They are counted amongst the top six holding companies in the world, and in the first quarter of 2025, registered a revenue growth rate higher than some of its competitors, like Omnicom and WPP. Last year has been an action-packed one for the network, with Havas demerging from Vivendi, giving them greater autonomy for pursuing growth opportunities. Interestingly, 2024 also saw the advertising company meeting their annual revenue guidance with wins like Red Bull, Diageo, Novartis, Johnson & Johnson, Sanofi across markets.
On his India visit, Yannick Bolloré, Chairman and CEO of the company, spoke to IMPACT about the success of the ‘converged strategy’ which he announced at Cannes last year, how digital is accounting for 50% of their media buying globally and how exactly Havas is keeping up with the times and technology. Talking about Havas’ growth story, Bolloré says, “We have seen excellent growth in APAC in the first quarter of 2025, especially in India, where we grew a little bit more than 10% and over 5% globally. So, we are very satisfied with our growth for the first quarter and especially satisfied with what’s happening at Havas in India.” Some of the big Havas clients in India include Reckitt, Hyundai, Voltas Beko, DS Group, Swiggy, TVS Eurogrip, Tata Steel, Tata Motors CV, HUL, Amazon MX Player, Ferns n Petals, Burger King, Pepsi, etc.
Havas’ revenue in India has largely been steered by their media buying division, with their creative counterpart playing catch-up for years. There has been a consistent effort to bring both on par ever since Rana Barua took over as the India chief. But has the Havas Chairman seen much of a development on that front? “So, Havas Media today is one of the strongest players in the industry with 8% market share as far as media buying is concerned in India. With regard to Havas Creative, we have good material for Cannes Lions that is coming from India this year. So, I believe that we could have some good news, good awards to celebrate with our Indian creative agencies in Cannes in a couple of weeks.”
Havas has grown a fair bit on the back of acquisitions globally and in India they have acquired key agencies like Pivotroots, Think Design, Sorrento, PR Pundit, Shobiz and many more. Talking about their acquisition strategy, Bolloré says, “Havas is one of the most acquisitive groups in the industry, we have executed between 5 to 10 acquisitions every year, for the past 10 years.”
We also asked Bolloré about the possible acquisition of one of the most successful independent media agencies in the country, Madison World; and Bolloré responded by saying that they are considering every opportunity in the market.
Visionary, articulate, and refreshingly grounded, Yannick Bolloré, Chairman and CEO of Havas, brings with him legacy and innovation. In an insightful conversation with IMPACT, he reflects on guiding Havas through a defining phase post its Vivendi demerger, his focus on creativity, data, and AI, and India’s rising role in its global narrative. Keeping the 200-year milestone in mind, which is fast approaching the Group, Bolloré says how passion, purpose, and people continue to shape Havas’ journey in a fast-evolving industry
Q] Has the demerger made Havas more attractive for clients and talent, now that you have more autonomy to pursue growth?
That’s a great question. To be fair and transparent, the demerger idea came from Vivendi—one of the largest European conglomerates in media and communication. Today, such conglomerates face heavy stock market discounts. Vivendi’s was nearly 45%. So, they decided to split into four directly listed entities: Havas, Louis Hachette - one of the leaders in book publishing and travel retail, Canal+ - a leader in the pay TV world, and Vivendi with investments, and video game companies. For Havas, this presents great opportunities. It’s been almost six months since we got listed, and I believe it has given us a real boost for our talents and clients as well.
Q] Havas just reported solid first quarter results in 2025, where did the growth come from, and were there any big client wins?
Yes, it has been a great first quarter. We posted a 5% growth in revenue and are very happy with that. Growth came from a different region and different expertise. The U.S. showed strong recovery from last year. Latin America, especially Mexico and Brazil grew fast, and APAC performed really well. India stood out, growing over 10%. We’re very satisfied with the overall growth. Eight years ago, we had huge ambitions; we wanted to multiply the scale by five. We multiplied it by 10. We’ve more than overachieved. I couldn’t be happier, completely over the moon with Havas in India.
Q] I noticed a 0.2% decline in organic net revenue in Europe in Q1, your home market. What led to that? And how do you see Asia-Pacific contributing to Havas’ future growth?
The situation in Europe and India are completely different. Europe usually has flat growth and thus, even a 2–3% growth feels huge. Whereas, in APAC, anything under 10% feels low. The energy in Asia is amazing. I was in Singapore before coming to India and the optimism here is strong. I believe a lot of our future growth will continue to come from this part of the world.
Q] Havas will turn 200 years old in 2035, which is a huge milestone. From being a news agency to a full-fledged communications group, are we going to see another big pivot with you at the helm?
Havas is celebrating its 190th anniversary this year. It was founded by Charles Havas as a news agency, then a newspaper, and he started advertising to fund it. We’ve since become a leading communication group. While we’ll stay in this space, the industry has transformed drastically in the past 20-25 years, first with digital, now with AI. Advertising today is nothing like it was 25 years ago, and I’m sure in five years, it will evolve even further.
Q] Last year at Cannes, you announced the ‘Converged’ global strategy. How has it shaped up over the past few months?
Yes, last year we were very busy with the Amsterdam listing and the launch of ‘Converged’. For context, 12 years ago when I became CEO and Chair, we launched the ‘Together’ strategy, regrouping all agencies under one roof to offer a simple, integrated service. It worked well, and now the industry is catching up. ‘Converged’ goes one step further—more integration, and much more data-driven across media, creative, and other areas. It’s already delivering great outcomes.
