Propaganda founder and executive chairman, Julian Kynaston, who recently sold 70 per cent of his agency to management, has announced he is to launch a new cosmetics brand.
The operation will draw on the experience he gleaned through helping to build up haircare brand ghd. Named Illamasqua, the new brand will specialise in professional standard make-up, and will launch in the middle of next year.
The brand has secured £3million worth of investment to see it through its first 12 months. Kynaston – who was paid around £5million cash for his stake in Propaganda – has put in £1million. His partners in the project include former ghd directors Robert Powls and Gary Douglas as well as Nick Brown, the owner of another Propaganda client FMG Support.
Jemella, the parent company of ghd, was a client of Propaganda’s and Kynaston a board director until a fall out last year over future strategy. The business has since moved to BDH/TBWA, however Kynaston says his brand will now replace ghd at the Leeds-based agency.
He told The Drum: “While Illamasqua is a separate business, it is also by default a major client to the agency. And while the resignation of ghd was not in anyway influenced by Illamasqua, it has filled it void financially and creatively within Propaganda.”
Meanwhile, Kynaston, said he was motivated to close the agency’s consumer PR division – Revolver - partly because of a market failure within the sector.
“Consumer PR is fucked,” he said. “The people and clients who deal in consumer PR are the lowest of the low in marketing departments. They are lining up people who will freely pitch for a £15,000 fee.
“Consumer PR has a role. But because of the way marketing teams want to buy consumer PR it is not fir us.”
A full interview with Julian Kynaston appears on page 12.