Luxury goods giant LVMH has awarded Publicis Groupe its Asia-Pacific region media assignment where it spends an estimated $780 million annually on ad space.  

That’s the single largest piece of the firm’s $2 billion media spending budget, according to agency research firm COMvergence.  

WPP had previously handled the business for the past nine years.  

Mark Patterson, Global President, Markets and Business Operations, WPP Media issued a statement following the switch.  

“It has been a privilege to serve as LVMH’s growth partner across Asia Pacific over the past nine years - a period of remarkable transformation during which LVMH’s revenue in the region more than doubled.”  

Patterson added that WPP was “grateful to LVMH for the trust they put in us and wish the Group and its maisons continued success. We’re proud of the work our teams delivered for LVMH throughout our partnership and will move forward from a position of strength - as a leader in the luxury sector and Asia Pacific - with exceptional talent, industry-leading technology, and a proven ability to drive growth.”  

Publicis declined to comment on the win and LVMH did not return a query seeking comment on the decision to shift the business.   

LVMH brands include Celine, Dior, Fendi, Loewe, Givenchy, Kenzo, Bulgari, and more.  Last year the company reported revenues of 80.8 billion euros or approximately $93.8 billion.