MELBOURNE: Shortly after announcing the establishment of a new prestige business unit, MediaCom has won the LVMH luxury business account following a competitive pitch.
Mediacom CEO Anne Parsons said the account, which includes brands such as Louis Vuitton, Christian Dior, Guerlain, Moet, Hennessy and Tag Watches, “would have to be the pinnacle of prestige business”.
Neilsen Media Research figures show LVMH increased its main media spend from $4.7 million in the 12 months to Septtember 2006 to $6.5 million in the same 12 months to September 2007. These figures discount online ad spend.
“[LVMH] has enjoyed great success in recent years and their media investment has increased accordingly- they are around an $8 million advertiser," Parsons said. "They retain some of the most premium positions in our magazines and are actively pursuing other prestige consumer media opportunities.
“This is a particularly wonderful win for MediaCom as a number of our team were passionately involved with LVMH some years back when we operated as the Zenith brand. Unfortunately, with our change of ownership and brand name in 2005, the one client we lost was LVMH who retained the Zenith brand as their media agency.
"To be reappointed is to have the unique opportunity of re-engaging with their perfect portfolio of prestige brands and to work with the client to see how we can support their continuing success.”
MediaCom will commence work immediately in preparation for 2008 activity and is officially appointed from January 2008.
The newly established prestige business unit is being led by Dymphna James, formerly of Time Inc magazines and the Border Mail. James officially commences her dual role of group business director heading up the prestige business unit, and investment manager for print, on Monday (20 November).
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