Initiative won the IKEA account after a competitive pitch against the incumbent Starcom, OMD and Carat.
Initiative Greece has started to prepare seasonal sales campaigns for IKEA and is working with the company on their communications plan for 2011.
Within the past 12 months, Initiative has also won the IKEA media accounts in Italy and Belgium. IKEA currently has stores in 25 European countries as well as in the US, Canada, the Middle East, Asia Pacific and the Caribbean.
Mario Mateus, president, Europe Middle East and Africa, at Initiative, said: "We are absolutely delighted to be working with IKEA in Greece, enhancing our relationship with IKEA in the region. This win is testament to Initiative’s performance-led approach to media communications which will enable us to deliver innovation, media excellence and best results for IKEA."
In the UK, IKEA appointed Aegis-owned Vizeum to its £10 million business last year after a final contest against the incumbent, WPP's MediaCom.