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The Vinyl Factory

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64-449: The Vinyl Factory is a music company based in London. It includes a record label, vinyl pressing plant, and a venue space. It also publishes Fact magazine and owns Phonica Records store. The Vinyl Factory began as a pressing plant in 2001 after purchasing the manufacturing equipment from EMI . For two years, they completed orders left over from EMI's company, which helped keep and maintain

128-615: A London office, with additional full-time staff in Los Angeles and New York City. It is part of The Vinyl Factory group. Fact was founded in 2003 as a print magazine. It commissioned covers by artists including M.I.A. , Bat for Lashes , Shepard Fairey , Barry McGee , Peter Saville , Trevor Jackson , Klaxons , and Brazil's Os Gemeos . It reached a peak circulation of 28,000 (25,000 UK and 3,000 overseas) and readership of 100,000+ per issue, having been available free from independent record stores, clothing outlets, and music/arts venues in

192-645: A Publicis agency and creative agency Goodby, Silverstein and Partners. Johnson & Johnson also decided to review its relationship, withdrawing its $ US100m Tylenol account from the New York office. A few months later, InBev announced that its Beck's Beer account would shift to Leo Burnett after only a year at the agency. As a result, Roberts committed to building revenue through its existing clients, which led to additional assignments, with Saatchi Los Angeles securing new accounts such as Pur Filtered Water and Millstone Gourmet Coffee . Efforts were also made to shore up

256-555: A bi-monthly print magazine, Fact went digital in 2008, focusing on its website and online TV channel Fact TV , which produces documentaries and videos including the series Against the Clock . In November 2020 it returned to publishing a bi-annual print magazine. Fact produces weekly Fact Mixes. It previously produced the Singles Club review series, and Make Music, aimed at inspiring producers and bedroom musicians. Fact operates out of

320-674: A bold attitude and employed people who went on to be stars of their industry including Sir John Hegarty, Lord Tim Bell and Sir Martin Sorrell . The acquisition drive was less about removing competition than about adding to their offering of professional marketing services beyond advertising, and later included an international expansion drive – particularly into the United States. Between 1972 and 1987 over 35 marketing services businesses were acquired, including four significant ad agency networks. Those acquisitions are listed below: Scarcely any of

384-408: A client list that includes Sony, Orange and Asda, has been consistently lauded for its new business and creative success, its Minneapolis headquarters, where namesake founder Pat Fallon remains a presence, has been tarnished by a number of client losses, including Citigroup , BMW , Sony , Dyson and Starbucks . The new alliance, known as Saatchi & Saatchi-Fallon (SSF Group), will operate under

448-556: A global mobile marketing agency. Saatchi’s digital efforts led to awards in 2006 from PricewaterhouseCoopers and Procter & Gamble . A competition organised by the former Saatchi & Saatchi 2009 interns in London to win an internship at the firm led to the formation of the Secret London Facebook Group, and the associated website. In August 2011, Telecom New Zealand canceled the "Backing Black" advertising campaign, which called on fans to abstain from sex during

512-472: A loyal customer base. In 2008, Vinyl Factory expanded into a record label. The Vinyl Factory has curated exhibitions and events at three spaces in London, The Vinyl Factory Soho , Brewer Street Car Park and Store Studios, 180 The Strand . Recent audio-visual shows presented by Store X The Vinyl Factory have included The Infinite Mix (2016), in partnership with Hayward Gallery ; Everything At Once (2017) in partnership with Lisson Gallery and Arthur Jafa's Love

576-523: A number of agency assets being sold, including the Fitch design company (to the WPP group), management consultants The Hay Group and a number of the other 383 offices around the world that had been acquired in the 1980s. After the 1995 shakeout, the key imperative for the new owners was to manage the relationships with Saatchi & Saatchi's blue-chip client base, which at this point included decades-old partnerships with

640-548: A pre-determined threshold at a nominated forward date would enable the preference holders to put their stock back to the company, these instruments were in truth more like interest-paying debt . Difficulties arose after the 1987 Bates acquisition as some clients perceived conflict concerns with other group agencies. Bates clients Warner-Lambert (billings $ 68 million), RJR Nabisco (billings $ 96 million), Michelob (billings $ 38 million), Ralston (billings $ 12 million) and McDonald's (billings $ 8 million) all pulled their accounts in

