Carrefour and Publicis Form Joint Venture for Retail Media Leadership
Retail giants Carrefour and advertising group Publicis Groupe have announced their intention to create a joint venture focused on the growing retail media market in continental Europe and Latin America. The partnership aims to establish a leading player in the sector.
Carrefour and Publicis Groupe are joining forces to establish a new entity aimed at becoming a leader in the burgeoning retail media market across continental Europe and Latin America. The joint venture will leverage Carrefour's extensive customer data and retail expertise alongside Publicis's advanced advertising technologies.
The retail media sector is experiencing rapid growth globally, with projections indicating it will soon surpass television advertising in the United States. In continental Europe, the addressable market is expected to exceed €5 billion by 2026. This new venture seeks to capitalize on this trend by offering a comprehensive platform for retailers and brands.
Carrefour will hold a 51% stake in the joint venture, with Publicis Groupe owning 49%. The company is set to begin operations in the first half of 2023, pending regulatory approvals. Its initial focus will be on continental Europe, Brazil, and Argentina.
Both companies see this as a strategic move to address market fragmentation and provide advertisers with enhanced consumer insights and effective media solutions. The partnership aims to build an unparalleled media network, driving the development of retail media in the targeted regions and helping brands navigate a post-cookie advertising landscape.