Wpp Plc - WPP STOCK NEWS

WPP has announced the acquisition of Corebiz, a leading ecommerce agency in Latin America, as part of its strategy to enhance digital commerce capabilities within the VMLY&R COMMERCE global network. Founded in 2013, Corebiz has over 600 employees and specializes in ecommerce solutions for major clients like Whirlpool and Walmart. This acquisition aligns with WPP's focus on adapting to evolving consumer needs, emphasizing growth in ecommerce strategies and expanding the company's market presence.

WPP has announced the merger of Design Bridge and Superunion to form Design Bridge and Partners, launching in January 2023. This merger aims to create a leading design company, combining their strengths in brand strategy and creative design. The new entity will serve a diverse client base, enhancing growth opportunities for employees while addressing market needs for integrated solutions. John Morris will serve as CEO, with Jim Prior as Chair. This initiative reflects WPP's ongoing strategy to simplify and strengthen its client offerings.

WPP has announced the acquisition of Bower House Digital, a prominent marketing technology agency based in Australia. Founded in 2017, Bower House Digital, employs around 80 staff and specializes in Salesforce Marketing Cloud solutions, serving clients like Aesop and Target. This acquisition aims to enhance WPP's technology-driven marketing capabilities and is part of its growth strategy. With over 7,000 practitioners, WPP is a major Salesforce partner, focusing on integrating creativity and technology for clients in the Australia and New Zealand regions.

Apple leads the Kantar BrandZ Most Valuable Global Brands 2022 ranking with a brand value of $947.1 billion, marking a 55% increase from the previous year. Google follows in second place, rising 79% to $819.6 billion. The combined value of the top 100 brands surged by 23% to $8.7 trillion, highlighting the importance of brand strength in today's economy. Notably, Chinese brands like Tencent and Alibaba rank fifth and ninth, respectively. The report emphasizes the need for companies to invest in brand building and diversification to maintain growth amid market volatility.

WPP has appointed Michael Houston, previously Global CEO of Grey, as President of its US operations. This role is crucial as the US is WPP's largest market, generating around $6 billion in annual revenue and employing approximately 20,000 staff. Houston will focus on enhancing collaboration among agencies, improving talent acquisition, and promoting diversity. He will also assist in leadership transitions at Grey and serve as WPP's Executive Sponsor for P&G. This strategic move aims to leverage Houston's extensive experience to drive growth and innovation within the company.

Ogilvy Health has appointed Courtney Murphy as its new Global People Director, a role aimed at enhancing the agency's HR strategy. With over 23 years in HR, Murphy previously worked at Digitas North America and Hill Holliday, where she implemented innovative HR practices. She will oversee talent management, recruitment, and employee well-being while reporting to the Global CEO, Kim Johnson. Johnson emphasized the importance of attracting diverse talent during Ogilvy Health's transformative phase.

WPP has partnered with Epic Games to enhance digital experiences for brands in the metaverse. This collaboration includes a comprehensive training program designed for WPP's creatives to utilize Fortnite and Unreal Engine. The curriculum will cover three tracks targeted at executives, creatives, and strategists. WPP aims to leverage this partnership to create interactive brand experiences and improve online safety for younger audiences. This initiative follows WPP's launch of The Metaverse Foundry aimed at enhancing virtual content production.

TANK Worldwide and Grey Canada have launched a multimedia campaign to support humanitarian efforts for Ukraine, inspired by President Zelensky's quote. The campaign features dramatic visuals, showing Canadian landmarks transformed to depict destruction in Ukraine. Engaging on platforms like social media and digital billboards, the initiative encourages donations through Razom for Ukraine. The campaign aims to raise awareness and provides critical aid, with Razom sending an average of 50 pallets of medical supplies weekly. Creative industries have united to amplify this important message.

WPP reported a solid start to 2022 with Q1 revenue rising to £3.1 billion, up 6.7% year-on-year, and a 10.3% increase in revenue less pass-through costs to £2.6 billion. Like-for-like growth was impressive at 8.1%, with a revised full-year growth guidance of 5.5-6.5%. Key markets like the USA and Germany exceeded expectations, achieving LFL revenue growth of 8.9% and 16.1%, respectively. Notably, WPP secured £1.8 billion in net new business and executed £362 million in share buybacks in Q1. The CEO emphasized a strong demand for digital and ecommerce services, positioning WPP for sustained growth.