704-468: A regional network of agencies and, of course, had access to the global Compton network. With the merger, the key management positions were taken by Saatchi people. With the merger, Saatchi & Saatchi moved into Garland Compton's offices on 80 Charlotte Street in the west end of London; and the agency now found itself in the UK Top 5 agencies for size of billings. This was a successful 13 years for Saatchi:

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768-476: A time when the agency produced admired creative work, and had an appetite for global business expansion. Noted work included their campaign " Labour Isn't Working " on behalf of the Conservative Party before the 1979 UK general election and ongoing campaigns for British Airways , and Silk Cut with whom the agency had long relationships. The agency was seen as producing breakthrough creative work with

832-576: Is a British multinational communications and advertising agency network with 114 offices in 76 countries and over 6,500 staff. It was founded in 1970 and is currently headquartered in London . The parent company of the agency group was known as Saatchi and Saatchi PLC from 1976 to 1994, was listed on the New York Stock Exchange until 2000 and, for a time, was a constituent of the FTSE 100 Index . In 2000,

896-639: Is open to the public. Saatchi & Saatchi has offices in over 80 countries around the world. Its worldwide headquarters are in New York City. Its other main office, in the United States, is located in Torrance, California . In the United States, Saatchi's largest clients are Toyota , Procter & Gamble and General Mills . The London office, the home of the original agency, was originally on Charlotte Street but then relocated to Chancery Lane in 2017. The office has its own pub, named "The Pregnant Man" after

960-543: Is the Message, the Message is Death (2017), in partnership with the Serpentine Galleries . Previously, The Vinyl Factory has presented solo exhibitions by Ragnar Kjartansson , Ryoji Ikeda , Carsten Nicolai and Richard Mosse , and group exhibitions with Lazarides , and The Moving Museum as well as celebrations of the vinyl aesthetic of Kraftwerk , David Bowie and Punk . In 2013 The Vinyl Factory also partnered with

1024-536: The British Council to host the opening party for Jeremy Deller at the Venice Biennale and presented Dinos Chapman's first live music show at Sónar and subsequently during Frieze Art Fair in London. In 2017, The Vinyl Factory initiated VF Commissions, a new venture producing and collaborating with artists to create new site specific works. The first of these were Kahlil Joseph 's Fly Paper, which opened at

1088-553: The Campbell Soup Company , Hewlett-Packard , Johnson & Johnson , Procter & Gamble , DuPont , Philip Morris and General Mills . The strength of these relationship were the legacy of the earlier acquisitions of Compton, of Bates Worldwide and of Dancer Fitzgerald Sample whose relationship with Procter & Gamble had stood since the 1920s. While the British Airways and Mars defections in 1995 destabilised

1152-664: The Cannes Lions Festival , and featured directors such as Spike Jonze, Jonathan Glazer, Ellen von Unwerth, Kinka Usher, Floria Sigismondi, Mark Romanek, Michel Gondry, and Samuel Bayer. 32 years later, the showcase is still one of the highest attended events at the festival. Richard Humphreys was the CEO and Chairman of the agency in the 1980s. He was brought in following the acquisition of Humphreys, Bull and Barker and worked on accounts like Carlsberg, Saab, Castlemaine XXXX. Humphreys started his own advertising agency in 1978 and took it to

1216-491: The Cordiant Communications Group and the subsidiary businesses split into two main groupings: Research and Advertising. The Saatchi & Saatchi Advertising network formed the keystone of the latter. At this time, Bob Seelert was brought in as CEO to stabilize the company, and the acquisition frenzy that characterised the agency throughout the 1980s was taken to task under the new management system. This led to

1280-615: The New Museum in New York in September 2017, and Ryoji Ikeda's test pattern (no.12) which premiered at Store Studios, 180 The Strand, from October to December 2017, attracting over 100,000 visitors. Fact (UK magazine) Fact is a music publication that launched in the UK in 2003. It covers UK, US, and international music and youth culture topics, with particular focus on electronic , pop , rap , and experimental artists. Having started as

1344-511: The Paris Bourse and the New York Stock Exchange . The brothers in 1987 made their boldest move to date when they made plans for a take over run of the ailing Midland Bank , Britain's fourth largest bank at the time with 2,100 UK branches. The bank's Board rejected the offer in September 1987, openly questioned the qualifications of the Saatchis to be running a bank and may have leaked details of

