Annah Stretton To Re-Vitalise Her Business Mag
Annah Stretton To Re-Vitalise Her Business Magazine
News that Momentum Communications Limited has gone into voluntary liquidation as part of a restructuring move will not affect one of this country’s premier magazine titles, Her Business, after the magazine was sold to leading New Zealand entrepreneur and fashion designer, Annah Stretton, late last year.
The new owner of Her Business, Stretton is set to invigorate the magazine this year with a mix of her own bottom line business experience and expertise earned at the coal face of business.
“I wanted to own the title because it has done a lot to advance my businesses and the women I mentor and appreciate its value, and I wanted the challenge of taking it to the next level,” said Stretton.
Having accrued her credentials at the sharp end of commerce - Stretton Clothing employs more than 100 people, exports to 150 countries world wide and increased turnover by more than $2 million last year – the magazine’s readership can only benefit from the extra edge Stretton will bring to the publishing mix.
The successful business woman and internationally acclaimed fashion designer bought Her Business magazine for an undisclosed price when she was looking for a new challenge which – like the fashion industry – would put her business and creative skills to good use.
“This year I spent some time speaking to schools in the Bay of Plenty and Hamilton areas about the importance of balancing creative subjects with business studies – I see Her Business magazine as a good vehicle for balancing creativity, the business bottom line and importantly, sharing that success.”
Stretton said her motive for buying Her Business magazine was not money – the magazine does not turnover much more than her Cambridge store, while her company Stretton Clothing is set to reach targets of more than $10 million in turnover this year.
“Stretton Clothing now has a very strong infrastructure that will stand it in good stead, so I was keen to extend myself to that very fractious level where the pressure is really on and you wonder if you can cope again.
“I would like to make Her Business in to one of the strongest business magazines out there – to produce a real resource for business woman that both inspires and empowers women in business in New Zealand.”
Her Business magazine will be based out of Annah Stretton’s Morrinsville offices - the company will invest more than $1 million in new premises this year – where Stretton Clothing also has a team of highly skilled graphics staff.
“We can easily bring the production in-house and we already have three top women writers who will join our team on a contract basis.”
Having recently won the Her Business Woman of the Year 2005 Award, the Ernst and Young Entrepreneur Award for Retail, Consumer and Industrial Products 2005 and received an honorary capping from the Waikato Institute of Technology, Wintec, for a Masters in Arts – Stretton is relishing the opportunity to pass on some of her hard earned business acumen to other women in business in New Zealand.
As important to Stretton as the awards and business achievements last year was the fact that she mentored more than 10 small businesses – half of these from the fashion industry – and wrote six columns with a business mentor focus for Her Business Magazine.
Stretton’s clothing is sold through 28 outlets countrywide, including nine franchise stores, and 150 accounts overseas. In June last year the company opened the Mount Maunganui store, followed by the Whitianga store last month and this month a new store opens in Hamilton.