It would appear to be agency switching time for luxury brands. Following UM’s global win as media agency of record for Coach Inc., a New York design house of luxury accessories and lifestyle brands, sibling agency Initiative Middle East has now won the Coty account, which also is a US based beauty company.
As per the regional review, the media business for Coty will be handled by Dentsu Aegis Network’s Vizeum in Iran.
The developments have given some much needed boost to the industry, in a year when significant slowdown has been observed.
Part of the MCN group, Initiative’s mandate includes handling all of the media planning and buying duties in the GCC region for the US conglomerate. Initiative officials are yet not speaking on the development, indicating that an official announcement may be two weeks away.
Globally, the account will continue to be handled by Zenith agency which is a part of Publicis Media. The media account includes all Coty brands including Procter & Gamble specialty beauty business that Coty had acquired bringing brands like CoverGirl, Max Factor, Hugo Boss, Gucci, Wella and Clairol under its umbrella.