Saatchi resigns $5 million Brazilian dot-com account

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SAO PAULO--F/Nazca Saatchi & Saatchi has resigned clientSubmarino's estimated $5 million advertising account. Submarino in an online seller of books, CDs and toys. The agency declined to give reasons for the resignation. Submarino Marketing Director Marcelo Ballona says he is sorry to lose the agency headed by Fabio Fernandes. Owned by a group of Brazilian investors, Submarino launched in Brazil and Spain last November and then in Mexico and Argentina.

Copyright April 2000, Crain Communications Inc.

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