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We Hear: What’s the Deal with Saatchi/JCPenney? (Updated)

Since JCPenney added Minneapolis-based Peterson Milla Hooks to its agency roster over a month ago, some were wondering where this move would leave Saatchi & Saatchi NY, which has exclusively handled creative duties for the brand for the last five years (who can forget “Beware of the Doghouse”). Well, over the past week, we’ve received a few tips from different sources claiming that the retailer has indeed parted ways with Saatchi and that the parties involved are just keeping things quiet.

We reached out to JCPenney the minute we started hearing these grumblings on Dec. 20, but have yet to hear a peep from the brand or Saatchi for that matter. Well, it is the holidays after all, but considering that JCPenney’s new management brought PMH on board and changed PR agencies in just a month’s time, would a split from Saatchi seem all that shocking? Hopefully we’ll find out whether the relationship’s intact or not as we head into 2012. OK, back to autopilot mode.

Update: Well, they’re keeping quiet no more as a JCPenney spokesperson tells us, “Both jcpenney and Saatchi mutually decided to end our relationship.” According to tipsters, the creative account is worth something to the tune of $400 million, though we’re checking with Penneys on that.

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