Indian branch for Norwich marketing firm OMG
A Norwich-based affiliate marketing firm which already has a branch office in Poland is now launching a new operation in India in an attempt to break into the Asian market.
OMG (Online Media Group), which is based on Colegate and Muspole Street in Norwich, specialises in online marketing for the finance sector and has a range of clients including Alliance & Leicester, HBOS and Virgin Money.
Since being founded in 1999 the company has grown to employ 60 full time staff within the UK and five in Poland and has recently hired four additional employees who will be based at the new Indian office in Gurgaon.
In the year ending August 2008 the firm saw turnover of �19.9m, which rose to �21.9m during 2009 but fell to �16.9m last year.
The turnover to the end of August this year is expected to have contracted again slightly to �16m, but the company hopes to see fresh growth as a result of its international expansion.
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Chief executive Richard Syme said that the business needed to expand into new territories in order to remain competitive with other firms which can provide online marketing services on a global basis.
'Our new offices in India are designed to offer our clients even more international reach,' he said.
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'At OMG we're always ready to capitalise on rapidly growing markets around the world, and India has shown tremendous potential for growth.'
The firm estimates that the Indian e-commerce market is currently worth $4bn and that it will grow by as much as 50pc over the next two years.
'We've got aspirations to substantially expand our turnover and to do that we have to be in more than one territory,' added Mr Syme.
'We now operate in 12 countries doing digital marketing.'
The firm recently won a large contract with the US-based online travel agency Expedia which will see them work across Europe with the brand, as well as Australia and New Zealand.