UFM is a 20-year-old field-marketing company OMG acquired in 2010 and rebranded as CPM China this year. Multiple undisclosed sources indicated the agency had been closed over the weekend.
Jonathan Klingender, CEO of CPM Greater China, called the reports rumours. "I was surprised that a couple of incorrect and anonymous weibo posts had become news," he said.
A former employee of Unisono contacted by Campaign Asia-Pacific Thursday morning said he had heard about the closure from two other people over the previous few days.
"I would like to thank you for the opportunity to set the record straight,” Klingender said, adding:
- In October 2010 Omnicom Group took 100 per cent ownership of UFM;
- In January 2011 UFM was moved into the CPM network, a wholly owned subsidiary of Omnicom, to leverage the benefits of the world's leading field marketing business;
- In March 2012 UFM was rebranded CPM China and fully integrated into the CPM global network.
He said the business continues to be an important focus for CPM, demonstrating its commitment to China and to continuing investment in building a global brand to deliver field-marketing services to its clients.
CPM China provides outsourced sales and merchandising services, including retail auditing, channel management and event marketing, to a range of multinational and Chinese clients in the FMCG, retail and IT sectors.
Klingender added that CPM works with leading manufacturers in the FMCG category, as well as with one of the worlds leading technology companies, and has over 300 people representing its client’s brands in over 45 cities in China.