Carat has snatched another piece of business from Initiative by
picking up the pounds 60 million pan-European Louis Vuitton Moet
Hennessey (LVMH) account.
This is the first time luxury goods manufacturer LVMH has centralised
its European planning and buying into one agency.
William Corke, Carat’s new-business director, is in charge of the
He said a dedicated planning and buying team has yet to be appointed,
and that an announcement was imminent.
The agency was awarded the business without pitching.
Initiative Media had previously handled the majority of the UK, German
and French business.
Media Planning and MediaCom looked after brands in other
LVMH is traditionally a big spender on glossy women’s consumer magazines
and produces champagne brands Moet & Chandon and Cuvee Dom Perignon.
In September last year, LVMH purchased watchmaker Tag Heuer for pounds
485 million. MediaCom previously handled this account.