Publicis clinches $1.7 billion Mars ad account from WPP
HighlightsPublicis Groupe SA has secured a significant new client, acquiring a $1.7 billion advertising portfolio for M&Ms and Snickers owner Mars Incorporated from WPP Plc. The appointment of Publicis Groupe marks a major win in one of the largest advertising competitions of the year, with the firm set to handle media, production, and social media advertising for the consumer goods group. The loss of the Mars account adds to the challenges faced by WPP Plc, which is working to revitalize growth amid declining market share and economic uncertainty in advertising spending.
Publicis Groupe
SA has won a major new client, snagging the $1.7 billion ad portfolio for M&Ms and
Snickers
owner
Mars Inc.
from
WPP Plc
, people familiar with the matter said.
The French company will handle media, production and paid social media and influencer ads for the US-based consumer goods group after winning one of the largest competitions of the year, the people said.
Mars confirmed the appointment of Publicis and said that
Interpublic Group
of Cos.'s Weber Shandwick would oversee public relations.
WPP
declined to comment. AdWeek reported on the value of the contract earlier.
The loss of the Mars account is the latest blow for London-based WPP, which said on Monday that Chief Executive Officer Mark Read would leave at the end of the year. WPP, once the largest ad agency globally, has been working on ways to reignite growth and streamline operations to address softening sales and a gloomy outlook.
Publicis has managed to continue growing with other big client wins, such as
Coca-Cola
Co and Banco Santander SA, even as WPP's market share has slipped and economic uncertainty hit ad spending. The company pivoted early to focus on digital and data-led marketing tools and is spending on deals to add capabilities for
influencer marketing
and data.
Publicis shares gained 2.5% to 97.44 in Paris on Tuesday. The stock had declined 5.4% this year. WPP rose 1.8% to 553.20 pence in London and has declined 33% this year.
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