After selling a minority stake in books and music retailer Landmark to private equity fund TVS Shriram Growth Fund-I, the Tata Group are stepping up focus on the book publishing business run under Westland, a subsidiary of Landmark.
“We are marketing and distributing almost 100 titles this year, of which about half are licensed titles while the rest are original titles that we are bringing to the market,” said Gautam Padmanabhan, CEO, Westland.
In addition to stabilising the number of titles launched at around 100 a year, the Tata group company is now stepping up focus on marketing, distribution and promotions so as achieve much higher print-runs of each title as well. This will help the firm improve profitability of each title introduced in the market as revenues rise faster than costs. “We will be better focused on promotions with authors to achieve higher print runs after doubling of the number of titles over the previous fiscal year,” said Padmanabhan.
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