Raj Batra, Director at Mosiac Events, a wedding specialist agency, has entered a joint venture with SOI Live Marketing, an established player in corporate events and live marketing space, to form “Golden Vibes Events Pvt Ltd”.
Objectives of the JV:
This joint venture involves two businesses pooling their combined experience of almost 35 years, resources and expertise to achieve greater heights.
The reasons behind forming a joint venture include business expansion, development of new products or moving into new markets, particularly overseas.
The main objective is leveraging the increased bandwidth for faster growth, widening the market and exploring the untapped market.
Use each other's strengths and bring them together to build an exclusive brand in the market.
This merger will focus on knowledge transfer and training while equipping the group for more effective service. The aim is to increase the effectiveness of experiential marketing and social events by using group expertise and knowledge.
To start catering to the international diaspora.
To set benchmarks in delivery through creativity, innovation, value pricing and practices and processes.
GV (Golden Vibes) will be focusing on more of potential client base, whether it is a large scale or smaller scale projects.
Geographical Spread of area of operations:
• GV has expanded its wings to all the metros across India to cater to entire India market, not just for weddings, but also for corporate events to be executed nationally and internationally.
• With greater capacity & increased technical expertise GV aims access to established markets and distribution channels.
• Both Raj Batra and Himanshu Shah of SOI have been working nationally already, with individual client base across the country respectively in social & corporate domains.
• With the past experience of overseas weddings and events of Raj Batra, GV seems equipped with the manpower and resources to execute overseas weddings and events for clients globally.
Individual Contribution of SOI and Raj Batra in this collaboration:
A vision of leveraging upon the mutual passion for event management to expand the capabilities and maximize the outreach,thereby providing clients with value-added solutions for their needs to help them achieve their desires in the most creative fashion.
SOI is an established player in corporate domain and Raj Batra is an established personality in wedding planning industry.
Market Potential & Growth Objectives of the JV:
The wedding business is more on emotions and not the GDP or market scenarios. Any family/ individual aspires to put in his best resources or efforts for the wedding of their loved ones.
This is a market that has not shown a diminishing trend.
Among the odds Gujarat stands on the top of the wedding market as people here are more traveled and exposed to the trends worldwide. It is certainly a market with ample of business opportunities.
From last year the market has seen a 20 - 25% rise in exploring local/destination Weddings.
GV will grab the opportunity of the growing market with their existing and combined recourses to cater more than one wedding at a particular time frame.
