Yahoo Finance Gap Inc. Names Omnicom Its Agency of Record
Gap Inc. has retained Omnicom Media Group as its new “strategic cross-brand” agency of record, Richard Dickson, president and chief executive officer of the San Francisco-based retail conglomerate, said Tuesday.
In addition, Gap Inc. is creating a marketing shared services organization “to standardize key media functions.” The company is currently seeking someone to head up the new unit, who will report directly to Dickson.
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“As our brands ramp up their reinvigoration efforts, deepening connections with customers and engaging in the cultural conversation, it’s crucial we work with best-in-class partners who can help us imagine and then do better. We’ve found that partner in OMG,” Dickson said in a memo to employees.
Omnicom’s roster of clients includes Apple, Disney, L’Oréal, Chanel, PepsiCo and Vans. “OMG recognizes that fashion is entertainment, and they know how to work at the speed of culture,” said Dickson, who has been encouraging the Gap brands to evolve at “the speed of culture.” “No agency understands customer-centricity better than they do.…OMG has deep expertise in unlocking the power of portfolio.” Gap Inc.’s portfolio includes the Old Navy, Gap, Banana Republic and Athleta brands.
Gap Inc. previously worked with a variety of agencies and is now consolidating by partnering with just one.
“For us, that means helping us modernize Gap Inc.’s media operating model by leveraging the scale of our platform while servicing individual brand needs,” Dickson wrote. “Working as one team and one company to deliver greater efficiencies and elevate each of our individual brands with culturally relevant narratives that speak to brand identity, drive traffic and build strong brand equity. Onboarding is currently underway, and we expect OMG to be fully engaged by the end of the second quarter.”
Regarding the marketing shared services organization, Dickson wrote that it will unite key media functions including shared media services, marketing intelligence and marketing enablement as one team. The new head of marketing shared services will oversee media and direct marketing planning and execution, marketing intelligence and partner management, Dickson said.
It’s unclear whether creating a shared marketing services organization will lead to layoffs, though Dickson did say in his letter, “We are leveraging the existing team. We’re fortunate to have strong media talent across our organization, and we are eager to leverage their collective strengths and skills in this new organization.”
Dickson added, “Each of these moves not only furthers our strategic priorities — maintaining financial and operational rigor, reinvigorating our brands, strengthening our platform and energizing our culture — they enable us to better shape the exciting kind of future we are creating for our brands.”
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