OMD snags $25m Richemont work

<p>HONG KONG: Optimum Media Direction has won the US$25 million </p><p>Richemont Asia-Pacific media agency of record assignment following a </p><p>shoot-out against Carat, Motivator, Starcom and Initiative. </p><p><BR><BR> </p><p>The luxury goods giant consolidated the account to boost buying </p><p>efficiencies in an effort to offset the economic slump. </p><p><BR><BR> </p><p>Richemont - with brands such as Baume & Mercier, Cartier, Dunhill, </p><p>Lancel, Mont Blanc, Piaget and Shanghai Tang - previously used a roster </p><p>of agencies to service the account, including Carat, Motivator and </p><p>Starcom. OMD, however, was not on its roster prior to the pitch. </p><p><BR><BR> </p><p>The current roster of creative agencies, including M&C Saatchi and Euro </p><p>RSCG, remains unchanged. </p><p><BR><BR> </p><p>The review to consolidate the account - the biggest shift in Hong Kong </p><p>this year - consisted of a review process that spanned several rounds of </p><p>presentations. </p><p><BR><BR> </p><p>Richemont's worldwide media director, Philippe Nettre, said: "Our </p><p>objective is to optimise our media effectiveness at the ground and brand </p><p>level, keeping the individual characteristics that make each of our </p><p>brands unique. </p><p><BR><BR> </p><p>"We chose OMD because of its strong team, proprietary systems, luxury </p><p>goods experience and overall enthusiasm." </p><p><BR><BR> </p><p>OMD regional chief executive, Mike Cooper, said it won through what he </p><p>called "sheer enthusiasm" and "recommendations on new solutions, how to </p><p>handle the business, the types of resources which would be allocated and </p><p>means to enhance the efficiency of the buying process". He said OMD had </p><p>to demonstrate a consolidation strategy while meeting the specific needs </p><p>of each brand under the control of Richemont. </p><p><BR><BR> </p><p>Richemont distributes its products across the region including in Hong </p><p>Kong, China, Taiwan, Singapore, Malaysia, Korea and Australia. However, </p><p>the bulk of its adspend is in Hong Kong and, increasingly, China. </p><p><BR><BR> </p>