Burberry has launched a global media planning and buying review after pausing a previous review for two years during the pandemic.
The luxury fashion brand has worked with agency group Dentsu for nine years.
According to Campaign Live, four agencies are in the running to take the lead creative spot after Burberry reportedly held a meeting with Dentsu, OMD, Wavemaker and a Stagwell Group solution led by Assembly.
The review, in collaboration with ID Comms, was paused in 2020 at the beginning of the Covid 19 pandemic after Burberry’s agencies had completed RFIs (requests for information).
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The news will affect Burberry’s most important consumer markets such as the US, China, Japan and the UK.
The brand is said to spend around £85 million on advertising internationally, and recently announced revenue growth of 21% to £2.8 billion in the 2021/22 fiscal year.
While it is reported that Stagwell Group is positioning itself as a challenger in the review, creative agency Megaforce recently picked up a Gold Lion at Cannes Lions this year for its ‘Open Spaces’ Burberry campaign.
All agencies involved, including ID Comms and Burberry, declined to comment on the review, Campaign Live reports.
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