One hundred million dollars in annual billings are wending their way from Lowe Lintas and Partners, New York, to the Martin Agency in Richmond, Virginia, with the shipment of United Parcel Service’s creative advertising account.
Interpublic, holding company for both winnining and losing agencies, collects any which way.
The changeover coincides with a plunge in UPS’ traffic volumes, a 32% slump in Q1 profits and a announcement Friday of an aggressive cost-cutting program.
A substantial crumb of comfort, however, for Lowe Lintas: it retains UPS’ media planning/buying business.
News source: Advertising Age - Daily Deadline