Time Inc is at it again in its never ending effort to expand its brands and revenue sources. The company’s latest effort comes via a licensing deal for its Fortune brand. The company will license the Fortune name for stock indexes based on the well known Fortune 500 in a partnership with Barclays. Time Inc has been rapidly rolling out brand extensions for some of its biggest brands including Real Simple. Since the company decided not sell CEO Rich Battista has been under the gun to ramp up revenue and digital offerings. The company recently announced the elimination of 300 staffers across its global operations and is believed to now be in the process of identifying non core brands and business divisions to put on the block. The company has a goal to recognize $100 million in cost savings.
“We’re trying to be more creative about ways to expand our brand,” said Brian O’Keefe, deputy editor of Fortune magazine. “Frankly, this index should have been done a long time ago.” In addition to the magazine, the brand hosts conferences such as the “Most Powerful Women Summit” and is expanding online.
Better late than never.
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