Lowe chooses management buyout
About two weeks ago, the Lowe Worldwide agency network announced that it would be drastically reducing its membership. Lowe Switzerland is also affected.
Around two weeks ago, the Lowe Worlwide agency network announced that it would be drastically reducing the number of agencies. Lowe Switzerland is also affected. In the meantime, the Zurich agency has opted for a management buyout. "I am currently working on putting together a good team - further information regarding the agency name, number of employees and choice of structure will follow in mid-May," agency boss Kurt Schmid told Werbewoche. However, it is currently certain that Daniel Brüngger, Managing Director of the Lowe Direkt direct marketing department, handed in his notice at the end of April. Lowe Worlwide, which belongs to the Interpublic Group, is reducing its agency portfolio from 83 branches to 36. However, only eight of these will remain fully owned by Lowe in the form of hubs worldwide, with the Group taking a stake in the rest.
