Conde Nast is wearing a new hat: that of ad agency, according to a report published by The Drum. The glossy magazine publisher’s in house advertising agency is based in the UK and employs a staff of 50, per The Drum.
Set up by Chief Digital Officer, Simon Gresham Jones, who is charged with discovering new revenue streams, the agency is part of a wider strategy to corner the luxury market on the media side and will offer creative strategy, project management, account handling, management and production.
“McKinsey reports the luxury market will have grown by three times the size by 2025. Conde Nast has the chance to be at the center of that opportunity. A new luxury brand entering the UK market can’t do it convincingly without partnering with [us] in one way or another,” Gresham Jones told The Drum.