"Now I'll be advising customers personally again advise"

Kurt Schmid takes over majority shareholding in Lowe Switzerland. The former Managing Director now holds 80 percent of the agency's shares.
W
he deal is a fact, Schmid confirmed to Werbewoche. Schmid had been in talks with Lowe International since April and negotiated "a fair solution" with the network. Lowe International now still holds 19 percent of Lowe Switzerland's shares. The big advantage of this new ownership structure, according to Schmid, is that Lowe Switzerland is no longer subject to the strict U.S. reporting standards for publicly traded companies, but to Swiss standards. Schmid estimates that this will create savings in the six-figure range. This upheaval had already become apparent in the spring, when Lowe International announced that it would reduce its agency headcount from 83 to 36 (see "Management buyout at Lowe Switzerland?").
Formerly the third-largest agency in Switzerland, Lowe & Partner intends to maintain its position as a medium-sized agency with 20 to 25 employees in the future. Currently, the agency still employs 30 to 35 people; according to Schmid, the staff reduction will be achieved through natural mutations. The reason for the necessary reduction in staff is primarily the loss of the extensive mandate from Orange, whose marketing activities are now managed exclusively from Paris.

After the agency's relocation and the loss of two important mandates, besides Orange Credit Suisse, Lowe is now to regain calm. Schmid wants to achieve this through continuity and efficiency. One step toward streamlining the company is the elimination of the separation between Lowe Direct and Lowe Advertising. The management team remains unchanged. In addition to Schmid, creative director Keith Lowell and agency manager Rolf Jeger continue to lead the company. Schmid himself is pleased that he will now be working more on the front lines again, developing strategies and growth ideas in personal contact with clients.