French cosmetics giant L’Oréal has awarded Omnicom Media Group its U.S. media account following a formal review, the client has confirmed. GroupM’s Wavemaker was the incumbent. The switch takes effect next April.
The company spends $960 million on measured media in the U.S. annually, according to agency research firm COMvergence.
L’Oréal issued a statement confirming the agency switch:
“After recently completingastrategic assessment ofthemedia agencylandscape, L’Oréal USA has selectedOmnicom Groupasournewagency of recordfor all media buying in the United States starting April 2023. Weare grateful to GroupM for their partnership, dedication and exceptional service to our businessover the last seven yearsand we look forward to building a strongpartnership with Omnicom Group.”
Wavemaker still handles most of L’Oreal’s media business outside the U.S. It was awarded global media duties in 2021 and has handled U.S. media chores since 2016.
Wavemaker issued this statement:
"Wavemaker has been a strategic partner to L’Oréal US since 2016, and together we’ve created incredible, award-winning work. Seven years is a long time in today’s media and marketing world, and although we’re never happy to see a client leave us, we are proud to continue our global relationship with L’Oréal across 20+ other markets as we support their ambitious growth plans. We wish the L’Oréal USA team the very best of luck."