French luxury goods giant Louis Vuitton MoÃÂ«t Hennessey is understood to have centralised its European media planning and buying account, estimated to be worth more than £60m, into the Carat network without a pitch.
The UK, French and German accounts handled by Initiative Media are all thought to have been transferred to Carat. It is not clear whether businesses in other countries handled by Media Planning, which include Italy, has also passed to Carat.
LVMH last reviewed the media account two years ago (MW August 13 1998) with a view to centralising the business.
At that time, the company is understood to have asked roster agencies CIA Medianetwork, Initiative, Media Planning (then Mediapolis) and Carat to pitch for the business. It decided not to centralise the European account – which is mostly press work – but axed CIA from the UK business and handed it to Initiative.
The LVMH portfolio stretches from fashion houses Givenchy and Christian Lacroix, and champagne labels MoÃÂ«t & Chandon and Dom Perignon, to Louis Vuitton luxury luggage and leather goods.
Over the past year, the Paris-based company has been concentrating on controlling its distribution. It has set up its own website and owns more than 800 retail outlets, including Vuitton stores, DFS Group duty-free shops and designer boutiques.