ARTnews has announced that it will launch a new ARTnews Asia edition next year, by way of a partnership with Luxetech Ventures, a global venture builder concentrated on the luxury industry and the art market.
Headquartered in Hong Kong, China, the new digital edition will be devoted to covering the art market and culture scenes in Southeast Asia, Macau, and Korea through web, mobile, social media, and livestream events. It expects to reach a diverse, multicultural community spanning 900 million people.
「We』re thrilled to expand the footprint of ARTnews to Asia, where the contemporary art scene is a reflection of the region』s rich cultural heritage and modernity,」 Luke Bahrenburg, president of luxury sales at Penske Media Corporation, said in a statement. 「Cities like Hong Kong, Bangkok, and Kuala Lumpur are burgeoning as vibrant and dynamic international art centers, displaying an array of styles, mediums, and perspectives and we look forward to shining a light on this region』s contributions to the art world.」
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「Looking into the future, art will become one of the driving forces in private investing, as millions of people are getting involved thanks to technology. Art, once considered a niche market for [the] super-rich, is appealing to wider audiences, and these changes create strong demand for well-curated information on talents and insightful events,」 Vladimir Lyaporov, managing partner of Luxetech Ventures, said in a statement.
「Affluent Asians』 interest in local art is trending upward, and the percentage of private wealth allocated in art is the world』s highest in Asia. After decades of Western dealers exporting art to newly wealthy Asian collectors, it seems that this one-way flow is starting to reverse, as mega-galleries and investors more frequently bank on Asian art. We are also witnessing Asian galleries expanding globally, and Asian art advocates, such as Adrian Cheng, gaining international acclaim as visionaries in art+commerce,」 he concludes.
Addressing art collectors, art professionals, and art enthusiasts in the global cities Hong Kong, Singapore, and Seoul, ARTnews Asia will offer highly professional content and engage its discerning audience in exceptional livestream events.
Announcing its editorial team later this year, ARTnews Asia will debut in digital and also in print, as a collectible edition, in March 2025, during Art Basel Hong Kong and Hong Kong Art Week.