Retail group Kingfisher has appointed Finsbury to manage financial
PR in its bid for Asda, which was announced this week and would create
the ninth largest retailing company in the world.
Finsbury picks up where Kingfisher’s incumbent agency Financial Dynamics
left off last week. FD is not working on the bid for Asda because of a
conflicting client, Tesco.
City reactions to Kingfisher’s bid for Asda have been mixed, with some
commentators arguing that Asda is selling itself too cheap.
Finsbury, which worked on a project for Kingfisher last year, will
promote the benefits of the merger to the financial media, analysts and
This will include highlighting the economies of scale and sales
advantages the merger would produce such as enabling the sale of Asda’s
George clothing range in Kingfisher-owned Woolworths shops. Finsbury
will also promote the internet sales policies both retailers are
Finsbury’s brief will extend to handling PR for Kingfisher in the event
of a rival bid for Asda. Speculation is mounting that US firm Walmart,
the world’s largest retailer, may enter the fray.
Finsbury’s three-strong account team is led by agency co-founder Roland
Rudd. Rudd reports both to Kingfisher chief executive Sir Geoffrey
Mulcahy and corporate affairs director Mike Hingston.
Hingston confirmed the appointment, saying: ’Finsbury has been given an
assignment to work with us on Asda.’ He added that Financial Dynamics’
contract with Kingfisher continued.
Alongside Woolworths, Kingfisher’s UK interests include Superdrug, B&Q
and Comet. The group also owns French homestore chain Castorama and
electricals stores Darty.
Asda uses Bell Pottinger Financial for its City PR.