The World: New York - Carat retains Revlon media after Initiative

Revlon, the cosmetics giant, has changed its mind about moving its $150 million media planning and buying business from Carat to Initiative after failing to thrash out business terms.

The about-turn comes less than a month after the company announced plans to switch the business into the Interpublic-owned Initiative.

At that time, David Kennedy, Revlon's chief executive, said Initiative would be bringing "some very new and exciting ideas for us to consider".

Revlon denied the decision to stay put was because of possible conflicts with Victoria's Secret, another Initiative client, which last year launched a new cosmetics line.

Ray Warren, the president of Carat Americas, said: "We're delighted to have Revlon back in the family."