NEW YORK (AP) — Lucky magazine is no longer part of the Conde Nast media company.
Conde Nast has spun the shopping and fashion magazine off to join the e-commerce platform BeachMint in a new entity called The Lucky Group.
Eva Chen, Lucky's editor-in-chief, will serve as The Lucky Group's chief creative officer, and BeachMint's co-founder Josh Berman will be the new entity's CEO, Conde Nast announced earlier this week.
Lucky's editorial and business teams are expected to join the new company.
Anna Wintour, Conde Nast's artistic director, will serve as an adviser to The Lucky Group.
The Lucky Group will not move with Conde Nast when it opens its new offices at the World Trade Center complex later this year.
Lucky has struggled to sell advertising, with its pages down by about a third in the past year.
The magazine will continue to be published in print, digital and mobile formats, but its collaboration with BeachMint will offer readers a new e-commerce experience by early 2015.