The Ikea creative account, believed to be worth approximately $10 million, is up for pitch for the first time since 2010, AdNews can reveal.
In a statement provided to AdNews, a spokesperson from Ikea has confirmed the account is under review.
"IKEA is currently undertaking a review of creative services. The review process is under way."
The Monkeys has been the creative agency of record for the Swedish furniture store since 2010, when it won the account in a competitive pitch up against Clemenger BBDO.
The agency took over the account valued at $9.7 million from Host at the time, who did not re-pitch.
AdNews understands it is unlikely The Monkeys will re-pitch for the account this time.
72andSunny Amsterdam recently won a pitch to lead the design strategy for Ikea, creating its new "dynamic logo system" called The Fönster.
72andSunny Sydney has been contacted for comment.
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