Lowdown: Analysts Don't Seem to Care at All About Pepsi's Kendall Jenner Ad
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The Lowdown is Ad Age’s weekly look at news nuggets from across the world of marketing, including trends, campaign tidbits, executive comings and goings and more.
Gary Vaynerchuk, speaking at the Association of National Advertisers annual meeting last year, made plain his ambition to buy an orphan packaged-goods brand with great equity he can make greater. Now he’s got his chance. Unilever wants to sell its margarine business (I Can’t Believe It’s Not Butter, etc.) and RB (Reckitt Benckiser) is “exploring strategic options” on French’s Mustard and Frank’s Red Hot Sauce. So is Vaynerchuk interested? Not really. While he was reportedly close on another unnamed brand recently, he said he sees such a deal coming “more in 24 to 48 months, not 24 to 48 weeks.” He’s interested in businesses with $50 million to $200 million in revenue. Categories he’s most intrigued by are toothpaste and bubblegum. But he remains focused on running VaynerMedia, and doing such a deal may be based on having “a proper CEO in place to run VaynerMedia” though he may try to do both initially. He confirmed recent reports of layoffs — “17 to 18 out of 750,” net of new hires and promotions. Vaynerchuk said the layoffs reflected a shift toward creative services and away from production, and similar moves could come in the future as he shifts focus toward such areas as small business and consulting.
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