Q] Havas has been on an acquisition spree globally and in India. Which have been the game-changing acquisitions for you—both here and globally?
I’d say that we have had different transformative acquisitions globally, including a big one in Europe called FullSIX Group - an independent leader in digital transformation - eight years ago; Uncommon from the UK, one of the most creative independent agencies; and a consulting service in London called Gate One, which is expanding quite rapidly. In India, we’ve been very acquisitive. Eight years ago, we were 250 people, now we’re 2,500, that is an increment by 10X in less than 10 years. That scale-up is not easy. Acquisitions along with organic growth, have helped us reach a solid scale in India.
Q] There’s been talk about Havas acquiring Madison, one of India’s strongest independent agencies. Is that on track? Is it the next big move?
Of course, we look at every possibility in every market. But as a listed company, we can’t comment on rumours.
Q] As far as financial performance is concerned, Havas fully achieved its guidance for 2024. Was that mostly due to acquisitions or organic growth?
It’s a combination of both. We carried out around seven or eight acquisitions last year, plus organic growth. So, both played a role. And we expect this year to be another record—both in revenue and EBIT. Year after year, we’re breaking records. Hopefully, it continues all the way to our 200-year anniversary.
Q] IPG and Omnicom merger is on the cards which will create a giant, how will it impact Havas?
Today, there are six global advertising groups, namely, IPG, Omnicom, Publicis, WPP, Dentsu, and Havas. We’re currently the sixth largest, so a merger like that would move us into the top five. It’s a good thing for the industry and for us. They’ll find synergies, and it opens new opportunities for Havas. We’re not aiming to be the biggest, but the best. We believe in staying global, but also feeling like one family. Our scale is an advantage, and with such shifts, it’ll only grow stronger.
Q] Would you say size is a deterrent or an advantage for agility?
Scale is very important in every business. In any industry, it’s a question every CEO and board needs to ask: do you have the right scale? In advertising, you need scale. Without it, you can be a boutique agency, but not operate globally. I believe it’s good to be the challenger however not the outsider, but the underdog. It gives us energy. Our current scale is 23,000 people, €2.8- 3 billion revenue. It’s an advantage. We could be slightly bigger, but integration matters. Otherwise, it causes disruption.
Q] Today there are holding companies like WPP that are merging agencies within the group, some like Dentsu have created a single Creative agency structure. What is the strategy at Havas to manage competitive businesses?
In India, for example, we have Havas Media and Arena Media. They’re not competing, but it’s good to have two offerings, so competing clients can work with us while we create Chinese walls. All clients still benefit from the same thought leadership, media buying power, and more. It’s about complementary, not competitive, offerings. Many competitors are heading that way too. But the key is balance. What I really want is for everyone, whether at Think Design or MPG, to feel part of the same team. Like in football, where my team just won the Champions League, what matters is the team, not the individual. That’s what we’re building at Havas: clients come first, the group second, and the agency third.
Q] Talking about agencies, what’s one expertise you’d want to gain in India that could help Havas play a bigger role in the industry?
Yes, all our efforts around data, digital, and now AI are very important. Of course, talent remains paramount. But we also need the best tools, the best data assets, and access to the best data sources. Our investments in customer experience, design, media, and digital media, everything is paying off. So, our focus is to keep building a future-proof, modern group of agencies.
Q] AI is a big conversation everywhere. How are you integrating it across Havas? And if you had to look ahead—what’s the next big disruptor after AI?
AI is a big one. Honestly, at Havas, we’ve always embraced every industry shift. Before AI, it was the metaverse—we even bought land there, though that didn’t turn out to be very satisfying. But when AI emerged in late 2022, we were the first to embrace it: Midjourney, Adobe Firefly on the creative side. On the media front, everything is data-driven. More than 50% of our media buying is digital, powered by AI tools, algorithms, and programmatic systems.
We’ve embedded AI across our tools and partnerships. My vision is: AI shouldn’t be a separate division—it should be everywhere. We’ve trained over 20,000 people globally on AI basics. I want everyone at Havas to use AI. Because the goal isn’t to be better than AI, it’s to be better with AI. If you’re not using it and competing with someone who is—you will suffer. That’s why we’re giving access to AI tools to all, and building an AI-first culture throughout the group.
Q] You mentioned how revenue in Europe is plateauing. Most holding companies now see India as a silver lining. What kind of growth are you targeting here?
The Indian market is growing roughly by 10% a year. I told Rana and the team that we need to grow at least by 10% or more. For a group like Havas, growing 10% in a double-digit market is already amazing.
Q] You are still the smallest amongst the six holding companies globally, when do you see that changing? Are you aiming to be in the top three?
No, I don’t want to be in the top three. Being in top five is good. After the merger, we would move from six to five. Clients need different types of holding companies, and Havas is unique—it’s the only family-owned holding company, which lets us plan long-term. Clients know they can call me anytime, and I’ll be around for 10, 20, maybe 30 years. I’m still young—less young than before. We’re digital-first, with a strong focus on creativity and differentiated assets. As long as we keep outperforming the industry in growth, our strategy is working.
Q] So, you’re not in the ranking game?
We’re already very big. Being top five globally—not just in a country—is a huge achievement. In many countries, we’re already the market leader. Honestly, that’s already quite something.
