MediaCom has won Tesco’s estimated £90m ($140m) media planning and buying, ending the brand’s long-standing relationship with IPG Mediabrands’ Initiative, according to reports.
The GroupM agency is believed to have defeated Initiative, M/SIX and ZenithOptimedia in the review, writes Campaign.
It brings to an end a 20-year partnership between Initiative and the troubled UK supermarket chain, which last week revealed a record pre-tax loss of £6.4bn ($9.9bn) following what Tesco chief executive Dave Lewis described as a “very difficult year”.
Former Unilever executive Lewis joined as CEO in September, and shortly afterwards last month Tesco appointed Robin Terrell as group customer officer – its top marketing role – only six months after handling the role to Jill Easterbrook.
Last week, Tesco announced the hire of former Barclays marketer Michelle McEttrick to the post of brand director.
In January, Tesco appointed BBH to handle its creative account, ending its two-year relationship with Wieden + Kennedy, in the hope of leading a new creative direction to recover the brand’s tarnished reputation.