Ikea has confirmed that it has appointed both GroupM and Dentsu Aegis to handle its global media account, which is worth an estimated €400m.
The unique partnership deals mean that each of the brand's local markets will turn to either of the holding group's agencies to take care of their media buying.
Back in March, the Swedish retailer announced a global review of its media relationships as it looked to consolidate the business which was being spread across five different holding companies including WPP, Dentsu Aegis and Vizeum.
"After our search and having received four very strong strategic proposals, we are pleased to announce we will be working with both GroupM and Dentsu Aegis. We thank all the agency groups for participating and for all their hard work," an Ikea spokesperson told The Drum.
Ikea's offices in the UK, the US and the other 28 markets it operates in are anticipated to conduct media reviews before the end of 2016.
"As part of our commitment to the ongoing improvement of our media and marketing governance, Ikea periodically evaluates all marketing service suppliers to ensure we maintain the best working relationships with the best agency partners," Ikea added.
Ikea started this global review process in April 2016 with help from strategic media consultancy partners, ID Comms, and its media audit partner, MediaPath.