Euro RSCG picked up the business after a review that included Havas sibling Arnold Worldwide, Boston, and Bartle Bogle Hegarty, New York, 49%-owned by Publicis Groupe.
Euro RSCG MVBMS Partners, New York,
Polaroid called a review of its advertising business in July; the account's incumbent, Publicis' Leo Burnett USA, Chicago, held the account for three years, with sibling Starcom, Chicago, responsible for media buying. Burnett declined to participate in the review.
Spending on the account is expected to be approximately $70 million globally. Polaroid spent $15 million in measured media in the U.S. in 2002, and $10 million from January to June of this year, according to TNS Media Intelligence/CMR.
New work in 2004
Euro RSCG Worldwide's assignment includes promotion of Polaroid cameras, film and brand marketing. A spokesman for Polaroid said new work would appear in early 2004. When asked what direction the work might take, the spokesman said: "We are looking to our agency to tell us that, to execute our strategy." He declined to discuss the strategy.
The marketer went through bankruptcy proceedings in 2001 and is facing a number of class action lawsuits as result. The latest securities class action suit, filed Sept. 30 in U.S. District Court for the Southern District of New York, alleges that certain officers of Polaroid and the company's auditor, KPMG, misrepresented Polaroid's financial condition.