The week between Christmas and New Year may be a good time to bury bad news but losing the $1.3bn JC Penney US department stores account is hardly the way Saatchi & Saatchi would have wished to enter 2012.
JCP moved its whopper account in Saatchi in 2006 from DDB, after the company’s senior executives heard Saatchi boss Kevin Roberts outline his ‘Lovemarks’ philosophy at a conference according to Ad Age.
But Lovemarks, persuading consumers to love you, is one thing, falling sales another and JCP, like most retailers, is inclined to show high falutin’ ideas the door when sales are falling. $17bn turnover JCP saw sales fall by over four per cent in 2011.
And the company also has a new boss, former Target marketing chief Michael Francis. Company president Francis has appointed indie creative agency Peterson Milla Hooks, Interpublic-owned PMK-BNC and Mother, New York, to JCP’s roster since taking over. Now JCP says: “Both J.C. Penney and Saatchi mutually decided to end our relationship.”