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Eros International scoops top honour at Asian Business Awards
08/05/2007
Tuesday 8th May 2007 witnessed Eros International, the London listed leading media & entertainment company, being honoured with the BDO Stoy Hayward Business of the Year Award at Eastern Eye Asian Business Awards. Kishore Lulla, the CEO and Chairman of Eros International, was presented the award by HRH The Duke of York, the UK's Special Representative for International Trade and Investment.
Eros International was started by Arjan Lulla exactly 30 years ago with a view to exporting Indian films and tapping into the video boom of the 70s and 80s. Kishore Lulla took over the reins of the business from his father in the 80s and infused Eros International with a vision and clear strategic direction that has seen it achieve great heights, not only for itself as a company but for the Indian film industry as a whole, by giving Indian cinema a global platform. Already a 10 billion dollar industry slated to cross 50 billion dollars by 2015, the Indian cinema industry or ‘Bollywood' as it is fondly termed, is at its buoyant best.
Kishore was instrumental in accelerating Eros's phenomenal growth that has helped the company expand its operations in over 50 countries, with worldwide offices in India, UK, USA, Dubai, Australia, Fiji and Isle of Man. A pioneer with over 35% market share in a highly fragmented sector, Eros is virtually one of the only companies to truly operate on a vertically integrated studio model. Eros has a valuable film library containing more than 1,300 titles, making it one of the largest content owners in the business.
Eros Pictures, Eros Global Distribution, Eros Music, Eros Home Entertainment, Eros Content Syndication, Eros New Media are all strategic business units of the Company which were born out of Kishore's vision and foresight to vertically integrate the business across the value chain.
Recognising the need to have visibility and currency in order to take a lead in the consolidation of the fragmented market, and to further leverage Eros's dominance in the sector, Kishore decided to take the company public in London and Eros was listed on the AIM market in the London Stock Exchange last year. Listed at a price of £1.76, the Eros shares are already trading at over £4 and the company has achieved a market capitalisation of over 900 million dollars, clearly the largest player in the sector by miles. This year also marks Eros International's 30th year of powering Indian cinema.
The Eastern Eye Asian Business Awards were presented at a star studded gala dinner with a lavish VIP champagne reception, and around 1,000 VIPs, public figures, MPs and millionaires attended. Now in its 11th successful year, the event is internationally recognised as the most noted Asian event on the British business calendar.
Kishore Lulla commented on the occasion:
"We could not achieve this great success without the unconditional support of my family and the Eros team. But above all I think this award is a tribute to the entire film fraternity who have believed in Eros. I am proud to be a part of the rapidly growing Indian film industry and help showcase it on a global platform."
About Eros International plc
Eros International plc is a well-established global player in the fast-growing Indian media and entertainment arena. Being vertically integrated means that Eros not only produces and commissions films like studios but it also distributes/exploits films across formats globally via cinemas, home entertainment, television formats and new media.
Established in 1977, Eros International has three decades of market leadership in creating a global platform for Indian cinema. The company operates in over 50 countries with worldwide offices in India, UK, USA, Dubai, Australia, Fiji and Isle of Man. It has built a successful business model around the release of 30-40 new films every year and the exploitation of a film library containing more than 1,300 titles, making it one of the largest content owners in the business.
Global Distribution, Motion Pictures, Music, Home Entertainment, e-Television, New Media and Animation are the main Strategic Business Units of Eros.
Eros enters its 30th year in the business with the Vision of consolidating the fragmented industry, the Strategy of operating a vertically integrated business model and the Motto of Powering Indian Cinema.
Press Contacts
UK: Vaishali@erosintl.co.uk
US: niyati@erosentertainment.com
India: viki.rajani@erosmultimedia.net