Quality lifestyle publication to fill void in booming luxury market
Concept Media, a full service publishing and media solutions provider, has acquired the rights to produce a GCC and Indian edition of the Millionaire magazine - which will be linked with the Netherlands-based 'Miljonair' lifestyle publication - one of the most widely read in Europe.
Replacing 'Arab Millionaire' magazine, the new-look Millionaire is shortly to be launched in the region with the best in lifestyle content. The 200-page magazine will cover topics from shopping, events and fashion to people in business and health.
"The addition of Millionaire is yet another success for Concept Media's expanding publications portfolio. It will deliver an additional dimension to our existing publications stable of RetailME, Invest and Live in Dubai, Emirates Business Pages and the Dubai Health Directory. We are focusing on filling the void in the overcrowded publishing industry by supplying quality niche products, whilst also concentrating substantial effort and investment into becoming a leading media powerhouse in the Middle East. With new publications planned I am confident we will continue to succeed in realising this objective," said Aldrin Fernandes, CEO, Concept Group.
According to the recent Merrill Lynch World Wealth Report, the Middle East has experienced a dramatic increase in its high net worth population, with wealth creation in the UAE alone being driven by an average GDP growth of 6.7%.
"The region's booming economy has dramatically upscaled demand for luxury goods. Apart from information on how to maximise their wealth, millionaires also want to know about the latest cars, yachts, fashion, events, techno gadgets, art, exclusive holidays and real estate and where to source them. We wanted to seize the opportunity to provide the Middle East market with quality lifestyle information and news, which is why we decided to take over the existing Arab Millionaire magazine as it has a fair presence in the region.
"With 300,000 millionaires in the Middle East with a combined wealth of US $1.2 trillion, it is easy to see why a magazine targeted at this high net worth audience should service this market," added Fernandes.
Concept Media aims to have the first edition of the bi-monthly English magazine ready for circulation this month with a readership based on controlled distribution to exclusive millionaire mailing lists and on a subscription basis only.
"I wanted the Arab Millionaire legacy to continue with a dynamic and respected media provider who could drive the brand forward within the region. Concept Media, which already has a reputable archive of publications, is perfect for the role of supplying a quality lifestyle magazine. With so many people wanting upscale lifestyle products and services this publication with its new alliances and content will fill a gap in the market," commented Ross Deas, publisher and CEO of the Millionaire Media and Ecom Group, UK Ltd and former owner of the Arab and Indian Millionaire titles.
Concept Media is part of the Concept Group, a leading provider of integrated marketing and media solutions.
Concept Media is currently on an aggressive expansion plan, and has already acquired exclusive governmental publications such as Emirates Business Pages, The Investor's Guide to the UAE and the Dubai Health Directory for the Department of Health and Medical Services.
-Ends-
Concept Media, an established publishing house, offers a variety of publications from diverse industry segments that address the region's evolving business and community needs.
Based in Dubai Media City, Concept Media is a member of the Concept Group a provider of integrated marketing communications.
For further information please contact:
Charles Akielan
MCS Action
Tel: 04 3903960
charles.a@actionprgroup.com
Nilanjana Ghosh
Concept Group
Tel: 04 3903128
nilanjana@conceptgroup.ae
© Press Release 2006
