HM Communications has confirmed it has managed to hold off the likes of ZenithOptimedia and Havas Media to retain its $15 million Coty media account, an account which could grow in value thanks to possible acquisitions.
Overnight, Coty announced that ZenithOptimedia had been appointed its agency of record worldwide, but AdNews has learned that this does not include the Australian market, with HM Communications retaining its account.
It is believed that globally, Coty was asking for payment terms up to 150 days, leaving main global incumbent OMD unwilling to defend the account.
It is believed that the Coty global team was impressed by the 100% dedicated team set up at HM Communications, with the account thought to be worth about a fifth of the agency's worth, making it a vital account for the agency.
Its importance could grow further with speculation mounting that Coty is set to acquire Max Factor and Cover Girl, along with Procter & Gamble's hair care lines. If such a deal were to come off, HM Communications could see those accounts also come into the stable.
Brands under Coty include Rimmel, Calvin Klein and Adidas fragrances.
“I am thrilled to retain COTY’s business and it is great to see that a hard working strategic team is still a key consideration in global pitches," HM Communications founder Virginia Hyland confirmed the news, as revealed by AdNews.
"The results that we have achieved through inspiring potential customers to purchase COTY brands, have been acknowledged globally. We highly value our partnership with COTY and look forward to a successful future to push their brands to greater heights.”
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