Alison Weissbrot
Jul 27, 2021

Gucci owner Kering Group kicks off global media review

The French luxury giant, which also owns brands including Yves Saint Laurent and Balenciaga, is currently with Zenith.

Getty Images
Getty Images

French luxury conglomerate Kering Group has kicked off a global agency review, Campaign US has learned.

The review, which is in its early stages, spans media planning and buying across all of Kering Group’s brands and markets, with a focus on innovation and digital. The account is currently with Publicis media shop Zenith, which is expected to defend.

According to COMvergence, Kering spent $139.5 million on media globally in 2020. But sources peg spending to be much higher, closer to €480 million ($566 million) globally.

The review is being led by R3, which was unavailable for comment.

Kering owns luxury brands including Gucci, Yves Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ulysse Nardin, Girard-Perregaux and Kering Eyewear.

Luxury goods took a hit during the pandemic, but have already begun to rebound. Sales of luxury goods shrank by roughly one fifth during the first half of 2020, but are now projecting a full return to 2019 levels in 2021.

Kering Group’s Q1 2021 revenues grew 21.4% on a reported basis and 25.8% on a comparable basis to €3.89 billion and ($4.59 billion), led by Asia Pacific and North America.

Gucci is the crown jewel in Kering’s portfolio, and saw revenues rise 26% year over year in Q1 on a comparable basis and 21.6% on a reported basis to €2.2 billion ($2.6 billion), also led by Asia Pacific and North America.

If Zenith retains the business, it will add to recent wins including Hulu in the U.S. and  Nestlé in the UK and Ireland.

Kering Group did not reply to a request for comment. Zenith declined to comment.

Source:
Campaign US

Related Articles

Just Published

11 hours ago

Why Thailand is a shining example of LGBTQIA+ brand ...

In a year marked by global uncertainty for LGBTQIA+ rights, Thailand’s vibrant Pride celebrations and evolving brand partnerships offer a blueprint for authentic inclusion in Asia.

11 hours ago

Under Armour appoints OMD as media AOR in APAC

The $40 million APAC media win consolidates the agency's global partnership with Under Armour, adding to its existing remits in North America and the EMEA.

11 hours ago

2025 Cannes Contenders: David Guerrero handpicks ...

Kicking off this year’s Cannes Contenders series is a selection from David Guerrero, creative chairman of BBDO Guerrero.

13 hours ago

Meta aims to fully automate ad creation with AI by 2026

The parent company of Facebook and Instagram plans to let advertisers generate complete, AI-crafted ads with just a product image and budget, automating the entire campaign process across its platforms.