M&S Holdings, which has interests in diverse sectors including the media, technology, entrepreneurship and tourism, was formally launched on Thursday.

Sambhav Sirohiya, Group Chief Executive Officer of M&S Holdings, made the announcement amid a programme on Thursday.

“Though M&S Holdings has been registered officially as an investment company, we are launching a movement today. We aim to develop new markets, explore new avenues and convert issues and challenges into opportunities,” said Sirohiya. “We don’t have a primary goal of profitability. We thrive for satisfaction of the customers, subscribers and the team working with us.”

During the event, M&S Holdings also announced the launching of four subsidiary companies—M&S VMAG (Movers & Shakers Media Pvt Ltd), M&S NEXT (NEXT Venture Corp Pvt Ltd), M&S WORXpro (WORXpro Pvt Ltd), and M&S Events (Movers & Shakers Events Pvt Ltd)—which it believes will create a hub for entrepreneurs, innovators, futurists and everyone who dreams to deliver. “All these four companies have one goal, which is to revolutionize customer experience in the field of media, technology, tourism and entrepreneurship,” Sirohiya said.

M&S VMAG is a weekly video magazine that incorporates all forms of lifestyle in the form of print and video. It is published every Friday as a 52-page magazine and high definition videos. VMAG, which was formerly known as Movers & Shakers, was started in October 2013 as an eight-page lifestyle supplement to The Kathmandu Post.

Since February 2015, VMAG has been telecast on Kantipur TV and Kantipur Gold TV, apart from a dedicated YouTube channel. “We are making the best use of technology. The move is in line with a strategy of moving along with the readers’ interest,” Sirohiya said.

M&S Holdings said that the contents of VMAG would also be featured on its website www.mnsvmag.com and on its mobile application. The company has priced its new product at Rs50 per edition while an annual subscription costs Rs2,500. Tiku Gauchan has been named the editor of VMAG while Saurabh Pahari has been appointed as the business head.

Meanwhile, M&S Next, which was started as Asian Ventures in 2012, is a support system enabling entrepreneurs to start and grow their businesses in Nepal.

The venture will help entrepreneurs, provide education, mentorship and market exposure, share office space and resources, and provide a supportive community, valuable networks and access to funding through NEXT Launch Pad, NEXT Venture Hub, NEXT Venture School and NEXT Venture Fund.

The venture is headed by Founder and Managing Partner Kavi Raj Joshi.

Similarly, M&S WORXpro Innovation is an innovative lab that aims to contribute to the exponentially growing global tech industry by focusing purely on research and development. The company will be focusing on emerging computing areas that are critical for any business to be successful. “This venture will focus completely on research and development. The company won’t be launching commercial products including websites and applications for at least the next five to 10 years,” Sirohiya said. Ananta Saurabh heads the venture in the capacity of chief executive officer.

Likewise, M&S Events aims to introduce new avenues in the tourism industry to enhance corporate networking, luxury lifestyles and adrenaline pumping adventure activities through redefined signature events, the kind that will catapult local destinations and cultures to the global scene. According to Sirohiya, the venture aims to take a different approach to promote tourism and inspire event management companies to explore resources available in the country.

During the event, Sirohiya also announced that the company would be introducing two new ventures in 2016.