Edipresse India , a joint venture between luxury lifestyle media group Edipresse Asia Ltd and Marzban Patel of Mediascope, has announced that the it will launch first print product by the end of 2009. The JV is part of Edipresse Asia’s strategy to expand its leadership position in the luxury media segment in Asia.Edipresse India had announced the formation of a publishing company which will publish luxury and lifestyle magazines .
“Yes it would. In fact, it will produce international quality products that reach a certain section of the audience. I have already established an advertising sales force, so naturally it adds to our revenue. For Edipresse, it means cost saving, and for us it is revenue generation, so the fit is absolutely perfect,” Marzban Patel, Chairman, Mediascope Group said .
Marzban Patel hoped that Edipresse products will brave the global financial meltdown as Edipresse is in a niche business.
“On the international side, we would not see an immediate change. We will still see growth in our business and our niche media business will also grow in terms of revenue, product and profit building .We are entering in the business when there is absolute slowdown, fully aware that there is a slowdown, with our eyes wide open, and I believe the only way the market can go from here is up. Nobody has given up on India as it is a growth market and the market of the future.Our international business has not been affected, so we will close 2008-09 as planned. However, our domestic business has been affected, but because we are in a niche business, the impact has not been as severe as other markets. We are in investment mode, but we have not touched the revenue that we had hoped we would,” Marzban Patel said.
All the ad sales for the magazines will be handled by Mediascope Publicitas and the magazines will be printed in India. The aim is to cover every single area in the lifestyle and luxury segment. 50-60 per cent of the content will be Indian and therefore, they will be recruiting a lot of people in India across editorial, production, design, style, etc.
Edipresse will also be looking into the convergence model, giving the reader and the advertiser an opportunity to get together, be it print, digital or event. This would allow a reader of this product to access information in various ways in this genre. Even an advertiser would have the opportunity to interact with the potential buyer in all of these mediums.
Edipresse is a Swiss based publicly listed international media and communication group active in 18 countries. With a portfolio of over 160 titles, employing more than 3500 people world wide, Edipresse has also been expanding aggressively into digital media.
Edipresse entered the Asian market in 2005 through the acquisition of the publishing group Communication Management Limited (CML) in Hong Kong. The core assets of CML include the highly successful “Asian” Tatlers in Hong Kong, Shanghai, Beijing, Singapore, Malaysia, Thailand and the Philippines. It also oversees licensed editions of the Korean and Indonesian Tatlers.
The company additionally publishes Hong Kong Business and Home Journal, as well as various regional editions of Couture, Men Mode, Society, the Best Restaurants Guides and strong portfolio of associated lifestyle products.