Two partners for a menage à trois
Ringier Women's Magazines has acquired the luxury magazine Bolero. It is set to collaborate with Edelweiss. A merger is already on the horizon, though still a long way off.
Women's magazines Ringier has bought the luxury magazine Bolero. It is to work together with Edelweiss. A merger is already on the distant horizon, and Bolero has found its ideal partner in Ringier. So says Sithara Atasoy, editor-in-chief of the luxury magazine and until recently also its co-owner. In the summer, the Bolero magazine publisher started looking for a buyer. "After eight years as an independent small publisher, we wanted to go one step further," explains Atasoy. Of the possible scenarios of investing ourselves, selling part or all of the company, we opted for the latter. The shareholders - including Goldbach Media boss Beat Curti and TV favorite Kurt Aeschbacher - would have had money available. Nevertheless, independence would still have meant restrictions. "Ringier offers us more opportunities in marketing and retail sales," says Atasoy. "Previously, for example, we could hardly do any advertising. We had to do everything with our own hands."
A look at the current Wemf statistics shows that Bolero could use some help: in 2002, the magazine lost 17 percent of its circulation. Of 40000 printed copies, 22473 are still being sold. The magazine is also feeling the effects of subdued consumer sentiment - especially in Germany and Italy, where important advertising customers from the luxury goods industry are based. According to Atasoy, Bolero will be around ten percent under budget by the end of the year.
Expansion of the line extensions
But it is not only the difficult economic situation that has led Bolero to look for a bride and ultimately to marry the Ringier Group. Ambition also plays a role. "We want to strengthen and expand Bolero," emphasizes the Editor-in-Chief. In the current year, the publishing house has implemented a series of line extensions: Bolero Men for the target group of fashion-conscious men, Blush as a magazine for aesthetics and Sign for living and design. These titles are currently published as special issues - but the publisher was already flirting with a regular publication rhythm when they were launched. A plan that was difficult to realize with the available funds.
Optimal addition for Ringier
It remains to be seen how much "budget money" Ringier will use to finance Bolero's expansion. Group spokeswoman Eva Keller is keeping her cards close to her chest. Ringier stands behind the line extensions of Bolero and the publisher's other activities, she says. Everything else is currently being clarified, including synergies between Bolero and Ringier's women's magazine Edelweiss (see box). All possibilities are being examined, says Keller. The aim is to achieve "very close cooperation", for example in the editorial area. However, she did not rule out a merger of the two titles. In any case, Bolero, which focuses on fashion and lifestyle, is an ideal complement to the more broadly themed Edelweiss. "We are ideal partners," says Keller.
Sithara Atasoy was unable to comment on a merger of Bolero and Edelweiss. Edelweiss is aimed at a different audience. Bolero will be expanded in its own (luxury) segment, in which Ringier has not been active to date. "I think Ringier is looking forward to our know-how," said the editor-in-chief.
Questionable profitability
However, media specialists are skeptical as to whether Ringier will really run both titles in parallel. "I think it will end in a merger," says Peter Döbeli from Konnex. Even if the publications are different, two separate magazines would probably not be profitable. In the event of a merger, Döbeli sees Bolero in the stronger position in terms of content.
For Urs Schneider from Mediaschneider, however, the small number of female readers is Bolero's handicap. "The title has simply not been able to establish itself on the market so far." For Schneider, there is still room for women's magazines in German-speaking Switzerland on the magazine market. However, the publisher could not produce the same magazine twice, as this would not be economically justifiable. "A merger of Edelweiss and Bolero must happen," Schneider is convinced.
Edelweiss and Bolero will work closely together, but the synergy potential has not yet been defined: Bolero will come into the hands of Ringier at the end of the year.
Slowly growing EdelweissIn French-speaking Switzerland, Ringier launched the women's magazine Edelweiss in October 1998. The magazine was able to establish itself alongside the Edipresse title
Femina and the Femme profile launched at the same time. Ringier therefore ventured across the language border this February with Edelweiss. The Swiss-German edition is produced in close cooperation with the editorial team in French-speaking Switzerland, and a large proportion of the articles are translated from French. The initial print run amounted to 70,000 copies. According to Ringier spokeswoman Eva Keller, Edelweiss is developing well. Advertising sales are above plan and good results have also been achieved in the reader market. "But we are not yet where we want to be," says Keller. (sm)
Stefano Monachesi
A look at the current Wemf statistics shows that Bolero could use some help: in 2002, the magazine lost 17 percent of its circulation. Of 40000 printed copies, 22473 are still being sold. The magazine is also feeling the effects of subdued consumer sentiment - especially in Germany and Italy, where important advertising customers from the luxury goods industry are based. According to Atasoy, Bolero will be around ten percent under budget by the end of the year.
Expansion of the line extensions
But it is not only the difficult economic situation that has led Bolero to look for a bride and ultimately to marry the Ringier Group. Ambition also plays a role. "We want to strengthen and expand Bolero," emphasizes the Editor-in-Chief. In the current year, the publishing house has implemented a series of line extensions: Bolero Men for the target group of fashion-conscious men, Blush as a magazine for aesthetics and Sign for living and design. These titles are currently published as special issues - but the publisher was already flirting with a regular publication rhythm when they were launched. A plan that was difficult to realize with the available funds.
Optimal addition for Ringier
It remains to be seen how much "budget money" Ringier will use to finance Bolero's expansion. Group spokeswoman Eva Keller is keeping her cards close to her chest. Ringier stands behind the line extensions of Bolero and the publisher's other activities, she says. Everything else is currently being clarified, including synergies between Bolero and Ringier's women's magazine Edelweiss (see box). All possibilities are being examined, says Keller. The aim is to achieve "very close cooperation", for example in the editorial area. However, she did not rule out a merger of the two titles. In any case, Bolero, which focuses on fashion and lifestyle, is an ideal complement to the more broadly themed Edelweiss. "We are ideal partners," says Keller.
Sithara Atasoy was unable to comment on a merger of Bolero and Edelweiss. Edelweiss is aimed at a different audience. Bolero will be expanded in its own (luxury) segment, in which Ringier has not been active to date. "I think Ringier is looking forward to our know-how," said the editor-in-chief.
Questionable profitability
However, media specialists are skeptical as to whether Ringier will really run both titles in parallel. "I think it will end in a merger," says Peter Döbeli from Konnex. Even if the publications are different, two separate magazines would probably not be profitable. In the event of a merger, Döbeli sees Bolero in the stronger position in terms of content.
For Urs Schneider from Mediaschneider, however, the small number of female readers is Bolero's handicap. "The title has simply not been able to establish itself on the market so far." For Schneider, there is still room for women's magazines in German-speaking Switzerland on the magazine market. However, the publisher could not produce the same magazine twice, as this would not be economically justifiable. "A merger of Edelweiss and Bolero must happen," Schneider is convinced.
Edelweiss and Bolero will work closely together, but the synergy potential has not yet been defined: Bolero will come into the hands of Ringier at the end of the year.
Slowly growing EdelweissIn French-speaking Switzerland, Ringier launched the women's magazine Edelweiss in October 1998. The magazine was able to establish itself alongside the Edipresse title
Femina and the Femme profile launched at the same time. Ringier therefore ventured across the language border this February with Edelweiss. The Swiss-German edition is produced in close cooperation with the editorial team in French-speaking Switzerland, and a large proportion of the articles are translated from French. The initial print run amounted to 70,000 copies. According to Ringier spokeswoman Eva Keller, Edelweiss is developing well. Advertising sales are above plan and good results have also been achieved in the reader market. "But we are not yet where we want to be," says Keller. (sm)
Stefano Monachesi
