Carrefour and Publicis to Launch Joint Venture in Retail Media Market
Carrefour Group and Publicis Groupe announced their intention to form a joint venture targeting the rapidly expanding retail media market across Continental Europe and Latin America.
Paris-Massy – Retail giant Carrefour Group and advertising firm Publicis Groupe have announced plans to establish a joint venture aimed at capitalizing on the significant growth opportunities in the retail media sector across Continental Europe and Latin America. The new entity seeks to become a leading player in this dynamic market.
Retail media is identified as the fastest-growing channel for advertising spend, disrupting traditional media landscapes. Industry projections suggest it will surpass TV advertising for consumer packaged goods companies within three years. The addressable market in Continental Europe is expected to exceed €5 billion by 2026.
The joint venture will leverage Publicis' technological expertise, including its CitrusAd platform powered by Epsilon, alongside Carrefour's extensive retail media knowledge and data capabilities. This combination aims to create a comprehensive offering that spans technology, data sharing, and the commercialization of media solutions for advertisers.
Carrefour will hold a 51% stake in the venture, with Publicis Groupe holding 49%. Operations are anticipated to commence in the first half of 2023, pending regulatory approvals and legal consultations.