After a highly competitive pitch, ITC Ltd. has awarded its media and digital duties to IPG Mediabrands.
ITC Ltd. has acknowledged the development but did not provide any further details.
The FMCG giant called for a media review this February for mainline media handling and media buying for television, print and outdoor.
The account size is estimated to be Rs 600-plus crore.
As per highly placed sources, incumbent agency Wavemaker has been sent a regret note. Wavemaker has been ITC Ltd.'s Agency on Record (AOR) for mainline media handling and media buying since April 2017.
ITC Ltd. encompasses a host of brands that are spread across categories like Foods, Personal Care, Matches & Agarbatti.