Richemont, the second-largest luxury goods group in the world, has called a global review of its $150 million media account with the view to a consolidation into a single global network.
The majority of the account is split between three networks: Mediaedge:cia holds the 拢70 million account in Europe, Universal McCann is the incumbent in North and Latin America, while OMD holds the business in Asia.
However, the company still employs much smaller shops in markets including the Middle East and Japan.
The networks have not yet been briefed and it is unclear whether non-roster agencies will also be invited to pitch.
Richemont has been consolidating its media planning and buying in stages for the past five years.
Mediaedge:cia picked up the pan-European account, which was previously split between several agencies, each of which handled separate Richemont brands, in 2000. OMD won the newly consolidated Asia-Pacific business in 2001, while Universal McCann was appointed to the US account in 2003.
Advertising for Richemont brands, which include Alfred Dunhill, Cartier, Hackett, Lancel and Chloe, tends to focus on the upmarket press.
The body of its brands' advertising is created in-house. However, Dunhill took the step of appointing Vallance Carruthers Coleman Priest to its global advertising account at the beginning of this year.
A boost in luxury-goods buying at the end of 2004 saw Richemont report healthy sales last year - it posted a 9 per cent increase, exceeding $4 billion.
The Geneva-based Richemont is controlled by the South African Rupert family. No-one at the company was available for comment.
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