Printer Friendly

COLGATE-PALMOLIVE REALIGNS GLOBAL ADVERTISING AGENCY ASSIGNMENTS

 NEW YORK, Feb. 25 /PRNewswire/ -- Colgate-Palmolive (NYSE: CL) announced today that it is realigning its worldwide advertising agency assignments, to improve global advertising effectiveness and generate savings to be used for additional media spending. This new move gives worldwide responsibility for an entire product category to the same agency and changes agency compensation from a fixed fee to a variable pay-for-performance formula.
 Young & Rubicam will now assume global responsibility for all Oral Care and Personal Care advertising. The brands include Colgate Toothpaste, Colgate Toothbrushes, Palmolive Soap & Shampoo, Irish Spring, Softsoap, Protex and Neutro Balance. The Mennen line of deodorants/anti-perspirants, baby products and men's toiletries currently being handled by McCann Erickson and Lowe & Partners, will be assigned on a global basis to Foote, Cone & Belding. In addition, FCB will be responsible for worldwide advertising for all Household Surface Care and Fabric Care brands. Equities in these categories include Ajax Cleansers, Palmolive Dishwashing Products, Murphy's Oil Soap and the Company's various Detergent, Bleach & Fabric Softener brands. Murphy's Oil Soap was previously handled by Genova, Hartwick and Juliano. FCB's Siboney unit will continue to have responsibility for all Colgate U.S. Hispanic advertising.
 In announcing these changes, Colgate's CEO, Reuben Mark, stated, "Our very wide global presence, and the strength of our business in developing countries demands that our best advertising ideas spread as rapidly as possible around the world. This is best accomplished with the same Agency working on a brand everywhere. The pay-for-performance element being introduced will reward the Agency that delivers truly great advertising ideas. Together with the strong increases in media spending we have budgeted for 1994, both in the USA and abroad, these changes will add profitable growth momentum to our consumer businesses worldwide." He went on to say, "This was an especially difficult choice because we had to balance the benefits of this move with the loss of the services of McCann Erickson, Lowe and Genova, Hartwick & Juliano who have done outstanding work for Colgate in the U.S. and around the world. However, in the interest of global focus and efficiency, we must concentrate our brands in two agencies which will service us everywhere we are in the world."
 Young & Rubicam Chairman Alex Kroll said, "We are very proud to be entrusted with the two great trademarks, Colgate and Palmolive worldwide, plus the additional assignments in the Oral Care and Personal Care categories. In our 10 years with Colgate, we've always been proud of this partnership with a company with a true global orientation to its brands, that's constantly pushing for creative excellence. This new global alignment will take us to a new level of performance. And what a terrific way to celebrate an anniversary."
 Bruce Mason, Chairman & CEO of FCB Communications, added, "We are delighted that Colgate is again expressing their confidence in our worldwide creative partnership. This consolidation will help us generate even more effective advertising for Colgate's Global Brands, and the change to pay-for-performance will certainly motivate our people to put forth even more effort to achieve positive results."
 Colgate's measured media expenditures in 1993 on a global basis exceeded $500 million. The Company did not disclose the total billings assigned to each Agency. There will be an orderly transition over the next few months for those brands that change from one agency to another.
 Colgate is a $7.0 billion global consumer products company, with core businesses in Oral Care, Body Care, Household Surface Care and Fabric Care. The Company markets its products in 170 countries under such internationally recognized brand names as Colgate, Palmolive, Mennen, Ajax and Fab.
 -0- 2/25/94
 /CONTACT: Bob Murray of Colgate-Palmolive, 212-310-2199/
 (CL)


CO: Colgate-Palmolive Company ST: New York IN: HOU ADV SU:

JG-SH -- NY020 -- 5654 02/25/94 10:04 EST
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 25, 1994
Words:628
Previous Article:XEROX TO REDEEM PART OF 20-YEAR PREFERRED STOCK
Next Article:CWMBS, INC. MORTGAGE 1994-D PASS-THROUGH SENIOR CERTIFICATES RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
Topics:

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters