Gilt Groupe has changed the way people shop. Their innovative business model of flash sale for designer goods started a trend of sorts with many similar players crowding the web today. This is perhaps one of the reasons why it is diversifying rapidly and now is venturing into the publishing biz. They are bringing out Du Jour this fall. It is a print and digital magazine targeting affluent consumers. The content of the magazine will be dominated by entertainment. Jason Binn who is the CEO and publisher has long experience of running luxury magazines like Gotham, Los Angeles Confidential, Ocean Drive and Hamptons. He is bringing on board InStyle senior editor Nicole Vecchiarelli and Elle.com editorial director Keith Pollock. They will both be co-editors-in-chief of Du Jour. And seeing their background, it is evident that film, TV and music will drive the content strategy of the new magazine which is expected to serve as a platform to promote products that the group sells. Publicists and brand reps are sure to love it.
Nicole Vecchiarelli to Shape Content
Celebrities make the best brand ambassadors. They have great influence on consumers and that’s what Binn and his team wants to leverage. The Du Jour team is operating out of the company’s Park Avenue offices in New York. Vecchiarelli, while talking to Variety confirmed the approach being adopted by the new publication. She was confident that she would be able to deliver the celebrities in a unique way for Du Jour as it is targeted at an audience which is used to the best of best. The target audiences of Du Jour are those who earn more than $250,000 a year and have a net worth of around $5 million and normally spend about $100,000 a year on luxury. Du Jour hopes to reach 3 million people who have a similar profile. The initial print order would be 250,000 copies quarterly and would be made available through subscription. However about 15,000 copies will be released through news stands in key U.S. markets that include New York, Los Angeles, Chicago, Miami, Dallas, Las Vegas and San Francisco. The online access to Du Jour will be given through Gilt.com and content will also be posted on social media sites.
Luxury Magazines on an Upswing
The luxury magazines have witnessed an increase in advertising revenue. American Express Publishing’s new Departures magazine, aimed at Platinum Card holders saw a 46% increase in ad revenue in the quarter that ended Dec. 31. Full page ads in Du Jour will cost $32,000 as it hopes to cash in on the upswing. There are other luxury lifestyle publications coming into the market Bloomberg starting Bloomberg Pursuits to compete with Amex and Conde Nast’s Style.com. This initiative by Gilt Groupe is partially aimed at shoring up its revenues as it is fighting a tough battle to arrest the fall in sales on its site. The group had to let go 100 staffers in order to cut costs. However Vecchiarelli who is known for her innovative ways in the publishing industry is confident that she will be able to revolutionize the way we look at editorial. The audience for magazine is already there and powerfully engaged with the brand the Du Jour team is hopeful that they will be able to shape the content in a new way and deliver to an eager and engaged readership.