The three largest agency holding companies recently pitched for Invisalign, which risks losing market share to startups including SmileDirectClub.
Invisalign has dominated the rapidly-growing clear braces market, with 2018 revenues up 29.4% to $1.7 billion, but it faces competition from DTC rivals like SmileDirectClub.To maintain its status in the market, Invisalign plans to boost ad spend across platforms to target an audience beyond orthodontists and parents of teenagers.
That competition has come from companies like SmileDirectClub, a five-year-old Nashville-based startup that allows customers to skip the doctor's office and buy aligners straight from its own website or nearly 400 retail locations, which this week went public at a valuation of $8.9 billion.
Prior to the review, WPP's Wavemaker and MDC Partners' Colle and McVoy handled ad buying and creative duties for Invisalign, respectively. The latter agency was not involved in the review and will end its four-year relationship with the brand by the end of the year. "Invisalign treatment is the most advanced clear aligner system in the world and backed by more than 22 years and over $1 billion investment in technology and R&D," read a statement from an Align Technology representative who said the company no longer holds any interest in its rival.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European regulators say they'll test the fixed 737 Max themselves, rather than trusting the FAA's findingsGlobal regulators usually defer to the agency from the plane-maker's home country, but the European agency is conducting its own 737 Max review.
Read more »
SmileDirectClub falls 11% in U.S. market debutShares of SmileDirectClub , a teeth alignment company, tumbled 10.7% in their ma...
Read more »
SmileDirectClub begins trading at the Nasdaq at $20.55The 'Squawk Allley' team discusses the first trade of SmileDirectClub, which opened trading at $20.55 a share.
Read more »
SmileDirectClub is set to starting trading Thursday after raising $1.3 billion billion in its IPOSmileDirectClub's offering is part of a wave of digital health companies entering the public markets after a three-year drought.
Read more »
SmileDirectClub Plunges 28% on First Day of TradingTeeth-straightening startup SmileDirectClub plunged 28% on its first day of trading, marking the year’s worst stock-market debut for a U.S. company valued at over $1 billion
Read more »
Rihanna's new lingerie line being hailed as the new Victoria's SecretRihanna applauded for body-positive runway show: ‘I don’t care about any skinny Victoria’s Secret model’
Read more »