UPDATED: Mindshare snares L'Oreal China
Shanghai - Mindshare has won the biggest pitch ever in China history against Optimedia, bagging L'Oreal's nationwide media account which is worth US$2.5 billion.
Melvyn Goh, president Mindshare China, confirmed the appointment, adding the agency will apply its-best in-practice standards to the account.
“We are enormously pleased by this appointment, not only will we continue our partnership with such a great company, but we will also be able to cascade our best practices to the rest of the L’Oreal portfolio,” he said.
The agency will oversee media duties for all of L'Oreal's brands across China, including Maybelline New York, Garnier, Vichy, Shu Uemura, Biotherm and Giorgio Armani.
It was reported in July that L'Oreal called a review between Mindshare and Optimedia to consolidate its media account to one single agency.
Ashutosh Srivastava, CEO Mindshare Asia Pacific added, Mindshare has long held the top position in China, but the team fights for clients with the passion and energy of an underdog.
"This appointment is a reflection of the hard work, commitment and dedication of the entire Mindshare China team. I am delighted that we will not only continue, but also greatly extend our relationship with L’Oreal.
"I am confident that L’Oreal has chosen the best agency and team for meeting future challenges.”
In 2009, L'Oreal reported a full-year sales of over RMB 8 billion in China, making it the fifth largest market for the cosmetic giant. According to L'Oreal, the group accounted for 11.7% of China's cosmetics market share in terms of sales volume in 2009 and its customer portfolio is expected to increase by around 10 million in China in 2010.
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