The deal values Monocle, which was launched in 2007, at about $115m. The size of Nikkei’s investment was not disclosed, but was below $10m.
“This says we’re in a very good place,” Mr Brûlé said. “We started with €10m-ish of capital in 2007.”
Partnering with Nikkei is intended to allow Monocle to develop its media franchise, while giving Nikkei an English-language platform to expand its presence in Asia.
Mr Brûlé said Monocle was profitable mainly thanks to its monthly magazine. The title’s print circulation rose 4 per cent year on year in the first half of 2014 to 77,030, mostly outside the UK – and now sells about half as many copies as Condé Nast’s GQ. The upcoming October edition has attracted more than $1m in print advertising, he said."