It’s interesting to hear that Net-A-Porter will soon be launching a print magazine while other publications are slowly going under. If there’s one thing to be counted on, it’s that this industry is a very unpredictable one. Where some companies rise, others fall to fill that gap, and Lucky Magazine has taken a few hits lately.
Just last month, Condé Nast replaced publisher Marcy Bloom with former beauty industry executive Gillian Gorman Round. Round, who was named the general manager of editorial and business at Lucky was given the task of creating a new business model that emphasized e-commerce. Now, as was earlier rumored, Lucky Magazine is having its frequency cut from 12 issues a year to 10. It will combine December/January as well as June/July issues. However, this comes as no real surprise as just last week W was also cut from 12 issues to 10 along with Details and Teen Vogue.
During the first half of 2012, Lucky lost 15 percent of its newsstand sales, and according to Alliance for Audited Media it also lost 20 percent in advertisement pages. So, a revamped business model is what’s in the works to decrease these losses and increase earnings again.
“This strategic evolution ensures the healthy growth of our core print business, as we work towards a streamlined multi-platform model,” Round said.
– Jamie Wilson
Source: WWD; Image: Groupon