Eros international scoops top honour
Bollywood Trade News Network
Wednesday 9th 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.
“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,” commented Kishore Lulla on the occasion.
Arjan Lulla started Eros International 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.
Recognizing 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 capitalization 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 recognized as the most noted Asian event on the British business calendar.