Ykone Acquires Majority Stake In Indian Influencer Agency Barcode
- ByStartupStory | March 20, 2024
French influencer marketing powerhouse Ykone has announced the acquisition of a 70% stake in Barcode, a prominent Indian agency specializing in content marketing and influencer collaboration. The deal marks a significant step for Ykone’s expansion efforts, particularly in India and the broader Asia-Pacific region.
The transaction, whose financial details remain undisclosed, underscores Ykone’s commitment to fortifying its position in the ever-evolving landscape of influencer marketing. With a reported turnover of $100 million and a workforce exceeding 300 employees post-acquisition, Ykone solidifies its standing as a dominant force in the industry.
Olivier Billon, founder and CEO of Ykone, emphasized the importance of the acquisition, stating, “This is a significant step for Ykone and its international expansion. It strengthens our presence in India and the broader Asia-Pacific region.”
Established in 2008, Ykone boasts a global presence across 18 major cities, including key hubs like Hong Kong, Dubai, Milan, Paris, and Las Vegas. Renowned for its innovative digital influencer marketing platform, Campaygn, Ykone serves a prestigious clientele, predominantly luxury brands such as Burberry, Gucci, Chloé, Hugo Boss, and Prada.
Barcode, founded in 2019 by Rahul Khanna, has swiftly emerged as a leading player in the Indian market. With a workforce of 150 employees spread across three offices, the agency caters to a diverse clientele, including multinational giants like Unilever, Amazon, YouTube, and luxury brands such as Chopard. Leveraging a network of over 350,000 influencers, Barcode has facilitated over 40,000 brand collaborations, solidifying its reputation as an industry frontrunner.
“The acquisition of Barcode is a testament to our commitment to tapping into high-growth markets,” remarked Billon. “India’s burgeoning luxury market, projected to reach $200 billion by 2030 according to Bain & Co., presents immense opportunities for Ykone.”
Highlighting the strategic value of Barcode’s talent management arm, known as Click Media, Ykone underscored the addition of influential Indian personalities to its portfolio. “This adds significant value to Ykone’s portfolio and enhances their ability to connect brands with high-profile influencers in the Indian market,” the group stated.
The move not only cements Ykone’s foothold in India but also positions the group to capitalize on the region’s vast social media audience, estimated to exceed 500 million users.
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