Office Depot has awarded its global creative and media business to Y&R and Mediacom after a competitive review, according to multiple sources with direct knowledge of the business.
One source said the win was part of a larger pitch by WPP. In the past, the holding group has formed agencies dedicated to specific clients like Bose, Target, Ford and Walgreen’s. It is unclear at this time whether additional WPP agencies will share responsibility for the account.
Office Depot, which also owns OfficeMax, has struggled in recent years, recently pivoting away from its core retail business to focus on cloud-driven supply chain, HR, and financial management services.
It has also gone through a series of changes on the executive front. Over the past year, the company parted ways with several C-suite executives while hiring CEO Gerry P. Smith (formerly of Lenovo), chief marketing and customer officer Jerri DeVard and chief financial officer Joseph T. Lower; its board also promoted Kevin Moffitt to the chief retail officer role.
McCann and UM were Office Depot’s agencies of record until last February, when the company moved its account to Zimmerman without a review. That Omnicom agency, which previously held the account from 2011 to 2014, served as AOR for only 10 months before opting to sit out this latest review. CEO Michael Goldberg declined to comment on the decision.
An Office Depot spokesperson had no comment on the news. MediaCom and WPP corporate deferred to the client while representatives for Y&R have not yet responded to requests for comment.
According to the latest numbers from Kantar Media, Office Depot spent more than $62 million on paid media in 2016 and $47 million during the first nine months of 2017.