Forbes India has successfully completed three years of its existence in the country. The magazine was launched in 2009.
Talking to exchange4media, Gurmeet Singh, CEO, Forbes India said, “There was no magazine for business leaders and entrepreneurs that would give them access to Indian and global news they want to read. Forbes India has changed that. It gives them global stories with the Indian lens and vice versa.”
“Today we are India’s leading magazine in influence and circulation revenues in the business genre,” he added.
To mark the three years, Forbes India has planned a 360-degree promotion in which various contests and discounts are being offered. The magazine is already promoting itself on TV channel, CNBC TV18.
With a fortnightly circulation of 75,000, Forbes India plans to launch iPad and mobile apps for the magazine as they are already present on the web and social networking sites.
While talking to Indrajit Gupta, Editor, Forbes India on how the magazine has managed to retain its success in a market with many Indian business magazines, he said, “We had entered the market during the global crisis. At that time this space was very tiring. We started rebuilding the category and as we were swimming against the tide, we found what reader’s want. This led us to establish our magazine in the market.”
With regards to the focus of the content of the magazine, about 70 to 80 per cent is based on Indian perspective and remaining is from across the globe.
When asked how Forbes is different from Fortune since both titles have strong brand salience, he explained, “Both are very strong brands and are competing at the same level. But we have managed to establish a strong identity.”
Our typical marketing budget is usually 10 per cent of the topline spend