ATLANTA -- Crispin Porter + Bogusky has won Ikea's advertising business, sources confirmed.
The Miami agency defeated New York's Berlin Cameron/Red Cell and Goodby Silverstein & Partners in San Francisco to win the account, which had been estimated at $30-40 million, but which an Ikea spokesperson estimated was worth $40-50 million. Incumbent Carmichael Lynch in Minneapolis did not participate in the competition.
The Swedish-owned furniture distributor operates 164 stores in 31 countries. It is based in Plymouth Meeting, Pa.
Pile and Co. in Boston served as consultant on the review.