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1408-543: The Rugby World Cup and wear black rubber rings to show their support. Telecom's retail boss Alan Gourdie apologised for offending Kiwis. Saatchi & Saatchi, which was responsible for the concept and delivery, refused to comment. Saatchi & Saatchi boss Kevin Roberts earlier defended the ads. Fans were more outspoken, flooding Backing Black's official Facebook site with messages of disgust. Prime Minister John Key said

1472-426: The "ideas agency" model, the London office continued its slide as it plummeted out of the UK Top 10 list of agencies (a list, compiled by industry magazine Campaign UK, based on reported client billings). In early 2007, the London office saw the bulk of its work for Toyota UK and Europe leave to upstart agency CHI & Partners, just months after it had lost the entire Lexus business to the same agency. Late 2006 saw

1536-546: The Compton premises. Goldman quotes executives of acquired entities including David McCall (McCaffrey & McCall) and Alan Siegel (Siegel+Gale) saying that they never met Charles Saatchi and that neither brother nor other group management had any involvement in their business after acquisition. There was no drive to achieve back-office economies, no systemisation of process/administration, and no cross-referrals of inter-group business. At its foundation in 1970, Saatchi & Saatchi

1600-630: The Conservative Party in 1979, in 2007 it was appointed the advertising agency for the Labour Party . The agency then devised the Not Flash, Just Gordon advertising campaign for the party in anticipation of the calling a snap general election by the newly installed Prime Minister, Gordon Brown . While the addition of Wendy's and JC Penney to the American client roster reaffirmed Roberts' belief in

1664-666: The Labour Party. It was during these early years that the agency produced its first famous ad: the Pregnant Man for the UK's Health Education Council featuring a man who appeared to be pregnant. In 1975, the Saatchi brothers set upon a ferocious course of business acquisitions. With the reverse takeover of the Garland Compton agency in 1975, they achieved a public company listing and were thereafter able to make rights issues to raise

1728-461: The Los Angeles office after it missed a $ US40 million brief for Toyota 's Scion , a new sub-brand targeted at youth, which was given to San Francisco-based Attik , a hybrid creative agency. Despite these losses, this strategy gave rise to the Lovemarks philosophy – a theory espoused in a book by the same name released by Roberts. While this was met with scepticism in the advertising world, Roberts

1792-471: The March 1989 annual general meeting the share price dropped promptly by £0.6 to £3.20 or 16%. Between January and May 1989, 6% of the workforce or 800 employees were laid off, by the end of 1993 that number had grown to 7,000. In June 1989, Saatchi & Saatchi announced its intention to sell off its entire consulting division and to focus on advertising and related services. Later that year Robert Louis-Dreyfus

1856-582: The Publicis Groupe, a global marketing concern based in Paris, France. Publicis kept Roberts as CEO, content with his vision for an "ideas agency". Saatchi & Saatchi still underwent some turmoil throughout this time, as the dot-com bubble saw the closure of its San Francisco office, which effectively ended its 15-year relationship with the Hewlett-Packard company. The account was subsequently split between

1920-408: The Saatchi brothers in 1995 and the subsequent formation of M&C Saatchi saw a period of turmoil for the agency, as key figureheads from the London office joined the defection to the new entity. At this point, nearly £40 million of revenue left the agency, with a further £11 million spent on severance and litigation against the staff members who left. In 1995, Saatchi & Saatchi PLC was renamed

1984-680: The State of Wisconsin Investment Board, which had built up an 8.1% holding during Herro's time there and with colleagues at the General Electric Capital Corporation, which held 5%. Herro became concerned in 1992 at the negative effect on the investment of the public bickering between Scott and Maurice Saatchi and made this view known to the board along with his intention to monitor the business closely. In late 1994, Herro expressed his view (and that of his associate shareholders) to

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2048-527: The UK and elsewhere. In 2016, for example, the UK agency was sitting at Number 12 in Campaign Magazine table of agency billings. In 2017, the global CEO Kevin Roberts left the agency after a controversy around comments that he made regarding women's equality in the advertising industry. He was replaced by Robert Senior. By the end of 2017, the alliance broke up as Fallon was "realigned" into another Publicis Groupe communications agency, Leo Burnett. Under

