Lucky to Shutter Print Operations

Lucky, the editorial arm of The Lucky Group, is shuttering its print operations, but will continue its digital arm, WWD has learned.

Lucky did not return requests seeking comment.

The company has undergone several changes since its parent Condé Nast spun off the publication in a joint venture with e-tailer Beachmint last year to form The Lucky Group. Since then, Lucky has tried to transition into an e-commerce play with an editorial presence in both print and online.

WWD previously reported on the tumultuous environment for existing staff, who were asked to simultaneously wear the hat of merchant and editor. The shift in Lucky’s strategy ended in the departure of editor in chief Eva Chen, who resigned in April. Shortly after, Lucky indicated that it would reduce its frequency to quarterly from 10 times a year, focusing on improved print paper stock. Lucky said it was also in the process of courting investors. Layoffs ensued—about 14—including the dismissal of publisher Gillian Gorman Round.

Recent news reports indicated that Lucky Group was going to shutter, after an investor pulled out of talks. Although a key investor did pull out, three others are still in talks with Lucky, a source with knowledge of the situation told WWD.

Staffers are to learn more about the state of the company at a meeting later today.