Publicis snaps up LVMH's media budget for France, UK
The decision has just been made. LVMH has finally assigned its media budget for France and the UK to French advertising agency Publicis. A major budget, estimated at €260 million altogether (€100 million for the UK and €160 million for France), according to UK magazine Campaign, which has reported the news.
In the last four months, the tender for the budget has pitted against each other GroupM, the French subsidiary of British advertising giant WPP, which previously handled the investment, and French leviathan Publicis Media, which has cornered this impressive budget starting from July 2022.
The two markets in question were not included in the previous call for tender back in summer 2019, which related to 15 European countries, Italy excepted. In the latter country, LVMH’s advertising budget has been handled for over 10 years by Carat Luxury of the Dentsu Aegis Network group, and is said to be worth €35-40 million. It will continue to be managed by Dentsu.
Publicis Media cornered LVMH’s pan-European advertising budget in 2019, and has now grabbed another sizeable slice of the cake, bolstering its industry leadership. LVMH owns 75 labels, among them Dior, Louis Vuitton, Moët Hennessy and Tiffany & Co., and the undertaking is huge. The budget covers campaign planning and advertising space acquisition, and relates to the majority of LVMH labels.
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