2112-474: The UK, Europe, Russia, Canada and the United States), with a reported total of $ US200 million in billings. Whilst Fallon London would lead creative efforts across Europe, Saatchi's New York office was handed the brief to handle the business in the United States, where Cadbury remains a relative unknown compared to its main competitor, Hershey . Over time, the agency had lost some of its pre-eminent position in

2176-495: The UK, France, Germany, Spain, and Japan. In 2007, some controversy was caused when Dr Martens placed an advertisement in Fact featuring manipulated photographs of a number of dead rock musicians so that they appeared to be wearing the company's boots in heaven. When some of these musicians' families saw the advert, they reacted, leading Dr Martens to dismiss their advertising agency Saatchi & Saatchi . In 2008, it discontinued

2240-434: The agency achieved after-tax profits of $ 4.07 million. The rights issue to raise the $ 29.2 million watered down the brothers' holding to 18% of the combined group. From June 1988 (see next section), the company began to use redeemable preference shares to raise capital. These securities look like equity and were classified as such on the company's balance sheet but since a failure of the company's share price to rise above

2304-472: The agency's reputation in London, it seemed not to affect operations in its biggest market, the United States. The growth of its new healthcare arm in New York City and increased spending from its West Coast auto clients Toyota and Lexus enabled a period of steady growth for its American operations. In 1997, Seelert transitioned into the role of Chairman, and Kevin Roberts became CEO. Saatchi & Saatchi officially dropped "Advertising" from its name. This

2368-496: The bid to the press. In the same month Maurice Saatchi met with board executives of the Hill Samuel merchant bank to discuss an acquisition. Once the financial press became aware of the moves the brothers became the subject of unprecedented ridicule with the criticisms focused on the notion that bank customers, staff and shareholders would be able to make no sense of their bank being part of an ad agency group. The City 's reaction

2432-399: The board of Saatchi & Saatchi PLC that Maurice should be dismissed as chairman due to his tardiness in reducing costs by maintaining expensive corporate offices at Berkeley Square for too long, Maurice's expressed intention to perhaps launch a takeover or partial takeover, and his insistence on a new incentive/option plan which Herro saw as structured to Maurice's favour. In December 1994,

2496-478: The board succumbed to shareholder pressure and sacked Maurice as chairman. Within a month senior executives Jeremy Sinclair, Bill Muirhead, David Kershaw, Moray McLennan, Nick Hurrell, Simon Dicketts, and James Lowther all also resigned and joined Maurice Saatchi in a new business, M&C Saatchi . Charles Saatchi, other Saatchi staff and some consequential clients followed including Gallaher Group , Mirror Newspapers , Dixons and British Airways . The ousting of

2560-417: The campaign was evidence not all advertising dollars were well spent. Bob Isherwood joined Saatchi & Saatchi in 1986, where he spent 22 years, including 11 years as the agency’s Worldwide Creative Director, and served as chair of its Worldwide Creative Board. Under his leadership, Saatchi & Saatchi’s global network of 143 offices in 83 countries consistently ranked among the top creative agencies in

2624-623: The capital required for their acquisition drive. Garland Compton were a long established, conservative British agency, founded by Sidney Garland in 1927. In 1960, the US agency, Compton Advertising, bought a minority holding so that they could build their own international network, primarily to service their largest client, Procter & Gamble . Garland Compton was also a top 10 agency with big spending clients including Bass, British Caledonian, Gillette , New Zealand Dairy Board , Procter & Gamble, Schweppes and United Biscuits . They had also established

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2688-432: The cost-cutting and consolidation drive but found himself in regular disagreement with Maurice Saatchi and the two executives sometimes conducted their spat via press leaks and stories which found their way into the papers. David Herro , a U.S.-based investment analyst and fund manager, managed a 9.6% holding in Saatchi & Saatchi for his employer Harris Associates L.P. . He maintained dialogue with his former employer,

2752-487: The crash, by 1988 Saatchi & Saatchi Plc was unable to use its previously reliable rights issue method to raise the capital it needed to continue its acquisition drive. In June 1988, the company issued £176.5 million of convertible preference shares at £4.41 each to fund its acquisition of the Gartner Group , an information technology market research firm. If Saatchi PLC shares did not go above £4.41 by July 1993,

