- Lowe & Partners Worldwide has announced it is to partner a second advertising agency in Switzerland, the well-respected GGK Basel.
The agreement sees Lowe take a substantial shareholding in the agency, which will change its name to Lowe GGK.
Lowe's existing partner, Bosch & Butz, which joined the Group in 1995, will remain within The Lowe Group as a standalone operation, using the network's resources as and when required.
Lowe GGK will continue to operate under its existing management team, consisting of Martin Denecke as chief executive, Mark Stahel as creative director, Kurt Schmid as client managing director and Mati Meier, the managing director.
Denecke and his team, who took over the ownership and management of the agency in 1994, have been credited with reviving the agency's fortunes, and re-establishing its reputation for high level creativity.
The Swiss advertising industry publicly applauded this achievement by voting GGK "Agency of the Year", and Denecke "Advertising Man of the Year" in 1995/96.
Headquartered in Zurich, GGK has a staff of 58 and billings in excess of CHF67 million (US$47 million). It is ranked ninth in Switzerland and boasts Canon, CASH (publishing group), Elmex (toothpaste), Hermestas (sweeteners), Lange (watches), Migros (supermarkets) and Pfister Furniture among its major clients.
According to Jerry Judge, chief executive of Lowe & Partners Europe: "We're delighted that GGK has joined us, not only because it will add strength to our operations in Switzerland, but also because we can reunite the agency with its previous partners, Lowe GGK in Austria and Central/Eastern Europe."
Denecke said, "For us, Lowe's serious commitment to the creative product combined with its network of quality partners made it an ideal choice. We are extremely happy to be part of it."