42 Degrees at MediaVest
Under the new structure, Tapestry's New York office will be renamed 42 Degrees at MediaVest. The Chicago and Miami offices will continue to use the Tapestry name, and will be part of Starcom. Monica Gadsby, CEO-managing director of Tapestry, will oversee both units as CEO of SMG Multicultural, which will also include Tapestry's digital innovation unit, and an insights operation that invests in proprietary research.
"The key driver for us is one of integration," Ms. Gadsby said. "To continue to be true to that model of integration and total marketing solutions, we need two brands imbedded in the general market [brands] MediaVest and Starcom for the multicultural market."
Tapestry and the 42 Degrees at MediaVest will be roughly similar in size, with Tapestry a little bigger. Even split into two units, Tapestry and 42 Degrees will be the No. 1 and No. 2 specialist media-planning and -buying companies in the U.S. Hispanic market. The two biggest clients, General Motors Corp. and Procter & Gamble Co., will work with both units.
Pioneer multicultural specialist
Tapestry was a pioneer in the multicultural media specialist area. The agency started in 2001 as a joint venture between Starcom's Hispanic division and U.S. Hispanic agency Bromley Communications, San Antonio, Texas. By 2006, Chicago-based Tapestry had rolled up the Hispanic-media billings of marketers working with Starcom, MediaVest and GM Planworks, which handles General Motors, and some of the media business for Publicis-owned Hispanic creative agencies.
Tapestry has been seen in the market as a Starcom brand, so the split into two units gives MediaVest an opportunity to carve out its own brand in the fast-growing multicultural market. The origin of the 42 Degrees at MediaVest name isn't obvious, and that's what Ms. Gadsby likes about it.
"Forty-two degrees is the angle at which the sun must hit a raindrop to form a rainbow," she said. "That [suggests] the spectrum of multiculturalism. The enigma is a conversation opener."
Caleb Windover, who was managing director of Tapestry's New York office, will hold the same title at 42 Degrees. The New York office already worked with clients aligned with MediaVest, but was focused on planning, with most media buying consolidated in Chicago. Now there will be buying centers in both cities, Ms. Gadsby said.
The managing directors of Tapestry's two offices, Danielle Gonzalez in Chicago and Isabella Sanchez in Miami, will continue in those roles.