Hubert Burda Media, a Burda International subsidiary incorporated in November 2011, has received the Foreign Investment Promotion Board (FIPB) go ahead for 100 per cent acquisition of equity shares of Exposure Media Marketing (EMM), a company founded in 2003 by Rajiv and Parineeta Sethi.
Hubert Burda Media has had a presence with direct investments in India since 2008. Burda has plans to invest around Rs 150 crore in the next few years to strengthen its position in the Indian market in the fields of printing and special interest magazine media.
EMM publishes the Indian editions of ‘AsiaSpa’, ‘Millionaire Asia’, ‘Asia-Pacific Boating’, ‘Selling World Travel’, ‘Designer Mode’ and ‘Audi’ magazines. It also hosts a range of key events and trade fairs, including the Millionaire Summit, Precious Golf and the AsiaSpa Wellness and Beauty Exhibition.
“EMM is a perfect platform through which to expand our activities in the important and dynamic Indian market. According to the World Wealth Report, India experienced a 22.2 per cent growth in its high net worth individuals’ (HNI) population last year. This surge is creating a market with increasingly sophisticated tastes, hungry for luxury experiences,” observed Burda Asia CEO Julie Sherborn. “EMM has a compelling portfolio, offering an exciting range of specialised brands targeting this growing segment. The acquisition conforms perfectly with our strategic focus in the pan-Asian region.”
Massimo Monti, Managing Director, Hubert Burda Media India added here, “One of the main strengths of EMM is the company’s database of affluent, influential individuals, constituting a very desirable target group for luxury advertisers. We are delighted that Parineeta Sethi will continue to work with the company as a member of the board of directors and will help further develop our magazine and event portfolio.”
“Our aim, when we started the company 10 years ago, was to identify key audiences and develop trusted brands to service those segments,” said Parineeta Sethi, adding, “We are delighted to be joining the Burda International media group, through which we can drive the brands to even greater effectiveness.”
Burda International GmbH is active in 17 markets and currently publishes over 230 magazines as well as a large number of digital media services.