Milan — Ykone, Europe’s leading influencer marketing company, has looked east to further expand its reach and reach.
The company announced on Tuesday that it has acquired a 70 percent stake in Barcode, an Indian content and influencer marketing agency, reflecting the company's international ambitions and the opportunities presented by India's booming influencer market. .
Although financial details of the deal were not disclosed, Ykone Group CEO Olivier Biron characterized the acquisition as the largest ever in the influencer marketing space in India.
“The majority of our customers come from the luxury goods industry and we cannot afford to overlook India's tremendous growth in this sector,” Billion told WWD.
According to Bain & Co., India's luxury market value is expected to soar to $200 billion by 2030. Add to this his social media audience in India, estimated at 500 million.
“Barcode not only understands the Indian market, but accelerates its dynamics,” Biron said. “His Barcode, a partner for companies like YouTube and Meta, plays a key role in social media adoption from a brand perspective,” he added.
Founded in 2019 by Rahul Khanna, Barcode has quickly grown into a hub for influencer marketing in India, with celebrities such as Rohit Jinjurke and Karishma Sharma working through its talent management arm known as Click Media. represents. In 2022, the company won the Influencer Marketing Agency of the Year 2022 – Large award.
Khanna said: “Ykone’s presence in the European Union, United States and United Arab Emirates markets is the driving force behind Barcode’s global journey with our multifaceted talent and influence. Our vision is to build on this acquisition. We do this by bringing together leading creative companies to dominate global influencer marketing as a market leader. We share the same values and vision of seamlessly integrating people and technology into service brands and users. We are sharing.”
The Barcode founder highlighted how the use of social media is ingrained in Indian society. “Thanks to a rich film and content industry and a burgeoning influencer economy, every Indian is essentially a creator today,” he said, adding that the country has the world's largest base of social media content creators. He added that the number reached 100 million last year. .
Barcode's acquisition in 2021 includes a 51% interest in Milan-based digital communications agency MB New Media Agency, owned by Matteo Baldi and which includes talent agency Bold Management, and a German company led by Anne. This is the company's third acquisition, following its acquisition of 51% of agency Cover Communications. Heveler, one year later.
Founded in Paris in 2008, Ykone has offices in Paris and Berlin. Milan; Shanghai; Hong Kong; Geneva; Munich; Miami; Las Vegas; Dubai and Abu Dhabi in the United Arab Emirates. Riyadh and Jeddah in Saudi Arabia. Bangalore, India and Tunis, Tunisia.
In 2022, Saudi Arabia's Bindawood Holding Company, through its wholly-owned subsidiary Future Technology Retail, will acquire 80.5% of Icorn's shares and 70% of the shares held by French content production, publishing and distribution leader TF1 Group. , acquired the remaining 10.5 shares. Percentage of interest from minority investors. Mr. Biron and Mr. Bardi and Mr. Heveler, CEOs of Ikon Italia and Ikon Germany, respectively, retained minority ownership interests in the Ikon Group together with other management members.
Industry insiders estimated the deal value at 50 million euros.
Since the sale, Ikorn's network-building plans aimed at expanding its size, scope and scope have resulted in the opening of a second U.S. outpost in Las Vegas and the establishment of a new unit in London. Biron told WWD that he expects Ykone's revenue, which includes barcodes, to reach 100 million euros this year.
