Jewelry retailer Tiffany’s has launched a search for media agency to handle global media planning and buying chores. The effort follows the company’s search earlier this year for a creative shop, and the winner in that contest was WPP’s Ogilvy & Mather.
Ark Advisors, which managed the creative agency search, is also handling the media agency review.
The client’s global ad spend is approximately $100 million. The firm has stepped up its marketing support in recent years. It spent $242 million on advertising, media and marketing in 2012 -- up from $234 million in 2011 and $197 million in 2010, according to financial filings. Collectively, this represented 6.4% of worldwide net sales.
The media review is at an early stage. An RFI spelling out the details is due around the end of the month. Final presentations are currently set for October. Agencies participating in the media review will pitch across seven regions worldwide.
Internally, Caroline Naggiar, senior vice president and CMO, will lead the team overseeing the review. She has been head of advertising and marketing at the company since 1998 and added the CMO title in 2007.