Lloyd Northover Citigate parent company Incepta Group is to set up a design presence in New York by the end of the year.
The office will either be formed through organic growth or an acquisition, says LNC vice-chairman Jim Northover. Any recruitment will probably be carried out in the US, he adds.
Incepta’s design and publishing offer posted a pre-tax profit of 900 000 in the last financial year. This follows the group’s acquisition for 640 000 of Los Angeles consultancy Bass Yager & Associates last October.
Design capabilities are also planned for the key European markets of Spain, Germany and Italy through the Citigate group.
“We are identifying and looking at a number of acquisitions [in complementary sectors],” says Northover. A design offer would then be seconded from London or built up locally.
Meanwhile, Incepta has increased its total shareholding in Lopex, which owns DIA, to nearly 20 per cent, at a total cost of about 3.9m. Lopex chief executive Peter Thomas cooled talk of a takeover bid when Incepta upped its stake in Lopex to 11 per cent last summer (DW 23 May 1997).
Incepta finance director Kevin Steeds cannot comment on whether the group will increase its stake in Lopex.
On Monday, Michael Ip was promoted from regional director to managing director of Lloyd Northover Citigate Asia Pacific. Jo Clarke, also based in Hong Kong and previously creative director, became a board director responsible for design.