One reason global ad agency network Euro RSCG will drop that name in favour of its holding company moniker, Havas Worldwide, is because the European economic crisis is tarnishing anything branded “Euro,” the company tells us. Havas wants to put the sovereign debt crisis at arms length from its $316 million revenue flagship.Havas CEO David Jones’ official reason is that Havas Worldwide wants to simplify its agency offerings to clients. The company will be divided into two divisions: Havas Creative, which will include the newly rechristened Havas Worldwide and Arnold Worldwide; and Havas Media, the buying arm.
Havas believes this will make it easier for clients to understand the company: Other holding firms, like WPP and Omnicom, have vast lists of differently named agencies.
Havas, by contrast, will mostly be called “Havas.”
But Havas communications director Lorella Gessa called us up this week to insist that Havas was not making the change in preparation for a sale or merger, as I argued yesterday. She said that the Euro-crisis made the name-change easier. She said of “Euro”:
It’s not a good name to have at this point in time. I’m not joking.
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