Total contract wins in 2018 to date rises to $105 million of
annualized revenue at full run rate
CHICAGO--(BUSINESS WIRE)--Sep. 6, 2018--
InnerWorkings, Inc. (NASDAQ:INWK)
a global leader in marketing execution, announced today that the company
has received significant new work from two of its long-term
clients. These new wins will add approximately $20 million of annualized
revenue for the company at full run rate, bringing the total awarded to
$105 million through the first eight months of 2018.
“We are particularly proud when our clients, who are among the best run
companies in the world, ask us to meaningfully increase our support of
their brands”, said Rich Stoddart, Chief Executive Officer for
InnerWorkings. “There is no better testimonial to the positive impact we
make as we execute their marketing campaigns. Our new bookings thus far
in 2018 are ahead of our pace in the last two years, with half coming
from existing clients expanding their relationship with InnerWorkings.”
One of the new expansions comes from one of the world’s largest
producers in the beer, wine, and spirits vertical, a client that
InnerWorkings has been supporting for more than 10 years. The legacy
solutions primarily involve luxury packaging in Europe and point-of-sale
materials throughout Latin America. The new contract announced today is
for their largest market, the United States, as well as Canada, and
covers a broad range of marketing materials, including point of sale,
value-added packaging, and promotional items. At the heart of the
solution is InnerWorkings’ proprietary VALO software platform, which
will facilitate automated ordering windows allowing for the organized
purchasing of branded materials in bulk for both this client and for
their distributors. The result will be lower costs, greater
transparency, and better adherence to brand standards. InnerWorkings has
already deployed an on-site team and will begin realizing meaningful
revenue under this new contract in the first quarter of 2019.
The other expansion announced today is with one of the world’s leading
manufacturers of consumer goods, specializing in cleaning
products. InnerWorkings has been supporting this client since 2014,
managing promotional items and printed marketing collateral in the
United States and Canada. The new contract expands the relationship to
include permanent retail displays. InnerWorkings’ expertise in creative
and structural design combined with overseas sourcing and logistics
knowledge will help drive incremental sales for this client in the
retail environment while lowering the cost of the displays.
“Our efforts to expand our existing clients with new geographies and
additional categories of marketing spend are paying off for both
InnerWorkings and for our clients”, said David Duysen, Vice President,
Business Development for InnerWorkings. “Meaningful opportunities exist
to further increase our work with both of these two clients beyond these
latest wins, as well as with many other clients in our portfolio.”
For more information about InnerWorkings, visit www.inwk.com.
About InnerWorkings
InnerWorkings, Inc. (NASDAQ: INWK) is the leading global marketing
execution firm serving Fortune 1000 brands across a wide range of
industries. As a comprehensive outsourced enterprise solution, the
Company leverages proprietary technology, an extensive supplier network
and deep domain expertise to streamline the production of branded
materials and retail experiences across geographies and formats.
InnerWorkings is headquartered in Chicago, IL and employs 2,100
individuals to support global clients in the execution of multi-faceted
brand campaigns in every major market around the world. Among the many
industries InnerWorkings serves are: retail, financial services,
hospitality, consumer packaged goods, not-for-profits, healthcare, food
& beverage, broadcasting & cable, automotive, and transportation. For
more information visit: www.inwk.com.
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Source: InnerWorkings, Inc.
InnerWorkings, Inc.
Bridget Freas
312-589-5613
bfreas@inwk.com
