In light of the recent cutbacks occurring at publishing powerhouse Conde Nast, some industry sources are starting to wonder if the company has got something up it's designer sleeve. After hiring management firm McKinsey &Co. this summer to review the company's operations, Conde Nast has gone through some eyebrow raising changes including shuttering four publications last week alone and shifting management throughout titles like Details and Glamour. But are the 25% company-wide cutbacks in preparation of a something else? Some bigger type of renovation, perhaps?
Fashion Week Daily is proposing that the Conde Nast cutbacks may be intentional in freeing up funds to purchase Hachette Filipacchi Media's Elle, one of the only titles still thriving amidst the sales slump of the past year. Last summer, rumors swirled that Hearst publishing was considering the sale of Elle from the struggling Hachette, a deal that would benefit both houses, but the rumors were promptly denied. Now FWD thinks Conde Nast may be throwing their hat into the ring for Elle, especially since the recent announcement that W magazine, one of Conde Nast's fashion bibles, will be cutting its distribution in half from twelve to six issues a year. Elle has reportedly been enjoying more exposure than ever these days with its involvement in hit shows like Project Runway and The City. It was also seemingly one of the only magazines who was able to send all its editors to the recent European shows of Fashion Week. So with four shuttered titles and another one rumored to be cut in half, will Conde Nast be eyeing the success of once rival mag Elle? Time will only tell but New York Magazine is calling the rumor's bluff. Apparently W's chairman and editorial director Patrick McCarthy, said that while there may be impending budget cuts to their operations, W will not be cutting its frequency to six times a year.
Article Source: Fashion Week Daily, NY Mag
Photo Source: mediabistro
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