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Report: Lucky Magazine, and Luckyshops.com, to Shutter

Rachel Murray/Getty Images

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Could the end be near for Lucky magazine and its e-commerce site Luckyshops.com? According to anonymous sources, The Daily Front Row reports that The Lucky Group will be closing and firing its entire staff. The rumor is that BeachMint’s Los Angeles HQ contacted two New York staffers at the company via email about the layoffs, and that Lucky veterans will only receive two weeks severance pay. Two weeks severance pay was offered to Condé staffers during Lucky's big layoffs in February.

Last month, the magazine was reduced from a monthly to a quarterly, and in April, EIC Eva Chen announced plans to step down. At the time, Lucky also canceled its style blogger conference, FABB, with only a week's notice.

If true, it seems that most Lucky staffers—even at a senior level—were in the dark about the company's prospects; digital editorial director Verena von Pfetten just gave an optimistic interview to WWD about how product is selling on the e-commerce site. When news broke that the magazine would halt its monthly circulation, the company suggested to Adweek that a Lucky acquisition could be coming this summer.