The fall of Lehman Brothers on September 15th 2008 put businesses on edge across the world, including us, a firm that had just set-up shop six weeks earlier in a tiny three by four meter office in Kuwait City. At the time we thought if a company with the legacy of Lehman Brothers could fall, surely its only a matter of time for us. But somehow, perhaps out of pure luck, we already had clients on board and we even closed our first few months in the black. Then November came. Not a good month in Kuwait that year. The business environment worsened, defaults by local financial institutions made headlines, but the sky didn’t fall. Like many at the time, we thought that was the worst of it, little did we know it was only the ripples from Wall St.
It wasn’t till December 2008 that the waves from Wall St. reached Kuwait’s shores. More companies defaulted, banks stopped lending to clients, and our colleagues at other PR firms and marketing agencies were telling us that their clients have slashed their budgets, or pulled them altogether. Now the sky was falling. Not a great time for a startup targeting the financial industry.
But oddly enough, we were getting calls. Calls from oil and gas companies, real estate firms, and others. We were being brought in to help communicate corporate restructures, debt restructures, and mergers and acquisitions. We were even brought in to help launch an IPO at a time when the drought in capital markets was at its peak. By our first anniversary on August 3rd 2009, we had signed 10 clients. Perhaps we did come in at the right time, with the right set of skills, and just the right amount luck …well, maybe a lot of luck.
Bensirri PR is ten years old today. Looking back, our timing to enter the market couldn’t have been better. In the last ten years we have served as communication consultants on over USD3.0 billion worth of financial transactions. The track-record we gained as a firm and as a team was a result of the unique mandates of that period. A track-record that puts our firm on solid ground for the years to come, and lends us a unique perspective for the opportunities and challenges of the future.
That was our story. Interested to know more? Contact us today and we’ll tell you the whole story, and, more importantly, what we can do for you. What’s your story?