Hearst Acquires 20% of Stylus Media Group
Hearst Corporation announced today that it has acquired a 20% stake in the London-based Stylus Media Group, a collective that provides business intelligence to consumer companies, according to Paul Luthringer, Vice President at Hearst Corp.
Hearst CEO Frank A. Bennack, Jr. and Stylus founder Marc Worth made the announcement together, though no financial terms were disclosed. As part of the merger, Kenneth A. Bronfin, president of Hearst Interactive Media, will join the Stylus Board of Directors.
Stylus monitors consumer behavior across industries including automotive, technology, media, retail, fashion and hospitality. The corporation is used by design, marketing, branding and business development departments within companies. Stylus has been around since September 2010, and has since expanded to cover 20 sectors in 50 countries, with a global staff of 100. More than 200 major companies have used Stylus data, including Saatchi & Saatchi, Starwood Hotels, Mulberry, Sony, Colombia Sportswear, Ford, The Container Store, Marks & Spencer and Interbrand. Stylus seeks to become a world leader in consumer industry research.
In a statement regarding the merger, Bennack said, “for all businesses to be competitive, spotting the next trend can mean success or failure. We believe that Stylus offers information that no company should be without. The growth potential is very promising, as is the benefit to our own brands and businesses.”
Worth added, “Hearst’s global presence will help drive Stylus’ business forward in Asia and Latin America as well as its core markets of U.S. and Europe. Hearst’s investment in both technology and new media businesses makes it an ideal partner and will allow us to meet demand for cross-sector, cross-country design intelligence.”