Reworld Media to acquire Grazia from Mondadori group
Reworld Media is further strengthening its fashion division. The company already operates Grazia in France, but through an agreement signed with the Mondadori group, it is getting ready to acquire Grazia, a women's lifestyle magazine, and Icon, a men's magazine, on a global scale.
The transaction was reported to be worth around 6.5 million euros, while Grazia is currently present in 21 countries, where it operates with licensees, such as in China, the United States, Latin America, Australia and Germany. Depending on 2023 performance, an additional 2 million euros could be added to the total acquisition price.
In a press release, Reworld said that the company being taken over had a turnover of 18 million euros in 2021. It stated that it wanted to "apply its recognised know-how to the international market". Icon, and especially Grazia, should therefore, enable Reworld Media to expand into new markets.
"This acquisition would mark a decisive turning point in the execution of our international development strategy," said Gautier Normand, Reworld Media managing director. "Reworld Media would further solidify its distinctive positioning through its 80 proprietary brands, its expertise and its innovation capabilities. It is an ambitious vision that we want for our group. Building on the success of our strategy in France and our observation of global markets, we believe that rolling out this strategy on an international scale would be a real growth opportunity for the group, starting with one of the most influential media names in the world," he continued.
The Reworld Media group operates media in both print and digital formats, as well as in audio and video. It also runs a business-to-business company with brand marketing solutions for companies. Founded in 2012, the company claims to have achieved an annual turnover of almost 470 million euros in 2021 with a presence in 1,150 countries.
Copyright © 2023 FashionNetwork.com All rights reserved.