SPH Magazines Pte Ltd (SPH Magazines), a wholly-owned subsidiary of leading media group Singapore Press Holdings Limited (SPH), has announced that it has acquired 34% of Antarctica Interactive Private Limited, the holding company of the Luxury Insider Group.

The Luxury Insider Group is an integrated luxury media company which owns online publications Luxury-Insider.com, Inluxe.cn, as well as the luxury print magazine BACCARAT Magazine in Hong Kong.

The Group is also the contract publisher for Citibank for the latter’s Ultima Magazine, a controlled circulation title for ultra high net worth individuals.

The Group has offices in Singapore, Hong Kong and Shanghai.

With online ad spend increasing year on year, this partnership will accelerate the Luxury Insider Group’s expansion plans through SPH Magazines’ extensive sales and distribution network, while strengthening SPH Magazine’s online offerings in the luxury space in the region.

Commenting on the investment by SPH Magazines, Mr Julian Peh, Founder and Chief Executive Officer of the Luxury Insider Group, said: “We are delighted to welcome SPH Magazines as a shareholder and strategic partner in our business.

"SPH Magazines and its subsidiaries own and publish leading luxury magazines in China and the Asia-Pacific region, and I look forward to their active participation in our planned expansion, particularly in 2nd and 3rd tier cities in China."

"Many joint initiatives are in the pipeline, and I am certain that the combination of SPH Magazines’ publishing expertise and our online know-how will result in more powerful marketing solutions for our luxury clients and advertisers,” Mr Peh added.

Mr Loh Yew Seng, Chief Executive Officer of SPH Magazines, said: “The Luxury Insider Group is a dynamic media team with a fiercely entrepreneurial spirit.

"Under Julian's leadership, the Group has developed the leading online luxury platforms in Asia, and at the same time, produced high-quality print magazines.

"With its focused strategy of product development, the Group grew strongly in revenues and earnings even during the recession of 2009."