Reworld Media set to acquire fashion publication Grazia

Reworld Media has announced its intention to acquire fashion media publication Grazia and its sister company Icon brands from the Mondadori Group.

The cost of the acquisition would be around 6.5 million euros, with a possible added price of two million euros depending on 2023 performance, and will include the publication’s media activities in Italy, both print and digital.

The group already operates licensees with around 30 media outlets throughout the world, with it noting in a release that its takeover scope generated revenue of around 18 million euros in 2021.

This new acquisition comes as part of Reworld Media’s international development strategy, through which it is looking to build on the success of its France-based brands via a digital ecosystem and apply its expertise to the two new brands.

“Reworld Media would further consolidate its distinctive positioning through its 80 proprietary brands, its expertise and its capacity for innovation,” said Gautier Normand, managing director of the group.

He continued: “It is an ambitious vision that we want for our group. Driven by the success of our strategy carried out in France and the observation of world markets, we are convinced that deploying it on an international scale would be a real growth opportunity for the group, starting with one of the most influential brands in the world.”