SCMP Group seals printing deal with New York Times
The SCMP Group has entered into an agreement to print the International New York Times' publications in Hong Kong and the mainland.
The deal is set to kick off in February next year and is the second contract printing agreement the SCMP has entered into in three years. The first was with the Chinese-language paper am730.
"We are delighted to be awarded the contract to undertake the International New York Times' printing needs for Hong Kong and China," SCMP chief executive Robin Hu said. "For the INYT, given its loyal base of on-the-go high-achieving subscribers, there can be no compromise when it comes to quality and reliability.
"We are therefore honoured to have been selected by one of the world's most admired publications as its trusted printer in a region that has established itself as a major source of global news."
The deal was a sign that, while both media organisations continue to push the envelope in the digital frontier, their print versions represent a strong commitment to print journalism, loyal print readers and advertisers.
The SCMP's facility in Tai Po will now support the daily printing of the South China Morning Post, am730 and the International New York Times.
The SCMP also publishes leading fashion and lifestyle magazines including ELLE, Cosmopolitan and Harper's Bazaar.
Contracted printing is a greenshoot engine of growth for the SCMP. Other areas of growth include the group's events business, outdoor media, specialised publications, education and talent recruitment. Last month, the firm acquired mydress.com which further expanded its digital strategy. It was also its first foray into retail e-commerce.
That deal, worth HK$39.7 million, came at a time when global media companies are exploring new profit streams with the hope of further digitalising their content and business.
MyDress was founded by Edmund Wong Chun-yu and Leon Lai Man and launched its e-commerce platform in 2013.
The platform quickly gained a strong reputation among online shoppers in the greater China region, the world's fastest-expanding e-commerce market, for its broad range of boutique and fast-fashion apparel and accessories.