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Publicis Cape Town becomes Herdbuoys éKapa
In what has been hailed as a Mother City first, HerdBuoys Advertising, South Africa's first Black-owned advertising agency, has bought a 26% stake in the former Publicis Cape Town office.
The new entity, called HerdBuoys éKapa, came about following a recent management buyout at Pubicis Cape Town. Publicis had been operating as a local chapter of the international agency for six years.
The agency's new Chairman said HerdBuoys were attracted to the deal because the "local management and their clients understand our business philosophy and, indeed, the country's new way of doing things".
"The consumer has become the new marketplace", he added, "and today they demand an agency that understands their beliefs, fears, aspirations, etc."
Kobus Potgieter, the current MD, will retain his position as the agency embarks on a new restructuring process in order to make the company fully representative of the country's demographics.
In addition to this, the agency announced that the plan was to increase HerdBuoys' stake to 50% within a year.
