Remington Products, Inc. ceo Victor Kiam, famous for boasting that he liked the Remington shaver so much that he bought the company, has been persuaded to hire an ad agency by the Florida-based executive who invested additional equity into Remington last September.
The long-running campaign featuring a bathrobe-clad Mr. Kiam, and the promise, "Shaves as close as a blade, or your money back," was created in-house. At one point, Grey Advertising had placed media for Remington, but a Grey spokesperson said the agency had not performed that service for some time.
Remington national advertising manager Glenn Bell could not be reached for comment late last week, but several sources said it was likely that the Bridgeport, Conn.-based company had concluded its review. The full list of contending agencies could not be determined, but Remington was said to have talked to approximately seven agencies.
The review came about when investor Isaac Perlmutter invested equity in Remington as part of a $100-million recapitalization and expressed interest in hiring an ad agency, according to a source close to the review. At the time of that announcement Kiam said that the financing package would allow the company to double advertising expenditures and to supplement traditional advertising with infomercials.
According to LNA, the company spent $11.3-million last year. One source expected that figure to reach $15 million this year.
Copyright Adweek L.P. (1993)