SINGAPORE - Singapore Press Holdings (SPH) yesterday announced that its subsidiary SPH Magazines has acquired Asia's leading online luxury publication, Luxury-Insider.com, from WhiteWave Media Group (WWMG).
Luxury-Insider.com, launched in 2006 by Julian Peh, CEO of WWMG, a regional luxury media group, was Asia's first completely digital luxury publication.
Since then, it has grown into one of Asia's largest websites with a focus on affluent audiences.
Besides being ranked as one of Singapore's top online magazines, it enjoys a leading market share in digital advertising among major global luxury brands.
It was also voted as the No 1 Luxury Website by marketers in both Singapore and Hong Kong at 2013's Marketing Magazine's Digital Media of the Year Awards.
SPH Magazines, which is already a leading publisher in the region with titles such as Her World, Cosmopolitan and Female under its belt, hopes to better capture and engage more affluent readers and luxury brands with this move.
Loh Yew Seng, CEO of SPH Magazines, said of the decision: "The acquisition will give us a strong foothold in the online luxury vertical space and complement our existing offerings focusing on IT and women's interests.
"Luxury-Insider.com will also serve as a major gateway for our luxury titles to target and engage readers and advertisers across the region."
This article was first published on September 10, 2014.
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