French beauty giant L’Oréal Groupe ANZ is seeking to appoint a lead agency for its influencer creative account, AdNews reveals.
A review of the account was launched last year and all agencies who manage any part of the influencer business in ANZ were invited to pitch.
Multiple agencies have managed influencer marketing for the brand's different divisions. In the past Social Soup has managed its luxe brands and Magnum & Co has worked on its consumer products division.
The aim of this pitch is to consolidate the account with one agency.
An industry insider told AdNews it's hard to say how much the account is worth because the group owns so many brands and the winner of the pitch won't have exclusivity for all the work on all the brands.
L'Oréal Groupe owns 36 international brands, including Maybelline, Lancôme, CeraVe and more, which are divided into four divisions: luxe, consumer products, dermatological beauty and professional products.
While Social Soup is no longer on the L'Oréal agency register. However, when approached for comment Sharyn Smith, the CEO, told AdNews the pitch is interesting because it shows the increasingly large role the creator economy is having on marketing budgets.
“This latest news of the L’Oreal pitch for influencer marketing is one of many pitches across the industry in recent times and shows the increasingly larger role the creator economy is having on marketing budgets," Smith said.
"We at Social Soup expect 2024 to be one of our biggest years yet and we look forward what’s in store for future influence.”
The pitch is run by the brand's local procurement.
Wavemaker has held the brands ANZ media account since October 2021.
In September, L’Oréal Groupe ANZ got a new CEO for the first time in nine years, with the brand's chief executive of Greece, Alex Davison, moving into the role.
In April, L’Oréal committed to buy Melbourne-founded Aesop, a luxury cosmetics, shampoo and bodycare brand for $3.7bn (AU).
L'Oréal is currently reviewing its UK media account held by EssenceMediacomX.
AdNews is seeking comment from L'Oréal.
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