2816-595: The enlarged group, while Compton U.S.A owned 26% and 38% was held by public shareholders. The Compton UK listed status meant that the Saatchi & Saatchi business could now issue stock, and the capital for the subsequent acquisitions was raised by giving existing shareholders the first rights to purchase new stock at a discount. Commonly, the acquisitions used a part cash up-front/ part earn-out mechanism as perfected by Martin Sorrell . The 1982 acquisition of Compton's U.S. business, for instance outlaid $ 29.2 million in cash and another $ 27.6 million to be paid over ten years if

2880-456: The firm's first famous ad. Saatchi's worldwide CEO is Magnus Djaba . In August 2016, Saatchi & Saatchi announced the appointment of Andrea Diquez as CEO, replacing Brent Smart. 2006 saw the agency focus its digital credentials. As marketers noted the migration of consumers to media such as mobile phones and broadband Internet services, Saatchi responded with initiatives, such as its global joint venture with New Zealand -based Hyperfactory,

2944-523: The genesis of what would become Saatchi & Saatchi was born in London in 1967 as the creative consultancy CramerSaatchi. The consultancy took on employees John Hegarty and Jeremy Sinclair and began to work direct for clients. It was Sinclair's "Pregnant Man" ad for the Health Education Council which first attracted attention to the small agency. Charles's younger brother Maurice joined the business in 1970 after Cramer's departure whereupon it

3008-493: The group was acquired by the Publicis Groupe. In 2005, the group went private. Saatchi & Saatchi was founded in London by brothers Maurice (now Lord Saatchi) and Charles Saatchi in 1970. Following stints starting as a copywriter at the New York City offices of Benton & Bowles in 1965, then at Collett Dickenson Pearce and John Collins & Partners, Charles Saatchi teamed up with art director Ross Cramer, and

3072-415: The growth of the Saatchi & Saatchi PLC was organic with the only start-ups being The Sales Promotion Agency in 1980 and Financial Dynamics PR in 1986. Whilst their foundation London office was consistently successful in winning new clients, it too was propelled forward in the 1976 merger with the UK operation of the larger Garland-Compton business resulting in its tripling of size and a relocation into

3136-464: The holders could put the shares back to the company at £4.41 plus a 25% bonus. Saatchi & Saatchi PLC stood to owe £211 million for the £176.5 million of capital raised. Profits were up by 11% in 1988 to £138 million but in 1989 the Group had to report its first ever decline after eighteen years of growth when the profit dropped dramatically to £21.8 million. When this was forewarned at

3200-585: The majority of its business into another roster agency, Kirshenbaum Bond & Partners, after complaints from Wendy Thomas (the namesake of the restaurant) who did not take kindly to her likeness being used in the advertising. In 2005, critics complained that in creating a £20 million campaign for a new Brazilian spirit the agency spray-painted graffiti images on walls and buildings in the East End of London. Dr Martens CEO David Suddens decided to fire Saatchi & Saatchi as their advertiser on 24 May 2007. This

3264-657: The months following that acquisition. Colgate-Palmolive assignments were also pulled from Bates at the same time as their direct competitor Procter & Gamble were pulling business from Saatchi & Saatchi Compton and DFS Dorland due to their conflict concerns. However the London ad agency was still the number one in the profits in the UK in 1987 and the Worldwide Group was performing financially with Saatchi & Saatchi Company PLC recording its seventeenth year of consecutive growth with profits of £124.1M up from m 1986's £70.1M. The Group expanded its public listings to include

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3328-481: The print edition, becoming exclusively an online magazine . In November 2020, Fact resumed producing a large format bi-annual print magazine, with editions in Autumn/Winter 2020, Fall/Winter 2021, and Spring/Summer 2022. Fact was named "music website of the year" by The New Yorker in 2007 and has been described as "influential" by The Guardian . Saatchi %26 Saatchi Saatchi and Saatchi

3392-447: The return of some Toyota business, including the £60m pan-European launch of the Auris , Toyota's Corolla successor. In July 2007, it was announced by Publicis chief Maurice Levy that Saatchi & Saatchi would form a new business alliance with sister agency Fallon. Fallon, part-owned by Publicis, has enjoyed similar mixed success with its network of offices. While its London office, with

