Esquire, the reputed American men's magazine, will soon be coming to an outlet near you. Hearst Communications, which publishes the 90-year-old magazine in the US, has partnered with RPSG Lifestyle to enter India for the first time. Avarna Jain, Chairperson, RPSG Lifestyle Media, spoke with CNBC-TV18's Ajay Vaishnav about the launch date, the need for a men's magazine in India, and related aspects.
Here are the edited excerpts:
Q: Could you please confirm that Esquire Magazine is coming to India? When is the launch date?
Avarna Jain: Yes, it is absolutely 100% confirmed that Esquire is coming to India for the first time. And we are very proud that Hearst has tied up with RPSG Lifestyle to enter India with Esquire. The launch date is April 2024.
Esquire is a magazine that started publishing in 1933. It is 90 years old. It's entering India for the first time. It has 18 editions worldwide; we will be the 19th. It's a very well-respected magazine worldwide in the men's lifestyle segment. And we're very, very proud that they have partnered with us.
Q: Will it be a print or digital edition or both?
Avarna Jain: It will be both. It's a monthly print magazine, but we will also have a digital version with a website where you can access and read all the premium content. We will also have an on-ground approach. We will regularly be doing events so that people can physically attend on-ground invitation-based events.
Q: What about the subscription plans?
Avarna Jain: The print edition will probably get sold for anything between ₹250 and ₹300. In the digital version, we'll see as we go along how we want to price it and how we want to distribute it. But we do think that a holistic approach is important. So print, digital, social media, and on-ground events. So it will have to be a 360-degree approach for us.
Q: A men’s magazine is a very niche segment. Do you think there is a big market out there?
Avarna Jain: Oh, absolutely. It's a huge market, and it's a growing market. If you look at simple things like FMCG trends or luxury, retail trends, the consumption pattern for men has changed and increased drastically over the last few years. Brands now have a dedicated men's line, and that is indicative of the fact that Indian men are growing consumers of luxury. So, it is a fitting time for us to enter this space with a magazine where the target audience is this evolved Indian man who is not only an Indian but is ready to take on the global stage.
Q: Is this market sustainable in terms of pricing, profits, and ads?
Avarna Jain: Oh, absolutely. If you look at all the luxury items today, whether they are clothes, cars, or art, whether it's an aeroplane, a yacht, or anything else, the majority of consumers in any of these places or segments are all male-dominated. If you look at any of the credit card companies and you look at the different tiers, if you look at the highest tiers today, they are all dominated by men. All the market trends point to this segment booming in the next few years.
Q. Will the focus of the magazine be more on the premium urban market? Will there be regional editions as well?
Avarna Jain: We are focusing more on the luxury segment, which will be more of the Tier 1 and Tier 2 cities. So, I think the English-speaking audience is who we are after. However, that said, as a group, we are ready to evolve as the need arises. So, if we feel there is a need gap and want to expand, we will always explore it; we will not be closed to any of it.
Q: What is the image you have of a quintessential Esquire man? And how do you fit into the Indian audience?
Avarna Jain: The Esquire India man will be, I think, a millennial, but on the more evolved side of the spectrum. They have been through the brass of building their lives, but they are at a point where they have developed perspective, they have reason, and they will probably be between 30 and 43 years of age with a sweet spot of maybe 35. So, maybe you can think of Ranveer Singh, Ranbir Kapoor, and Virat Kohli, and you will get an idea of what we're thinking of as the quintessential Esquire man.
