Rumors of plummeting ad sales have been plaguing Lucky magazine for the last few years, causing fashion and media insiders to speculate that it’ll either go all-digital or, well, go out of business. Turns out, it’s not doing either of these things, but big changes are afoot for the 14-year-old shopping glossy. It was announced today that both Lucky magazine and Lucky.com will be spinning off from its parent company Condé Nast and will combine with e-commerce platform BeachMint, creating an entirely new company called The Lucky Group.
If you’re an online shopper, you’re probably be more familiar with BeachMint’s individual properties, including ShoeMint, StyleMint, and JewelMint, which sell affordable fashion and feature a celebrity as the face of the site. According to AdWeek, BeachMint is set to provide technology for a brand-new Lucky online shopping destination launching in early 2015.
Interestingly, Eva Chen—who joined Lucky last year as its buzzy, young, social media-savvy editor in chief will be staying on as the new venture’s chief creative officer, and BeachMint co-founder Josh Berman will serve as CEO of The Lucky Group.
So, what does this mean for your Lucky subscription? It’ll continue for now, as Condé Nast plans to still print the magazine, while Condé’s artistic director Anna Wintour will still be involved with Lucky as an advisor.
No word yet on how the new e-commerce site will work, but it’s a safe bet that it won’t only feature products from the BeachMint suite.
“Part of my job as CCO is making sure that mix of everything from Loeffler Randall to Lanvin is represented,” Chen said. “I want the site to mirror the way I shop.”
Of course, the looming question is whether Lucky can actually merge e-commerce and content in a way that’s successful—Condé Nast and other media companies have been trying and failing at this for years. Who knows, maybe the brand will be better off as a fashion tech company. One thing’s for sure: We—like most others in media—are looking forward to seeing how the new move shakes out.
What do you think about Lucky’s new direction? Weigh in below!