On the surface, the business that Sears Holdings is dangling before advertising holding companies is juicy: the chance to handle all marketing services across its Sears and Kmart brands, which collectively spend $560 million in media each year.
Sears Holdings has contacted ad holding companies about handling all marketing communications for Sears and Kmart, sources said. Collectively, those brands spent $560 million in media last year—the majority of which ($350 million) went toward Sears, according to Kantar Media. Kmart's spending totaled $210 million.
Interpublic Group has to like its odds in the Kmart creative review. Two of the three finalists—McCann Erickson in New York and incumbent Draftfcb in Chicago—are units of Interpublic, according to sources. The third is Dentsu’s mcgarrybowen in Chicago.
Kmart is moving fast in its recently-launched review of creative agency partners, with final pitches expected to be held at the end of March, sources said. Spec creative is part of the search as the Sears Holdings unit conducts a procurement-driven process.