Dennis Publishing taps into Indian market with joint venture
LONDON - Dennis Publishing has struck a deal to enter India's burgeoning online and media markets in a joint venture with Media Transasia.
The new company will be unveiled as Dennis Media Transasia India and will look to plant a stake into India's rapidly maturing market of 1.1bn consumers, with offices based in Delhi, Mumbai, Bangalore, Chennai and Kolkata.
Its partner Media Transasia has been active in Asia since 1977, with publishing centres in Bangkok, Hong Kong and New Delhi.
The firm produces more than 25 magazine titles including India Airlines' in-flight magazine Swagat and lifestyle magazines Discover India, Travel + Leisure and Golf Style.
Dennis Publishing will partner its men's sector titles including Maxim, Men's Fitness, car magazine Evo, and men's e-magazine Monkey into the Indian market and will also introduce music magazine Blender to the joint venture.
The first six months of the consolidation will focus largely on the launch of several digital brands. The growth of digital advertising revenue in India is expected to almost double to 7.5bn rupees (£94m) over the next two years.
The long-term aim is for Dennis Media Transasia India to become the largest men's publisher in the subcontinent.
James Tye, CEO of Dennis Publishing, said: "India is the most dynamic media market in the world and is an obvious choice for our global and digital expansion.
"We are both privately owned companies and we share the same philosophy of serving our customers with innovative and outstanding editorial, in print, online and on mobile."
Dennis Publishing licensed its men's mag Maxim to Media Transasia in 2005, which quickly established itself as a benchmark for international magazines in India, selling three times more copies that the indigenous market's leading men's magazine.
In 2006, Conde Nast International launched an Indian version of its flagship fashion magazine Vogue and in April, the firm announced plans to have GQ magazine on shelves in India by October.
Haymarket Media Group has also tapped into the Indian market with its launch of Campaign, What Car? and Autocar in India last year.
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