BIZCHINA / Biz Who
Writers unblocked
(China Daily)
Updated: 2006-09-11 11:36
A journalist's inquiring mind may be one of the most important talents
for a CEO who manages a billion-dollar business.
At least that is what John Makinson, Penguin Group's chairman and chief
executive, has found.
"I always ask questions," says the journalist-turned executive.
Penguin Group, the 70-year-old British publisher, is looking for
additional growth in emerging markets such as China.
John Makinson, Penguin Group's chairman and chief executive [China Daily]
Which means one question on Makinson's mind is: What can Penguin do in a
country where foreign publishers aren't allowed to publish?
"We are realistic about how rapidly we will be able to grow in China
until the regulatory regime for foreign publishing companies becomes more
relaxed," Makinson says.
"But we are committed to this market and want to participate as actively
as we can," he says.
Makinson's answer is to do three things in China: Partner with local
publishers, translate Chinese works into English for promotion in
overseas markets, and increase the sales of Penguin books to English
speaking Chinese readers and the growing expatriate community in China.
Makinson pins high hopes on the first two strategies because of their
large potential over the long term.
Bronte in Chinese
Penguin Group, the publishing arm of Pearson, recently announced at the
Beijing International Book Fair a licensing deal with a local partner,
Chongqing Publishing Group, to translate the Penguin Classics into
Chinese and sell under the Penguin logo in China.
Penguin has previously sold the rights to English-language titles to
Chinese publishers. But this is Penguin's first venture in China under
its own logo.
The first 10 titles include Jane Eyre, Wuthering Heights, The Hunchback
of Notre Dame and Oliver Twist. Each title will be printed at 10,000
copies and be sold at about 20 yuan (US$2.5) each starting from November.
Although such a relatively low price, which is average on the Chinese
market, will not immediately have a big impact on the British publisher's
global balance sheet, Makinson believes the partnership will help
establish Penguin's brand in the Chinese market.
He is confident that the books will have a long shelf life because of
their quality in translation, expert forwards and annotations.
Makinson, who worked 10 years as a journalist at Reuters and the
Financial Times, has attached a modern twist to the classics publishing
programme in China. Penguin will launch a Chinese website for the
classics and readers will be able to download audio materials about the
classics to an MP3 or iPod. The books can even be downloaded to an e-book
reader as soon as the books are published.
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