- The Lowe Group is moving into youth marketing with its acquisition of a minority stake in the New York-based Steven Rifkind Company.
The Steven Rifkind Company, which launched in 1989, applies the formula used to market music to sell other youth-oriented products to young urban consumers.
The company was responsible for developing the pioneering Street Team. This is a collection of DJs who are responsible for local marketing that targets 12 to 34-year-olds.
Frank Lowe, chairman of the Lowe Group, said: "We are delighted to have found partners with such a wealth of experience in this highly-specialised field. We believe that SRC's expertise in targeting this burgeoning market will be of tremendous interest to our clients."
SRC's clients include Polygram Records, Elecktra Records, Sony Music, Atlantic Records, Nike, Hugo Boss Fragrance, Levis and New Line Cinema. The precise terms of the agreement were not made public.