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SPH Magazines Buys Slice Of Luxury Publishing Firm (ST)

BackOct 12, 2010

THE magazines division of Singapore Press Holdings (SPH) has bought a $500,000 stake in a company that produces publications targeted at the region's wealthy.

The deal involves SPH Magazines acquiring 34 per cent of Antarctica Interactive, the holding company of the Luxury Insider Group.

Luxury Insider Group, which was founded in 2006, owns online and print publications with offices in Singapore, Hong Kong and Shanghai.

It runs English online publication Luxury-Insider.com, and Inluxe.cn for its Chinese readership.

The group also produces the print publication Baccarat Magazine in Hong Kong.

Its publications cover various luxury lifestyle subjects including travel, property, cars, yachts, art, high-end retail and couture.

The group is also the contract publisher for Citibank's Ultima Magazine, which is circulated to the bank's ultra- high net worth clients.

SPH Magazines said in a statement yesterday that Luxury Insider Group's expansion plans will be helped through its association with SPH's sales and distribution network.

The deal will also allow the SPH unit to strengthen its online offerings for well-heeled readers in the region, it added.

SPH Magazines, which publishes Her World, Female, The Peak, and Home and Decor among others, has a presence in China, Hong Kong, India, Indonesia, Thailand, Malaysia, the Philippines and Vietnam.

Luxury Insider Group's founder and chief executive, Mr Julien Peh, said in yesterday's statement that he looked forward to SPH Magazines' participation in the group's expansion plan.

'Many joint initiatives are in the pipeline and I am certain that the combination of SPH Magazines' publishing expertise and our online know-how will result in more powerful marketing solutions for our luxury clients and advertisers,' he added.

SPH Magazines chief executive Loh Yew Seng described the Luxury Insider Group as a dynamic media team with a fiercely entrepreneurial spirit.

'This investment complements SPH Magazines' strategy to strengthen our online offerings,' he said.

'I'm confident the synergies garnered through this partnership will add value to both readers and advertisers.'