Glossy fashion magazine Lucky, which has been teetering on the brink of going digital or folding entirely, has proved true to its name. Publisher Conde Nast said on Monday (Aug. 11) that it is spinning the magazine off into a joint venture with subscription shopping company BeachMint.
In its new incarnation, Lucky will print 10 issues a year, retaining its current print editorial staff. Its online editorial team will transition to create editorial around BeachMint’s e-commerce initiatives, Fashionista reported.
The new company, the Lucky Group, will be a “wholly independent entity” backed by Conde Nast and BeachMint’s investors, which include Goldman Sachs and NEA, Conde Nast said. BeachMint’s Josh Berman will serve as CEO, with Lucky Senior VP Gillian Gorman Round as president. Editor-in-Chief Eva Chen will be Chief Creative Officer, and Conde Nast Artistic Director Anna Wintour will serve as an advisor.
Lucky started life in 2000 as a cross between a fashion magazine and a catalog, and eventually distributed 1.1 million copies per issue. But in recent years the number of ad pages has plummeted. In the usually giant September issue, Lucky had 60 pages of ads, while its Conde Nast stablemate Vogue had 631.
