Bloomsbury Publishing today announces that
it is setting up a new business in India.
Among the fastest growing economies in the
world, and with a rapidly increasing population where 50 million buy English
books every year, India is an excellent market for the expanding and diverse
product range of Bloomsbury. It is also steadily becoming an important source
of authorship and will be a significant future ebooks market.
Bloomsbury has already been operating in
India for 25 years with a long standing marketing and distribution partnership
with Penguin. The Group now plans to grow its presence in India by setting up a
wholly owned business. This is in line with the Group’s strategy to globalise
and further diversify, and follows the success of the recent licensing deal for
the Wisden brand in India. Bloomsbury will focus in India on exploiting the
exciting growth opportunities the country offers, leveraging the strength of
the Group’s large range, and also developing Indian authorship and publishing
programmes. The timing is good with the Indian retail chain footprint
increasing rapidly, growth of on-line retailers and the country’s significant
future ebook readership.
For Bloomsbury it is important that this
key initiative is led by a trusted, experienced and respected leader. The
Indian company will be led by Rajiv Beri, a highly-regarded publishing
professional who has been Managing Director of Macmillan’s Indian operations
for over 15 years. The company will be based in Delhi and is expected to be
operational by May 2012.
Nigel Newton, Chief
Executive, commented:
“We are hugely enthusiastic about this new
venture and are looking forward to building our presence in this growing
market.”
No comments:
Post a Comment