Marketers boost budgets in Argentina

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[Buenos Aires, Argentina] In a sign of Argentina's ongoing recovery after a devastating economic collapse in late 2001, major marketers like Procter & Gamble Co., Coca-Cola Co., Unilever, and Danone Group doubled their ad spending in 2003 from the previous year, according to a report by Interpublic's Initiative Media, and new ad agencies are starting up. Unilever, for instance, increased its ad budget to $117 million in 2003, from just $57 million in 2002, according to Initiative. On the agency front, Damian Kepel, creative director of WPP Group's Young & Rubicam Argentina, is opening Kepel y Mata with Mariano Mataloni, general director of WPP's Ogilvy & Mather, Buenos Aires. Most of Argentina's hottest agencies-Agulla & Baccetti, VegaOlmos-Ponce, Cravero Lanis Euro RSCG and del Campo Nazca Saatchi & Saatchi-have been started by former Y&R creatives.
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