SANDERS TAKES NEW ROLE: Gina Sanders, Condé Nast’s global head of development, informed her team Friday morning that her role has once again changed at the publishing company.
Sanders said in a memo to staff that as the global team moves its base to London, she would remain in New York and work with the company “developing investment strategies.”
“Having studied the optimal path for a Condé Nast Global Development function for the past several months, I believe the greatest efficiency can be achieved by moving operations to London, where many of Condé Nast’s central international resources are based,” Sanders said. “With the majority of Condé Nast’s international properties located in Europe — including 10 editions of Vogue, 11 editions of Glamour, seven GQs, four Vanity Fairs and their respective Web sites, it makes the most sense to base Global Development in the British Capital.”
The London-based Condé Nast International, which is run by Jonathan Newhouse, will fill Sanders’ role in the Global Development group.
Sanders told WWD that as “the company is pursuing growth strategies both organically and through investment and acquisition,” her role would involve working with Andrew Siegel, senior vice president of strategy at parent company Advance Publications.
According to media reports, Siegel had $500 million to invest when he took the job at Condé in 2012. But it has been rumored that the company has only invested a fraction of that sum.
When asked to expound on her new role, Sanders said she “did not know what the parameters would be.”
“I’m going to be part of a team,” she said. “I don’t have a title yet. I’m looking to grow my own role there.”
Before her appointment as global head of development in September, Sanders, who is related by marriage to the Newhouse family, served as president and chief executive officer of Fairchild Fashion Media, a position she held since 2010. Sanders moved back to Condé Nast following the sale of FFM to Penske Media Corp. in August.
Sanders said what she brings to Condé is a background in fashion, retail and commerce.
“That’s my expertise,” she said, offering that when she ran FFM, she made a strategic investment in wholesale marketplace Joor, which she noted has been successful.
Prior to FFM, Sanders served as vice president and publisher of Lucky, which was merged with e-tailer BeachMint to form the Lucky Group over the summer. She also served as the founding vice president and publisher of Teen Vogue and as vice president and publisher of Gourmet, which folded in 2009, as well as Details magazine.
“For me, it’s a very, very happy day,” concluded Sanders. “We’ve done the right thing for this [global development] business. It will have all the support it should have.”