A generous tipster, or so we think, sent us a verbatim note that seems to outline a $500 million global media review for Luxottica, the Italian monolith that is home to eyewear lines including Ray-Ban, Oakley and Patrick Bateman’s personal fave, Oliver Peoples. We’ve contacted the brand to get some clarification on the matter, but see for yourself below and after the jump. Strap on your guns, kids.
Global Media Review Considerations
Scope of the review and desirable outcome
ï Re-asses and challenge our current media agencies
ï Consolidate our media services, possibly into one agency
ï Reconsider the media agency services, notably in the light of an exponential growth in media-generated content and analytics
ï Aim for best partner for Luxotticaís brands in terms of:
1. Strategy and new media services
2. Engaged and pro-active client service
3. Global coordination and local implementation
4. Excellent capabilities across all digital platforms
5. Cost-effective media buying (or the right media quality for our brands at the best price)
ï ìbest partnerî for Luxottica is not necessarily the biggest agency in the market. We are not a big media spender, but we have some very desirable brands for a media agency. Our Brands, first of all Ray-Ban, are global, recognized, cool, ready to experiment and lead in communication. This is something extremely appealing to agencies. We need to find a partner who is able to provide top strategic and creative talent with a passion for our brands and who can deploy a service level greater than our media spending
ï The ideal outcome would be one single agency. However, we may consider different scenario (while limiting fragmentation) depending on the ability of the offers to meet our business requirements:
o The strategic capabilities and the strength of the international network will be key factors in our decision
o We must be confident that we can receive an equally excellent services in markets where we have higher volume spends and in smaller markets
Outlined process
ï Stakeholder alignment
ï global brief: it should incorporate the request for some key strategies. I am thinking about global strategies for Ray-Ban, Sunglass Hut and LensCrafters
ï A central presentation for central capabilities
ï Customized regional presentations: Milan (wholesale), North America Retail, Australia and South America
ï Choice of partner
ï We should expect 3 to5 months process
ï Start work with the new agency at the end of Q3 (strategies) and 2013 for local media buying
External support
ï A well-planned and well-executed review process is critical for success
ï the global dimension increases the complexity and challenges our capabilities
ï We selected Ebiquity as our media auditor
Process governance
ï Global Project Leader : Vincenzo Brugaletta
ï Global Steering Committee: Fabio díAngelantonio, Erika Ferszt (Corporate and Wholesale), Vincenzo Brugaletta (NA Retail), Melinda Spencer (Aus), Nicola Lionetti (Marketing Procurement)