Word: ands
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Dates: during 1980-1989
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To halt the exodus, the Saatchis divided their advertising empire into two separate international networks. Backer & Spielvogel was merged with Ted Bates, while Dancer Fitzgerald Sample and Compton were combined to form Saatchi & Saatchi Worldwide. Says Carl Spielvogel, chairman of the merged Backer Spielvogel Bates network: "We don't cooperate...
By hiring Louis-Dreyfus, the Saatchis have harked back to the skill that transformed their small agency in London's Soho district into an international behemoth: hard-nosed financial know-how. The Iraqi-born brothers convinced London investors a decade ago that the ad business was an intriguing play. The...
Investors agreed. They flocked to place money with the brothers, who had earned a reputation for creativity and bareknuckle competitiveness in the genteel British ad market. The Saatchis went on a billion-dollar spree that sparked panic on then complacent Madison Avenue and helped fuel a merger frenzy as other...
From 1982 to 1986, Saatchi & Saatchi revenues increased more than elevenfold, from $62 million to $697 million. In 1986, with the $450 million purchase of the Ted Bates agency, the brothers reached their avowed goal: Saatchi & Saatchi was the world's biggest ad firm. By last year, their client billings...
The Saatchis soon learned that bulk can have its downside. Many advertisers objected to being crowded into the same corporate tent with rival products. Colgate-Palmolive, Procter & Gamble, Warner-Lambert and other major firms have pulled nearly $600 million worth of accounts from Saatchi-owned agencies since 1986.