By Vipin Agnihotri
Vogue, widely been regarded as the fashion bible of the world is all set to arrive in India. Taking into account the fact that Indians have woefully inadequate knowledge of fashion world, Vogue main objective is to bring India in-step with the rest of the world.
In my opinion, what prompted this good-natured gesture of philanthropy are the tonnes of money, which Vogue is expecting to make in the bargain. It is worth mentioning in this regard that India is the second biggest market for print media in the world in terms of sheer volume.
According to one estimate, India has 200 million magazine readers with a daily sale of 79 million newspapers. What’s more, there are some reports in the Indian media that print advertising revenue has already touched $ 1.5 billion. If experts are to be believed, this is just the beginning.
Point to be noted here is that sales is declining in western market with television and Internet taking an even bigger bite out of their profits. Therefore, these magazines have been left with little choice but to seek out new avenues.
With the loosening of restrictions on the entry of foreign media, lots of popular brands have decided to chance their arm in the Indian market, with Vogue being the latest in the long list, which includes the likes of Maxim, Autocar and Marie Claire.
Most of these magazines are inspired by the success of Cosmopolitan, launched almost ten years ago and earning about Rs 15 crores yearly in advertising. Vogue is hoping to emulate Cosmo’s success and is banking heavily on booming Indian economy. Generally speaking, India has 17 magazine titles cornering about 80 per cent of the advertising revenue as compared to 3,000 magazine titles in the United States.
Well, whatever be the case one thing is for sure consumers are not going to complain about the choice of magazines available.
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