Martin Sorrell, chief executive of advertising and marketing giant WPP Group PLC, is bullish on Russia. In Moscow for a WPP board meeting, Mr. Sorrell said WPP wants to quadruple the size of its Russian business over the next five years.
“Our business in Russia is the smallest in the BRICs, but it’s the fastest-growing,” he said, referring to Brazil, Russia, India and China.
New acquisitions in Russia this year have brought WPP annual revenue in the region to about $125 million, growing at about 35% this year. WPP wants to bring that to about $500 million over the next five years, he said.
[via The Wall Street Journal]