Cheil Worldwide Set To Acquire Iris To Create An Alternative Holding Co Model


Cheil Worldwide would be partnering with Iris, a global creative innovation network and acquiring a ‘significant initial investment’. The deal is expected to potentially rise to 100 per cent of the business over the next five years.

Cheil’s initial investment in iris will be the start of a new partnership that will enable the two companies to extend and deepen their global capabilities in creativity, strategy, retail, digital, data, analytics, B2B and CRM, while offering clients the most progressive work available in the world today.

Cheil has 48 offices across the world including the Middle East with offices in Dubai and is also opening up in Saudi Arabia and Jordon. On the other hand, Iris has 17 offices across the world, including one in Dubai. Iris spread its venture in the Middle East through a partnership with Dubai-based boutique agency Expression in 2012.

“Our goal was to find the right partner who could match our determination and drive. We’ve watched with awe how iris has built its global business and we are delighted to have this opportunity to work with their brand. Their membership in the Cheil Worldwide network will bring great value and agility to us and to our clients,” said Daiki Lim, President and CEO of Cheil Worldwide.

“We are about to enter the most exciting chapter for iris. This partnership won’t change who we are or what we do as a creative innovation network – but will extend our global reach and capabilities, and enable our clients and people to benefit from the huge opportunity presented by a true ‘East Meets West’ and ‘West Meets East’ network,” added Ian Millner, Joint Chief Executive at iris.

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