French cosmetics giant L'Oreal is understood to be gearing up for a media review, AdNews can reveal. The company has been in exploratory talks with several media agency groups about media planning and buying, a practice that usually precedes a pitch.
The business, which sits with Carat, has an annual media spend of about $26.2 million, according to Nielsen figures, although this could rise to above $30 million with digital media spend not covered by Nielsen.
Carat won the business in late 2013 in a pitch that went down to PHD and the then incumbent UM. Many businesses tend to review their media agency relationships after three years.
L'Oreal is one of the largest cosmetic companies in the world with brands including Garnier, Diesel, YvesSaintLaurent, Lancome and Giorgio Armani.
Cummins&Partners is the Australian creative and media agency for L'Oreal group brand Kiehl's after winning a competitive pitch in 2015. Kiehl's creative and media is managed separately to the rest of the group.
All agencies contacted by AdNews declined to comment and L'Oreal has not responded to a request for comment.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at email@example.com