It is the first time the multinational conglomerate has attempted to consolidate its media business.
The decision to instigate a global pitch process comes amid a series of local market reviews, including one taking place in its domestic market, France, and another in the US, where incumbent OMD, a unit of Omnicom, and contender MPG, a division of Havas, were vying for the account.
The 105-year-old cosmetics giant is home to brands including Calvin Klein, Cerruti and Marc Jacobs in its Coty Prestige portfolio, and Adidas, David and Victoria Beckham, and Kate Moss in its Coty Beauty range.
The review will include the media business across both portfolios operating in 90 countries and is being led by Coty's senior vice-president, corporate media, Sigrun Graeff.
According to local market figures tracked by The Nielsen Company, ad spend has dropped about 20% across the group since the global economic downturn began in 2008.
Despite the tough climate, Coty's chief executive Bernd Beetz is hoping to achieve annual sales of $5 billion in 2010, up from $4 billion in 2008.
One agency leader called the move "symbolic of the current climate", but warned the constant drilling down of media value is not a sustainable model for the industry.
Coty declined to comment.
The decision to instigate a global pitch process comes amid a series of local market reviews, including one taking place in its domestic market, France, and another in the US, where incumbent OMD, a unit of Omnicom, and contender MPG, a division of Havas, were vying for the account.
The 105-year-old cosmetics giant is home to brands including Calvin Klein, Cerruti and Marc Jacobs in its Coty Prestige portfolio, and Adidas, David and Victoria Beckham, and Kate Moss in its Coty Beauty range.
The review will include the media business across both portfolios operating in 90 countries and is being led by Coty's senior vice-president, corporate media, Sigrun Graeff.
According to local market figures tracked by The Nielsen Company, ad spend has dropped about 20% across the group since the global economic downturn began in 2008.
Despite the tough climate, Coty's chief executive Bernd Beetz is hoping to achieve annual sales of $5 billion in 2010, up from $4 billion in 2008.
One agency leader called the move "symbolic of the current climate", but warned the constant drilling down of media value is not a sustainable model for the industry.
Coty declined to comment.
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