22 June 2023 · Corporate Update

Altenberg publishing reaches 500,000 copies sold — Board reviews European expansion

Kashmir Limited’s Board of Directors has reviewed the performance of group company Altenberg Sp. z o.o. at its quarterly meeting in Larnaca, noting that the publisher has surpassed the milestone of 500,000 copies sold across its catalogue. The achievement positions Altenberg among Poland’s most commercially successful independent publishers, validating the investment thesis that guided Kashmir’s original acquisition.

The Board noted that Altenberg’s growth has been driven by its distinctive creator economy publishing model, which pairs editorial excellence with partnerships with high-profile content creators and public intellectuals. This approach has enabled the company to achieve sales volumes typically associated with much larger publishing houses while maintaining the editorial independence and creative quality that distinguish independent publishers.

In light of the strong performance, the Board approved a strategic review of potential European expansion opportunities for Altenberg’s publishing model. The review will assess the viability of entering German-language and Scandinavian publishing markets, where similar dynamics around creator-driven content and independent publishing are emerging. Initial market research and partnership development activities have been authorised, with findings to be presented at the Board’s next quarterly meeting.

The Board also approved additional operational investment in strengthen Altenberg’s distribution capabilities, including investment in the ALT.PL distribution platform and expanded warehouse and logistics infrastructure to support the growing catalogue.

“Reaching 500,000 copies sold is a significant commercial milestone, but what excites us most is the scalability of Altenberg’s model,” the Board concluded. “We see a clear path to replicating this success in other European markets, and we are committed to providing the strategic and financial support to make that vision a reality.”