SCMP Group Ltd (SEHK:583) and Hearst Magazines International, a unit of Hearst Corporation, today announced the formation of joint venture company, SCMP Hearst Hong Kong Ltd to publish ELLE and related titles, its website, the Car and Driver website, as well as taking on further contract publishing business from 3rd July 2012.
This move further reinforces the longstanding relationship SCMP Group Ltd has with its joint venture partner Hearst Corporation. The two companies began their publishing venture in Hong Kong with the launch of the Hong Kong edition of Cosmopolitan in 1984, followed by Harper’s Bazaar in 1988, and CosmoGIRL! in 2001. The three titles have now become Hong Kong’s leading women’s magazines in respective market segments.
ELLE, a brand owned by Lagardere Active, is the world’s largest fashion magazine brand with 43 international editions reaching over 21 million people across the globe from the UK to the USA, Europe to Africa, South America, Russia, Asia and the Middle East.
Adding ELLE to its magazine portfolio ensures that SCMP Hearst will cement its position as the premier publisher of quality international lifestyle publications in Hong Kong.
Duncan Edwards, president and CEO of Hearst Magazines International, said, “Through our partnership with SCMP, we are already publishing a very successful edition of Cosmopolitan and we’re confident that this move will take ELLE in Hong Kong to even greater success than before.”
Josephine Chan, director for SCMP Magazines Publishing Ltd added, “It’s a very natural fit for us to welcome ELLE into our portfolio of magazine titles. We’ve enjoyed a great partnership with Hearst over the years, and our existing titles continue to grow from strength to strength, both in print and digital. We have a dedicated team that knows the fashion, beauty and style market in Hong Kong better than anyone, and they’re all excited to be able to both leverage and grow their expertise with ELLE.”
Sources: Hearst, SCMP (18/06/2012)