And another account review prediction happened

And another account review prediction happened

Steve’s breakdown: These happen all the time. Please check our Account Review Prediction daily. We called this one last month!

Patty Trevino is Executive Vice President, CMO at [email protected] and (407) 734-9000

ORLANDO, FL: Red Lobster has put its creative account into review..

The review follows a time of tumult for Red Lobster: It has a new owner and a new chief marketing officer, and its CEO, Kelli Valade, stepped down in April after only eight months on the job.

Publicis Groupe won the account in 2014 after Darden Restaurants sold the seafood chain restaurant to Golden Gate Capital for $2.1 billion. In 2020, Thai Union Group, a seafood supplier, and investment group Seafood Alliance bought a controlling stake in Red Lobster for an undisclosed amount, according to Restaurant Business.

The creative account went into review in 2018; Publicis defended and won. But the restaurant chain’s spending has been largely inactive during COVID. In 2020, the chain put $25 million into advertising, according to figures from Kantar; by last year that had shrunk to less than $800,000. The Kantar figures include TV and various other forms of measured media.

Privately held Red Lobster brought in $2 billion in revenue in 2021, according to Forbes. Before Valade left in April—calling it “an incredibly difficult but necessary decision,” according to a news release—she appointed its first chief marketing officer, along with a chief information officer and a chief financial officer. Patty Trevino, former VP of marketing for CKE Restaurants took on the CMO role in January of this year.

Red Lobster declined to comment. Publicis Groupe declined to comment.


Now we know this Restaurant will be reviewing advertising

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