The Advertising Apprentice

July 22, 2009

Major Shakeup at Cossette Imminent?

Filed under: Advertising — adamlauzon @ 1:16 AM
Tags: , , , ,
This afternoon I came across an article on the Globe & Mail’s website that anyone with any interest at all in the advertising industry should take note of: The battle for Cossette.

The article does a good job at explaining the specifics of the proposed takeover. The aspect I’m sure many of Cossette’s current high-value clients such as Coca-Cola Ltd., McDonald’s Restaurants of Canada, and Procter & Gamble are concerned with is how will this affect business? It seems like Cossette has a revolving door with their executives and therefore lack solid foundation at the top and in the running of the agency. This is turn could have a negative effect on the quality of the work they produce.

Now I’m not an expert on the business of the advertising industry nor do I have a Business degree; but, you don’t need to have a MBA to know that should this hostile takeover go through, this would have a huge impact on the advertising industry. 

This also isn’t the first time in the recent months that Cossette has encountered major adversity. This winter they lost a very valuable BCE account that represented approximately 10% of their revenue. (There was an article in the Globe & Mail from January 3rd that did an excellent job at explaining the situation that is only available if you have a GlobePlus account. So instead if you want additional information on the BCE loss you can visit this page.)
You may recognize these fun-loving beavers as Frank and Gordon. They are a large part of probably the most memorable campaign Cossette produced for BCE.

Needless to say the hostile takeover of one of Canada’s largest advertising agencies is something to closely monitor, as should Francois Duffar and his group be successful in their bid, it will reverberate throughout the Canadian advertising industry.

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