The Swiss luxury goods giant Richemont is down to four agencies in a review to consolidate its $20 million media buying and planning business in Asia/Pacific. The remaining participants include three incumbents, Interpublic Group of Cos.' Initiative Media, which handles Montblanc; Carat, which buys media for Alfred Dunhill; and Motivator, a regional media alliance in Asia/Pacific formed by Euro RSCG and MindShare, which works with Cartier. The "wild card" in the pitch is Omnicom Group's Optimum Media Direction, which doesn't currently work with Richemont brands.
Other luxury brands marketed in Asia/Pacific by Richemont include Piaget (which currently is handled by WPP Group's Media Edge), Baume & Mercier, Lancel, Officine Panerai, Shanghai Tang, Vacheron Constantin, Jaeger-LeCoultre and A. Lange & Sohne.
The world's second largest luxury goods conglomerate after LVMH Moet Hennessy Louis Vuitton, Richemont's decision to appoint one media agency follows a similar move by LVMH, which in April handed its regional media business for 18 major brands across 10 markets to Tempus Group's CIA Asia/Pacific.