Raymond conducted a search for a new ‘Complete Man’ ad through a first-of-its-kind model hunt through Facebook this year

Mumbai: Raymond Ltd, world's largest producer of worsted suiting fabrics said its ad spend on social media is likely to grow by 400%, reports PTI.

The company had spent about Rs35 crore on advertising and marketing last fiscal of which Rs5 crore was on social media which was witnessing 400% growth in the first quarter of this fiscal, according to a press note issued.

The company conducted a search for a new 'Complete Man' ads through a first-of-its-kind model hunt through Facebook in first quarter of FY13 and for which it attracted hundreds of responses from young male models from across India, it said.

A report 'Explosion of Social Media: Transforming the Corporate Business Scenario,' released by ASSOCHAM in late 2011 observed that majority of start-ups, leading national and international companies operating in India are embracing social media to enhance their business and on an average spending anywhere between Rs2 lakh to Rs50 lakh a year on social marketing campaigns.