Foreign focus

"Compared to the peak period of 1995-’97, advertising has decreased. At the moment it is manageable, and things are improving at every stage. Advertising will come round again,” predicts Ronny Mistry, managing director (MD) of RMA (Ronny Mistry Associates) Private Limited. Compared to the earlier part of the year, the latter half of 2001 closed on a more optimistic note, he believes.

For almost 20 years, RMA has been the sole advertising representative in India for a strong stable of global publications — Newsweek International, BusinessWeek, International Herald Tribune, The Daily Telegraph, Institutional Investor, Der Spiegel, Far Eastern Economic Review, Le Figaro, Nikkei Business, Textile World, Home and Decor and many others (see "Selling foreign space,” Parsiana, April ’98). The dailies and periodicals span the spectrum of general interest, business, trade, finance, fashion...

Mistry believes that Indian industry and the services sector fully understand the importance of global advertising, citing the example of the Government of Karnataka which booked a supplement in a prestigious worldwide publication like BusinessWeek to tell its software story, enhancing its own and India’s image. Special India sections on industry, tourism, banking, etc have provided concentrated coverage in Institutional Investor, Newsweek, etc. "Advertisers may go in for product advertising, or generic. We guide regular campaigners like the Taj group, ITC (India Tobacco Company) and others as to which publication is best suited to their needs,” he says. While advertising in US editions may be out of reach for some, the Atlantic and Pacific editions are affordable, maintains Mistry.

Ronny Mistry (left) and Kuka

When Newsweek International launched its India edition in 1997, it brought international exposure within the affordable ambit of Indian clients. Indian companies pay in rupees, at a rate which is much lower than what they might otherwise have to spend to advertise in an international newsmaga­zine. Foreign companies pay in dollars, and with liberalization and the relaxation of foreign exchange rules and regulations the path has been considerably smoothened, he explains, adding that it is the business magazines that generate maximum revenue.

Adds RMA chief executive Faredoon Kuka, Mistry’s son-in-law who joined the firm 11 years ago: "We are not just advertising representatives. With the assistance of publishers, we put in research to ensure that clients get maximum reach within a specific budget.” Kuka is the center point for liaising with publishers worldwide, as well as with other RMA offices and their clients all over India. "We expanded considerably after 1991,” says Kuka, bringing more publications into the portfolio and setting up new offices. RMA currently has establishments in Delhi, Calcutta, Madras, Bangalore, Hyderabad, Ahmedabad and Trivandrum.

RMA does not seek representation from the Indian media. "I have received several offers from Indian publications. But we have a unique identity which will be lost if we take on the task of selling space in Indian publications as well,” Mistry reasons. "There will be no difference between us and other advertising concerns.”

Mistry’s venture into advertising began a half century ago when he joined The Bharat Group of Newspapers as assistant advertising manager. Spending five years with The Blitz group and 11 summers with Eve’s Weekly, Mistry worked as advertising manager for 17 years with "the old lady at Bori Bunder” — The Times of India Group, till the spirit of freedom spurred him to snap up, within a period of one hour, an offer of representation from the US-based Newsweek. Working out of a poky den in Flora Fountain, relying mainly on Air India advertising to help business take off, Mistry slowly expanded his portfolio, moving to Matunga and then to his present office at Bandra. His wife Dinaz is joint MD.

Amongst his other achievements Mistry has been the honorary secretary and the vice president of the Advertising Club of Bombay, founder member and charter president of the Lions Club of Matunga, as well as a founder member of YOU (Youths Own Union).