Tan said that the company was not looking to replace Lowe, but would focus on doing print ads in-house and may use small local agencies to produce TVCs. "There is a lot of untapped local talent out there in the smaller shops," she said.
The contract was terminated last year; Lowe's last assignment was Ikea's Lunar New Year campaign. On the new strategy, Tan said: "We have a saying in the Ikea world: 'Dare to be different'. If that means going against convention, so be it. If that means, by going into uncharted waters, it will lead us to being more efficient and effective, we'll plunge right in."
The parting of ways between Ikea and Lowe is surprising, given the good creative work that Lowe has done for Ikea. In 2002, the 'Dog' TVC won a gold Lion at Cannes. Lowe's 'Gangsters' TVC was also voted one of the most popular TVCs of the year by readers of a local lifestyle magazine.
However, Tan noted that there were misses as well as hits: "Of course the agencies would prefer to forget the misses, but ultimately, someone's got to be accountable for those dollars spent. Is it the client? Is it the agency?
"As far as Lowe's work is concerned, we've had our hits and misses too. Awards are validation for the agencies from their peers, which is fine if it's their thing, and as long as the client is OK with it. As an advertiser, we're not concerned whether our ads win.
"After all, our customers don't come into the store because we've got a gold Lion or the Gong - if they even know what those are.
"In general, most agencies make too much money off their clients. Especially in this day and age, advertisers need to be more prudent with their marketing dollars. They're not just guardians of their company's image and brand, but also guardians of their company's money."
Lowe chief executive Addison James said it was "an amicable parting of ways" and described the decision to drop Lowe as being due to Ikea wanting to do things in-house, focusing on print using a formula developed by Lowe.
Ikea is one of Singapore's best-known furniture retailers. A common sight on weekends is the long queue of cars waiting to park in the building.
Inside, house-proud Singaporeans jostle for fashionable knockdown Scandinavian furniture that they will do their best to assemble at home.
Ikea has been so successful in drawing crowds to the area that the mall opposite, Anchorpoint, has recently added more furniture retailers in the hope of attracting furniture buyers who come from all over the island.
