A regional publisher is set to launch a new magazine after encouraging employees to submit business ideas to the company.

Archant offers funding for new business projects through its innovation fund, with staff invited to pitch their proposals.

The company has now given the green light to a new quarterly global luxury property magazine called International Prime Properties as a result of the scheme.

The idea for the magazine was pitched by Karen Tait and Sue Crwys-Williams, who currently serve as group editor and group sales manager respectively of Archant’s France portfolio of magazines.

The pair will now add the new venture to their respective portfolios after it was given the go ahead.

The first issue, pictured below, will go on sale in April.

Jeff Henry, Archant chief executive, said: “Our ongoing investment in staff is second to none and I’m really proud to see Karen and Sue’s idea come to fruition.

“The innovation fund is a unique proposition that ensures we are giving our talented team a voice across the business and International Prime Properties is a great example of how the process can work successfully to build an impressive product. I look forward to seeing this year’s entries, showcasing Archant’s creativity.”

Archant will be distributing 40,000 copies of Prime International Properties across a range of locations including First Class airport lounges, five star hotels, hospitality boxes at sporting events, premium London shops including Selfridges and Harvey Nichols, and luxury estate agents.

In addition, copies will be distributed free with its sister, upmarket county magazines Cheshire Life, Sussex Life, Surrey Life and Hertfordshire Life, as well as in Marks & Spencer and Waitrose, and at Archant’s French Property Shows at Olympia, London and Wetherby, Yorkshire.