Logo of BinDawood Holding Co.
France’s TF1 Group plans to sell a 70% stake of Ykone Co. to BinDawood Holding Co.’s subsidiary for €50 million (SAR 192 million), according to Les Echos financial newspaper.
The media group announced that Ykone is an international influencer marketing agency that develops social media and influencer strategies for leading companies in fashion, beauty and the luxury market. Ykone sales reach about €70 million per year.
“We seek a partner in Asia and the Middle East as we recorded strong growth. We look for investors who believe in social media,” Ykone Founder Olivier Bellon said.
He stated that Ykone has achieved strong growth and doubled its income since 2020, targeting to achieve €200 million within the next two to three years.
BinDawood Holding entered into exclusive negotiations for the potential acquisition of a majority stake in Ykone, a subsidiary of TF1 Group, through its wholly-owned subsidiary, Future Technology Retail Co., according to data available with Argaam.
BinDawood Holding did not disclose the expected stake or deal value.
Ykone is a marketing agency established in 2008 and was incorporated into TF1 Group in 2018. Ykone has strong presence in 12 countries, along with the cities of Paris, Milan, Geneva, Berlin, Munich, Las Vegas, Miami, Dubai, Abu Dhabi, Riyadh, Jeddah, Hong Kong, Bangalore, Tunis and Shanghai), according to data compiled by Argaam.
The social media influencer recently acquired the German agency COVER and currently employs more than 150. It supports around 50 large groups in implementing social media and influencer strategies.
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