Richfield, Minn.—Consumer electronics retailer Best Buy Co. is out speaking with ad agencies regarding integrated marketing for its Best Buy for Business division.
“Best Buy for Business is currently gathering information on firms and capabilities to support integrated marketing efforts in the b-to-b space for the brand," company spokeswoman Lisa Hawks said in an e-mail.
Hawks said, however, that “there is no ad agency RFP or search in progress.”
Best Buy’s outreach to ad agencies for its business unit has sparked speculation that it may dismantle its own in-house advertising agency, according to a report by Advertising Age, a sibling publication of BtoB.
Best Buy for Business is the company's bid to compete with office supply retailers such as Staples and Office Depot for business customers. In its third quarter earnings report released Tuesday, the company said it has expanded the unit’s presence to 266 stores, up from 173 stores at the end of the second quarter.