Saatchi & Saatchi Advertising Worldwide Inc history

Saatchi & Saatchi has grown from a start-up advertising agency in London in 1970 to a global creative communications company with 114 offices in 67 countries and over 6500 employees.

By 1972, the company had profits of £90,000; the following year, profits were up to £100,000.

In 1973, Saatchi & Saatchi made its first ad agency acquisitions.

By 1975, acquisitions and expanded assignments from existing accounts led to profits of £400,000.

The most important opportunity for Charles and Maurice, however, came in 1976 when they merged with the old and well established Compton agency of London.

In 1978 Saatchi & Saatchi began work on a campaign for Margaret Thatcher that would enhance their reputation as a hothouse for creative ideas.

By the end of 1979 it was the number one agency in Britain; two years later it was the largest agency in Europe.

Throughout the 1980’s the advertising industry has been experiencing a fundamental change in its structure.

In 1982 Saatchi & Saatchi bought Compton Advertising outright for $57 million, $29 million up front and $28 million to be paid over the next ten years.

To increase its financial resources for expansion, Saatchi & Saatchi offered public over-the-counter stock in the United States for the first time in 1983.

In 1984 they purchased two market research companies, McBer & Company and Yankelovich, Skelly & White.

In 1985 he opened the Saatchi Gallery in London.

By 1986 the company—which became part of a larger conglomerate—was considered to be the largest advertising firm in the world, with offices throughout the world.

In mid-1987, after months of wrangling, Ted Bates Worldwide merged with Backer & Spielvogel to form Backer Spielvogel Bates.

Although profits rose again in 1988, the company's financial troubles were coming to a head.

1989: Profits fall for the first time in 19 years.

1990: Robert Louis-Dreyfus is appointed chief executive officer.

In 1991 Louis-Dreyfus orchestrated a financial restructuring that included a new stock issuance and extensions on its loans.

1995: Ccompany board dismisses founder Maurice Saatchi as chairman, Charles Saatchi steps down as president-for-life, and several key executives resign in protest; holding company renames itself Cordiant, although it retains the Saatchi & Saatchi name for its advertising subsidiary.

Gross Billings: $7 billion (2000 est.)

In 2019 the Saatchi Gallery registered as a nonprofit organization.

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