Future Media Group acquires W Magazine from Condé Nast

June 25, 2019 — Fusion DigiNet

Future Media GroupFuture Media Group has acquired ‘W’ magazine from Condé Nast. The acquisition will bring W together with Surface and Watch Journal to form Future Media Group. The terms of the transaction were not disclosed.

The Group will continue to publish eight print issues of W annually while also expanding the brand’s digital and experiential footprint. Future Media Group has named Sara Moonves as the magazine’s new editor-in-chief. Moonves, who previously worked at Vogue and at T:The New York Times Style Magazine, joined the staff of W as Style Director in 2017.

Marc Lotenberg, CEO of Future Media Group, said “W has always been an extraordinary and visionary arbiter of style. For over 45 years, its pages have been filled with indelible imagery and exciting journalism. We look forward to honoring and building on that legacy. We know that W will serve as a perfect complement to the publications already in our portfolio.”

“Sara has impeccable taste and a keen eye for how a media brand should evolve in today’s fast-paced media landscape. She has enormous credibility in the fashion community, not to mention a forward-thinking sensibility that will bring W beyond its core print distribution into various offline, online and augmented formats.”

Future Media Group will operate W offices in Paris, Milan and New York, as well as a soon-to-be established bureau in Los Angeles.

USA, New York, NY

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Essence Ventures acquires Essence Communications from Time Inc.

January 3, 2018 — Fusion DigiNet

EssenceEssence Ventures LLC, an independent African-American owned company focused on merging content, community and commerce, has acquired multi-platform media company Essence Communications Inc. from Time Inc. The terms of the transaction were not disclosed.

The all black female executive team of Essence, including Essence President Michelle Ebanks, will have an equity stake in the business, reestablishing Essence as a 100% black-owned independent company.

Since its founding in 1970, Essence has advocated women’s empowerment and the diverse images and lifestyles of black women. Today, Essence is an international, omni-channel destination for diverse storytelling and original content comprising beauty, fashion, lifestyle, entertainment and culture.

Essence currently reaches a global audience of more than 16 million across its various platforms encompassing its signature print magazine; digital, video and social platforms; television specials, and live events, including the annual Essence Festival, a cultural celebration that debuted in 1995 and is now one of the country’s largest annual events, attracting more than 450,000 attendees.

Richelieu Dennis, founder and chairperson of Essence Ventures, said “We are excited to be able to return this culturally relevant and historically significant platform to ownership by the people and the consumers whom it serves and offer new opportunities for the women leading the business to also be partners in the business. We remain committed to leveraging our resources to provide opportunities for other culturally-rooted entrepreneurs and businesses that further our culture and create economic opportunities for our communities.”

USA, New York, NY

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PenskeMedia acquires FashInvest

November 27, 2017 — Fusion DigiNet

PensPenske Media CorporationkeMedia Corporation and its subsidiary Fairchild Media today announced the acquisition of FashInvest, the innovator in connecting the fashion-tech, fashion, retail, and branded consumer goods sectors with the finance and investment sectors. This acquisition follows Penske Media and its subsidiary Fairchild Media’s acquisition last month of Sourcing Journal, a media brand for global executives focused on the sourcing and manufacturing industries. The financial terms of the deal were not disclosed.

FashInvest, known for being “where fashion meets finance,” began as a series of educational industry events in 2009 and has rapidly evolved to now be a leading global media resource. FashInvest’s daily online news posts, reports, and exclusive interviews on the emerging fashion tech and fashion arenas have established it as a news authority for a growing number of fashion-tech and fashion entrepreneurs seeking the latest news on who has received funding, who is providing the funding, and what strategies are attracting financing.

“FashInvest has tapped into the vital intersection of finance and fashion—a business that has been built over the last decade on discovering and developing emerging fashion and retail brands and their access to capital markets.  Fairchild Media has consistently been the leader in coverage of well-established global fashion brands, and with the acquisition of FashInvest the opportunity to deepen our coverage of emerging companies, start-ups, and the financial institutions (VC’s, Private Equity, etc.) that are shaping the future fashion industry is dramatically enhanced,” said PMC Chairman and CEO Jay Penske.

USA, New York, NY, Wilmington, DE

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Condé Nast invests $20m in farfetch

March 7, 2013 — Fusion DigiNet

cni-logoCondé Nast International, a division of Advance Publications, has led a $20m investment in farfetch, the e-commerce marketplace for independent fashion boutiques. Existing investors Advent Venture Partners, Index Ventures and e.ventures also participated in the fundraising.

