Internet marketing firm is planning to invest in internet brand marketing company as part of a strategic review of its business.
Key points:Internet marketers have a strong presence in the Australian market, and they have been encouraged by the high level of adoption of online advertising The investment will be made in two new companies – one in Sydney and the other in MelbourneInternet marketing firm Taschen said it was working with a group of companies to explore the opportunities for growth and innovationThe internet marketing companies have a proven track record of growth and are confident they can continue to deliver high-quality online advertising for their customers.
They have also been encouraged over the past few years by the strong uptake of online marketing by consumers, with the average monthly spend for internet marketers on brands ranging from $1,100 to $5,000.
“The market is changing quickly and there is plenty of opportunity for companies to grow and innovate,” Tascen CEO Steve Hagg said.
“There are so many opportunities for the industry to grow, especially for businesses in the hospitality and travel sector, where consumers are spending more than ever.”
Internet marketing firms such as Tascan and Brandeis are investing heavily in the internet brand industry.
The two companies will invest $1 million each to establish two new brands in Sydney, one based in Sydney CBD and one in Melbourne, with a goal of launching the new brands by 2021.
“We are working with some of the industry’s leading brands and investors to explore opportunities for their brands to grow,” Mr Hagg told News Corp.
“Brandeis has long had strong relationships with many of our largest brands, and we believe we can build on those relationships to drive growth.”
The two new internet brands will be based in Melbourne and Sydney.
Mr Hagg, who is also a former Brandeise director, said Tascans investment in the Sydney brands would enable the company to expand its global footprint.
“In the coming months, we will look to expand our Melbourne brand in the same way that we have done with our Sydney brands,” he said.
Mr Tascens future strategic review will examine its business structure and its current and future strategy.
Mr Mr Hagan said the investment was part of Tasche’s “continued investment in growth”.
“We believe that the opportunity for growth lies in the continued evolution of our business model, which we have outlined in the past,” he added.
“Taschen has proven to be a leader in the online marketing space and we are confident that we can continue our momentum with these strategic initiatives.”