Hasta La Creative!

Fragrance manufacturer Coty is conducting a review to consolidate global media, according to people close to the process. As part of the review, the company is asking agencies to agree to 150-day lags in payment.

“We can confirm that there is an agency pitch but we are not going to comment how we are negotiating with agencies,” said a Coty spokeswoman.

Coty is the latest in a string of big marketers to ask for extended payment terms, but its 150-day ask is aggressive compared to those marketers who have capped the terms at 120 days. Global candy giant Mars last year sought to extend the period before suppliers get paid to as long as 120 days, and a couple of years ago Mondelez International confirmed it was instituting 120-day terms. Around that time, Procter & Gamble Co said it would seek to extend payment terms from 30 to 75 days in new contracts with agencies.

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