Following a competitive review, Ikea has consolidated its global roster of media partners to two holding groups, Group M and Dentsu Aegis.
Ikea already works with both companies in many markets on its media account, which is estimated to be worth $390m globally.
This new agreement could see an unusual six-way pitch for the Ikea business in some markets, with all four GroupM agencies competing with the two Dentsu Aegis agencies.
Most markets are expected to make their selection by the end of 2016, with the UK, which currently works with Vizeum, and US, where MEC is incumbent, holding pitches.
“As part of our commitment to the ongoing improvement of our media and marketing governance, IKEA periodically evaluates all marketing service suppliers to ensure we maintain the best working relationships with the best agency partners,” read a statement from Ikea.
The Swedish flat pack furniture giant commenced its current global review process in April 2016 with the help of strategic media consultancy partners ID Comms and media audit partner MediaPath.
“After our search and having received four very strong strategic proposals, we are pleased to announce we will be working with both GroupM and Dentsu Aegis,” continued the statement. “We thank all the agency groups for participating and for all their hard work.”