In the past, REI has collaborated with Edelman for its high-profile Black Friday OptOutside campaign, which received numerous industry awards, including SABREs and a Cannes Lions Grand Prix in 2016. The campaign encouraged employees and customers to spend Black Friday outdoors rather than shopping, by closing its stores for the day. Despite repeated requests for comment, REI has not responded to inquiries about the PR review.
The decision for the PR review comes after a challenging year for REI in 2023, where the company experienced a 2.4% decrease in revenue, amounting to $311 million and resulting in several rounds of layoffs that cost hundreds of employees their jobs. In a letter to employees in January, president and CEO Eric Artz mentioned that he anticipates continued challenging conditions throughout 2024.
Established in 1938 by a group of climbers, REI has grown to employ over 16,000 individuals and operate 181 locations across the US. The retailer functions as a retail cooperative, owned collectively by its 23 million members. The company initiated a comprehensive review earlier this year, with more than a dozen agencies participating in the initial round. Sources indicate that REI aims to select an agency by mid-2024 to handle US national brand awareness and earned media work, with the contract estimated to be valued between $10 million and $14 million.
