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MUMBAI: Hubert Burda Media Pvt Ltd., a Burda International subsidiary incorporated in November 2011, received authorization from the FIPB (Foreign Investment Promotion Board) of India for its acquisition of 100% of the equity shares of Exposure Media Marketing Pvt. Ltd., 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 currently has plans to invest around 150 crores (1.500.000.000 INR) in the next years to strengthen it?s position on the Indian market in the fields of printing and special interest magazine media. India plays a key role in the international expansion strategy of Burda, due to the promising development of the dynamic local marketplace.
"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 percent growth in its High Net Worth Individuals? population last year. This surge is creat-ing a market with increasingly sophisticated tastes, hungry for luxury experiences", says 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."
Added Massimo Monti, Managing Director of Hubert Burda Media India: "One of the main strengths of EMM is the company?s database of affluent, influential individuals, con-stituting 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".
EMM publishes the Indian editions of AsiaSpa, Millionaire Asia, Asia-Pacific Boating, Selling World Travel, Designer Mode and Audi magazine. It also hosts a range of key events and trade fairs, including the Millionaire Summit, Precious Golf and the AsiaSpa Wellness and Beauty Exhibition.
"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. "We are delight-ed to be joining the Burda International media group through which we can drive the brands to even greater effectiveness."
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