Macy’s has found a new agency for media planning and buying in the U.S.
The retailer, which last year spent about $770 million in media, has hired Carat after a review, a Macy's representative has confirmed.
Carat beat three other agencies to win the business: Initiative, Starcom and the incumbent, MEC, according to sources. MEC had handled the account since 2007.
The assignment includes TV and digital media, but not print media buying, which Macy's handles in-house. More than a third of Macy's total media spend last year—or about $270 million—went toward TV buying, according to Nielsen.
Final pitches took place three weeks ago at the New York headquarters of Macy’s, according to sources. Joanne Davis Consulting in New York managed the process.
The review did not include the company’s creative business. JWT, New York, is the retailer’s lead creative shop.
Last month, JWT launched a new campaign featuring the celebrities behind the brands that Macy’s sells, including Sean Combs, Martha Stewart and Justin Bieber. The tagline: “What’s in store?”
Carat and Macy’s could not immediately be reached, but sources said that Macy’s had notified the contenders of its decision.