MFI credit concerns prompt move to McCann

LONDON - MFI Retail has pulled its advertising and media out of M&C Saatchi and Zenith-Optimedia after difficulties securing credit insurance on its £24 million media spend.

MFI...pulled media out of M&C Saatchi and ZenithOptimedia
MFI...pulled media out of M&C Saatchi and ZenithOptimedia
The furniture retailer is moving creative and media into the full-service agency McCann Erickson Birmingham. Sources suggest the switch was prompted by MFI’s inability to secure credit insurance on its media spend.

It is thought ZenithOptimedia was unwilling to pre-pay for MFI’s media given the lack of insurance, forcing MFI to conduct a search for another media agency.

MFI, which was acquired for £1 in 2006 by the private equity company MEP, is thought to have wanted to consolidate media and creative into one group and approached M&C’s sister agency Walker Media about taking on the media business.

However, client conflict and concern over the credit insurance issue is said to have made it difficult to conclude a deal.

The retailer instead turned to McCann Erickson, which was willing to take on the media business alongside the creative. Sources suggest that MFI intends to spend heavily on a campaign in August.

M&C Saatchi won the advertising business from Publicis in December 2006 and created its most recent “family argument” campaign, while ZenithOptimedia successfully repitched for the media account last year.

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1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).