The Ministry Of Sound Group has announced it is rebranding to become the MSHK Group, the 'HK' bit presumably standing for HedKandi, which is another clubbing brand now operated by the Ministry empire.
In a statement issued yesterday, the company said: "Ministry of Sound is renowned for its successful nightclub and music business, which has delivered its first number one artist album this week, but it also encompasses a stable of brands including HedKandi, Global Underground and Euphoria". The new name is meant to communicate that the company operates a number of different brands, and also that its operations are much wider than that of a traditional music company. The statement also revealed that Lohan Presencer, formerly MD for Ministry, will be promoted to become CEO of the MSHK Group.
Confirming all this, MSHK Chairman James Palumbo told CMU: "Lohan has been integral in broadening our business from one of the world's biggest music groups to an international house of lifestyle brands and products. Now that we have a fully diversified business, it is time to rebrand and this is a good moment for Lohan to step into the top job".
Presencer himself told us: "Being the world leaders in dance music has established a great platform for us, but given changing times we have needed to grow our business into complementary areas. This has been a fascinating experience and our new brand extensions are quickly catching up with our original business. I have always wanted to make a reality of the much talked about '360 degree' model, rather than the usual rhetoric based on unworkable and expensive deals, and at MSHK we are in the unique position of having achieved this. We have a whole raft of developing ideas, including launches of our new range of HedKandi haircare products and fragrances, which will be coming to fruition over the next year, and it is a tremendously exciting time to be taking control of the group".