“This investment will fuel our entry to new markets while assisting our growth in existing ones. Our goal to build a unique curated farfetchglobal franchise in online designer fashion is brought several steps closer through the exciting involvement of Condé Nast,” commented Jonathan Newhouse, Chairman and Chief Executive of Condé Nast International.

James Bilefield, President of Condé Nast International Digital, adds “As the leading multimedia publisher connecting people to the fashion brands they love, this investment underlines our commitment to extend the scope of our activities and back great entrepreneurs. It follows the recent news of our involvement with the e-commerce businesses Monoqi and Renesim in Germany, plus the investment activity of our parent company Advance Publications in the USA.” As part of the investment, James Bilefield will join the farfetch board.

farfetch launched in 2008 and brings together luxury brands from over 250 of the world’s most respected independent fashion boutiques for men and women. With 82,000 highly curated products from over 2,000 of the world’s best brands, farfetch currently has 150,000 customers in over 140 countries. farfetch is backed by Advent Venture Partners, Index Ventures, e.ventures and Condé Nast International.

UK, London &

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UBM Asia to acquire NOVOMANIA in China

March 7, 2013 — Fusion DigiNet

novomania2UBM Asia has signed a binding agreement with NOVO Mania Limited, the organiser of NOVOMANIA, to acquire the annual urban fashion event in Shanghai. Upon completion, UBM will own 60% of a joint venture company, with NOVO Mania Limited, called UBM Novomania, to organise NOVOMANIA from 2013 onwards.

NOVOMANIA was launched in 2010 as an annual urban fashion event by the NOVO group of companies, a retailing and fashion conglomerate based in Hong Kong that operates and distributes over 50 international brands and has stores across 45 cities in China, and one of its partners, Focus Workshop, an innovative full service agency in China with expertise in luxury brands in beauty and wellness, fashion, real estate and FMCG. By bringing together designers, brands, buyers, distributors, retailers, franchisees, department stores, mall operators, real estate developers and the media, it creates a platform for introducing retail concepts to international brands which are seeking to enter the China market and for providing new business opportunities for domestic brands.

Showcasing the latest trends in major areas of urban fashion such as Denim&Urban, Sports&Street, Shoes&Accessories, Fashion&Chic and Contemporary&Premium, NOVOMANIA held at the Shanghai World Expo Exhibition & Convention Centre inMarch 2012 occupied 25,000 gross sqm of exhibition space and welcomed 117 exhibitors from 13 countries and over 13,000 visitors. This year, Novomania will be held from 17 – 19 July at Shanghai Mart.

Jime Essink , President & Chief Executive Officer of UBM Asia said, “China is already the second-largest apparel market in the world and is set to surpass the US to become the world’s largest market in a few years. We are very pleased to partner with NOVO Mania Limited in the development and growth of this cutting edge fashion event targeted at the very rapidly-growing urban youth segment of the market. This joint venture continues our strategy of focusing on sectors and markets with the most exciting growth potential.”

Mr Guilherme Faria , General Manager of NOVOMANIA, together with his team, will be incorporated into the UBM China (Shanghai) office, reporting to the board of UBM Novomania.

Hong Kong & China, Shanghai & UK, London

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Advanstar Global acquires ENK International

December 7, 2012 — Fusion DigiNet

Advanstar Global LLC, an events and information services company that also owns Advanstar Communications, has acquired ENK International LLC. ENK arranges fashion events that features Fashion Coterie, Intermezzo, and Accessory Circuit in New York, Las Vegas, Europe and Asia. ENK and Advanstar Communications will be operated separately.

The acquisition is a major addition to Advanstar Global’s global portfolio, which already contains MAGIC, PROJECT, FN Platform, Licensing International, other tradeshows, conferences, and events. Advanstar Global’s financial sponsors include Anchorage Capital Group LLC, Ares Management LLC, and Veronis Suhler Stevenson.

Advanstar Global’s CEO, Joe Loggia, stated, “Having ENK, MAGIC and PROJECT within the same family of companies provides the fashion industry a choice of intimate and customized environments that satisfy their market needs. This allows us to be more responsive to our customers as we work to coordinate dates and venues, which makes the process more valuable for exhibitors and retailers. Moreover, Advanstar Global has made significant investments in new technology that will enable our company to further drive value, service and solutions across the entire fashion marketplace.”

USA, Wilmington, DE

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