Emap gives WGSN £5m cash injection
Emap is to invest a further £5m in sales and marketing for its business-to-business fashion analyst service WGSN as part of a focus on increasing its B2B and digital operations.
The business has outperformed Emap's expectations, becoming its biggest
B2B brand with 2,200 subscribers since its acquisition from founders
Marc and Julian Worth in 2005. Emap said from the outset it aimed to
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3%.
In Emap's results for the year to 31 March, announced last week, WGSN
posted proforma revenue growth of 34%. Emap's B2B division, Emap
Communications, now accounts for 32% of the group's revenues and 45% of
profits.
Meanwhile, Alun Cathcart, Emap's chairman and acting chief executive,
told Media Week that he had briefed headhunter Zygos to look to the
media industry for Tom Moloney's successor, but would also consider
"ruthless" managers with no media experience.
Analysis, page 16.
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