3456-643: The supervision of Kevin Roberts, who was named as CEO of the new entity. Reporting to him is Robert Senior , one of the original partners of Fallon London, who will preside over the Europe & UK operations of the alliance, including both Saatchi and Fallon offices in London. After a year of operations, it was announced in October 2008 that the SSF Group had been contracted by chocolate giant Cadbury to handle its Dairy Milk and related brands across several markets (including

3520-409: The supervision of new CEO Magnus Djaba, Saatchi & Saatchi London moved out of 80 Charlotte Street, its HQ for over fifty years. They set up a new purpose-built Publicis Communications campus and Saatchi & Saatchi global headquarters at 40 Chancery Lane, London. Following in the tradition of the staff-only pub; the company created a new onsite joint venture, again named ' The Pregnant Man' which

3584-446: The top twenty in the UK by the mid-eighties. After selling to Saatchi & Saatchi he was appointed President of Saatchi & Saatchi Advertising Worldwide where he was responsible for 63 companies with over five thousand staff in 27 countries. After his time at Saatchi & Saatchi Humphreys was co-founder and President of Adcom Investors, owner of a leading US advertising, new media and sports marketing group of companies. He negotiated

3648-407: The world, winning more than 8,000 major awards – including becoming the #1 creative network at the 2002 Cannes Lions Festival – for clients such as P&G and Toyota, for whom Bob served as creative director for the global launch of Toyota Prius. The Saatchi & Saatchi New Directors Showcase was also under his purview. Along with Richard Meyers, it grew to become the most anticipated premiere at

3712-403: Was appointed as CEO of the listed company. He effected the sale of a number of businesses (the consultancies Infocom and Hay Consulting collectively sold for half their initial purchase price) and presided over a major restructuring of the company until his departure in mid-1992. His successor was Charles Scott, who had joined the business with Louis-Dreyfus in 1989 as Finance Director. He continued

3776-478: Was because of a one-time advertisement that used a picture of the 1990s music icon Kurt Cobain without the permission of Courtney Love , Cobain's widow. In its defence, Saatchi released a statement indicating their regret of Dr Marten's decision to terminate their services with them but emphasising that they believed that the advertisement was deliberately edgy but not offensive. Although the agency had gained early fame for its "Labour isn't working" advertising for

3840-443: Was financed with £100,000 of capital from the brothers and some backers including the designer Mary Quant and her husband. The initial shareholding was 15% Cannon Holdings (Quant & friends); 42% Charles; 38% Maurice; 2.5% John Hegarty; 2.5% Tim Bell. The company was profitable in its first year. To achieve the first large merger (Garland Compton in 1975) the brothers sold their interest in their business for shares, receiving 36% of

3904-553: Was part of an imperative installed by Roberts, a beverage marketing veteran brought in to continue the revival of the agency's fortunes. A significant decision of his was to move the global headquarters of the agency from its Charlotte Street, London address to its Hudson St, New York City office. Newly dubbed an "ideas company" by Roberts, the agency sought to usher its resources towards the internet, still very much in its infancy in 1997. In 2000, after speculation that it would be acquired by WPP or Omnicom , Saatchi & Saatchi joined

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3968-443: Was renamed "Saatchi and Saatchi" and developed into a full-service advertising agency. As a creative consultancy they had worked primarily on projects for agencies but having become a full service agency they were able to quickly build their own solid client base and, by 1975, this included blue-chip clients such as Associated Newspapers, British Leyland, Brutus Jeans, Cunard, Dunlop, National Magazines, and Nestle. They also worked for

4032-482: Was swift and in mid-September 1987 the Saatchi & Saatchi share price fell 6.2% in two days. On 19 October 1987, the world stockmarkets crashed . Saatchi & Saatchi stock fell by 1/3 in twenty-four hours and by mid-October was at £5.48 down from £6.70 in mid-September and £7.05 high of 1987. As a result of the perceptions lingering after the Midland Bank discussions, on top of the general nervousness that followed

4096-545: Was vindicated in 2006 when he secured nearly $ US700 million worth of billings from two clients, Wendy's and department store JC Penney . Subsequent additions to the New York office, such as the New York Tourism Board and Cold Stone Creamery have been described by both client and agency as 'being due to a strong belief in the Lovemarks' philosophy. Despite this, after only a year with the agency, Wendy's decided to pull

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