As reported exclusively by exchange4media on July 2, L’Oreal India was reviewing its media mandate. L'Oreal India reviews media business
The multi-agency pitch saw participation from Madison, ZenithOptimedia and Lodestar UM, along with incumbent agency Maxus.
The pitch has resulted in Maxus retaining the business. The news was confirmed by L’Oreal India and Maxus.
Ajit Varghese, Maxus MD, South Asia said, “Retaining L'Oreal is an extremely satisfying feeling and a huge moment of pride for Maxus. This reposing of faith by L’Oreal’s management after an extremely professional and rigorous review process makes us confident that we are the right partners to manage the brand’s growth needs and adapt to the ever changing media environment. Also, apart from business, we truly value this relationship and will go the extra mile to work closely with the L'Oreal marketing team to achieve its goals.”
The account size is estimated to be around Rs 300 crore.
Maxus had earlier been awarded the business in a multi-agency pitch in 2010 that saw participation from Madison and ZenithOptimedia. The incumbent agency on record then was Lodestar UM.
L'Oreal is amongst the top clients of Maxus, along with Hero, Vodafone, Nokia, Titan, Perfetti and Nestle (Digital).