Walgreens shifts business to Ogilvy and VMLY&R

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walgreens-WPP

Grey NY to
still handle
B2B business, but
consumer business
to be divided between
Ogilvy Chicago and
VLMY&R Chicago

Looks like Walgreens, the largest pharmacy chain in the U.S., is stocking up on WPP agencies.

According to Adweek, Grey New York lost a vast majority of the account as the Deerfield, IL-based brand chose the Chicago offices of Ogilvy and VMLY&R to handle lead creative and digital duties.

Grey, however, retains a portion of the business in a B2B capacity.

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The story says that the move took place without a review, and has been in the works for some time as we first began receiving tips way back in February.

Walgreens reportedly has seen its stock price drop approximately 40% over the past six months. What’s going on? It seems Walgreens is being affected, like other brands, by a shaky international trade and decline in foot traffic, which also corresponds with Amazon’s growth.

The chain also hired a new CMO Vineet Mehra, last December. Moves and shifts reportedly began verysoon after his appointment. There was the move of the brand’s marketing operations closer to headquarters. Mehra was also recently named Chair of Effie Worldwide’s Board of Directors, set to begin his tenure on July 1.

Source: Adweek

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