Westland, a Trent Limited subsidiary and one of the publishing houses in India, has raised funding from Amazon in support of its publishing business. The investment by Amazon will enable Westland to expand their international reach, and scale their physical and digital book businesses.
“We are delighted that our investment in Westland will help their authors reach a broader audience worldwide,” said Sarah Jane Gunter, Director of Amazon Publishing. “Our investment in Westland continues Amazon’s commitment to innovating and investing heavily on behalf of customers in India – it’s still very much Day One.”
With an estimated market segment of Rs. 10,000 crores, India ranks seventh in overall publishing and third after the US and UK in English language publishing. According to a recent FICCI Publishing Sector Report, book publishing in India is growing at a compound annual growth rate of approximately 30%. With an estimated 600 million adult readers in the country and a growing young reader base (15-25 yrs) of 350 million, the readership in India is expected to continue growing.
Westland has a history of over 50 years in retail, distribution and publishing. The present company is an amalgamation of two companies, Westland Books Pvt. Ltd. & EastWest Books (Madras) Pvt Ltd. Its focus shifted to publishing in the last 8 years and under CEO Gautam Padmanabhan’s guidance.Category Investments News