Isobar opens for business in Bulgaria
The move comes in response to an increased demand for digital expertise and services in the country and builds on Global CEO Jean Lin’s strategy in continuing to build Isobar in key emerging markets as well as established markets. The launch of Isobar Bulgaria will increase Isobar’s global footprint to over 85 locations in more than 45 markets.
Isobar Global CEO, Jean Lin said, “As a global digital agency, we continue to invest in emerging and high growth markets, to ensure we provide our clients with global insights with local relevance and delivery capabilities. The strong start-up culture and innovative talent in Sofia provide a tremendous opportunity for Isobar in Bulgaria, and we are delighted to welcome the team at this exciting time. Isobar Bulgaria, together with the 150+ Isobar eCommerce specialists in Bulgaria, will form a great foundation to support strong growth both locally and for our EMEA region.”
Isobar Bulgaria will be overseen by Maria Grachnova, CEO of Dentsu Aegis Network Bulgaria, who will be responsible for growing the agency’s headcount and footprint on the market.
“The launch of Isobar is a signal that Dentsu Aegis Network is committed to the region and its strategy to lead digital innovation and thinking for clients,” said Grachnova. “We are constantly innovating and scaling up on capabilities and design thinking to help brands capture consumers’ hearts and minds, and ultimately, to drive real business results.As a digital agency in the digital economy, I am confident that Isobar Bulgaria will be able to offer the most innovative talent and services to our clients.”
The rolling out of Isobar is supported by the appointment of Hristo Topuzov as Business Director, responsible for the development and expansion of agency services on the market. Hristo was previously client director at Dentsu Aegis Network. “Bulgarian creativity is meeting high-tech for the first time. The market is maturing digitally and clients have been thirsting for award winning creativity and digital expertise… And now they have it.” said Hristo Topuzov, Business Director, Isobar Bulgaria.
With an Internet penetration of 60% Isobar Bulgaria is going to operate in a market of over 4 million Internet users. Social media usage and especially Facebook has grown dramatically in the country to over 3.3 million subscribers. Smartphone penetration has also increased to 48% locally, nearly double the level seen in 2013. The digital ad spend is forecasted to grow at a steady pace in next three years with technology solutions incl. programmatic and mobile being the major drivers.
It is still not well known, but Bulgaria is has one of the lowest income tax rates (10%) and has one of the fastest internet speeds in the world. Sofia has also become one of the Top 10 Cities around the World to Launch Start-up Company and а strong regional hub for digital entrepreneurs and specialists, such as VRay - rendering 3D that nearly has a monopoly in the architectural space and eCommera, a market-leading commerce specialist agency, acquired by Isobar in 2015. Its Bulgarian office employee over 150 best in class specialists.
(sources: Internet Live Stats, Carat Ad spend report 2016, Forbes 2015)