"We believe in the power of entrepreneurs and local market solutions" - Yellowwood CEO, Kay Nash said last week in Lagos.
"It is now our objective to increase and diversify our investments across the whole marketing services and communications spectrum, and Nigeria is a priority market as it increasingly becomes the gateway to the continent." The firm, which is set to begin its help for businesses, said, it first move will be become an investment partner in blackBox, a Nigerian specialist strategic marketing consultancy.
According to the firm, there seemed no better place to start than with blackBox, a pioneering agency that shares many of its core principles with Yellowwood. "Yellowwood will actively support the blackBox team in generating new business opportunities and developing existing relationships. In addition, Yellowwood will provide the agency with tools, processes and best practice methodologies to enhance their strategy, research and design offering. The combination of these three disciplines uniquely positions the company to provide effective solutions to real world challenges" the firm said.
"We are positioning our group as a global boutique with each business focusing locally, with local talent, personal relationships and truly tailored solutions for every client," Mr Nash said. "At the same time, we will tap into global best practices, the highest quality delivery standards and rigorous systems and processes. It's the best of both worlds."
"Nigeria is a rich, diverse and incredibly powerful country that is an exciting gateway to the continent," Mr Nash said. "I am always inspired and energised by the people, their attitudes to life and work and by their very high level of skills. We are incredibly proud to be partnering with blackBox."
Yellowwood, and its new partner, Nigerian strategic marketing consultancy, blackBox, also unveiled the presentation "Future-proofing your Brand & Business" to key players in the marketing communications industry.
David Blyth, CEO of Yellowwood and Abdulhameed Abubakar, managing partner of blackBox, highlighted the value of trend analysis in strategy development and brand management.
"With the ever changing business climate, businesses now, more than ever have to navigate according to the trends to ensure their future competitiveness," Mr Abubakar said, while Mr Blyth expressed optimism that with a dedicated team of experts on ground, an enormous opportunity in West Africa is seen in Nigeria.
The presentation also shed light on various ways that brands can innovate to leverage these emerging trends. In the brave new world of seamless communication, brands were encouraged to adapt quickly to new patterns of behaviour in emerging markets.
Speaking on the new partnership, Abdulhameed Abubakar said they are partnering with Yellowwood because they see the same great potential in Nigeria as we do.
"This alliance is the perfect marriage of global capabilities and local expertise. Together we will build valuable brands for ambitious companies across the continent and beyond," he said.
In line with Yellowwood's growth strategy, the company will be acquiring a minority shareholding in blackBox with the intent to expand this investment in the future.
Yellowwood is part of the International Omnicom Group as well as TBWA\Worldwide, which places the consultancy in an ideal position to move into new and emerging markets.