Emerging Markets for Publishers
The point is to harness the potential of emerging markets, where literacy rates are rising and where Penguin is willing to break from English. In India, where the company has been operating for 20 years, the publisher is moving into Hindi, Marathi and Urdu. Penguin India publishes 300 titles a year.
Mr Makinson, 53, believes that Penguin can generate 10 per cent of its sales from emerging markets, which amounts to £100 million a year. The operation in India grew by 25 per cent last year, boosting turnover by £15 million and should, Mr Makinson says, generate 5 per cent of revenues in five years.