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It appears that those longstanding rumors about Lucky magazine's troubles had merit. Today it's reported that publisher Condé Nast is getting rid of the magazine. To be clear, it is not folding but will continue under different ownership. As AdWeek details, "Today, Condé is announcing plans to spin off Lucky's print and digital components and combine them with ecommerce platform BeachMint, creating a new, totally independent company called The Lucky Group. BeachMint, which owns private-label online brands like JewelMint and StyleMint, will provide the technology for a brand-new (and as-yet-unnamed) Lucky ecommerce destination launching in early 2015."
Eva Chen and Anna Wintour will remain involved, with Chen staying on as chief creative officer and Wintour as an advisor. The new company will be lead by BeachMint's LA-based Josh Berman as CEO. As for current staffers, "luckymag.com's current editorial team will eventually transition to creating content for the ecommerce site." Meanwhile, print editors will continue to put together and publish a magazine—it's unclear how that will work, though.
This means that Lucky will not join its compatriots at One World Trade; Chen reports that they're looking for office space now. Will BeachMint, a company steeped in e-commerce, be able to do what Condé Nast has tried and failed to do for years? And how will the Lucky brand do outside of the confines of Condé? This all remains to be seen.
· Lucky Spins Off from Condé Nast as The Lucky Group [AdWeek]
· Eva Chen on Lucky Shuttering Rumors: 'Haters Gonna Hate' [Racked]