BLOOMSBURY PLANS PUSH INTO INDIA
HARRY Potter publisher Bloomsbury announced yesterday it is planning to open a dedicated India business to take advantage of the 50m people in the emerging economy buying English books every year. Bloomsbury has already been operating in India for 25 years through a marketing and distribution partnership with Penguin.
“We are hugely enthusiastic about this new venture and are looking forward to building our presence in this growing market,” said Bloomsbury chief executive Nigel Newton. The new Indian company will be led by Rajiv Beri, who has worked for publisher Macmillan in India for more than 15 years.
Shares in Bloomsbury gained almost two per cent after the announcement yesterday, but settled over the day to close 0.4 per cent up at 124.5p.