The Lucky Group has let go of its nine remaining editorial employees, according to multiple former employees at the Group.
The employees were notified on Thursday after an expected sale failed to go through. Two sources said the company "is over," but Josh Berman, CEO of The Lucky Group, wrote in an e-mail on Thursday that "Your info is not correct as the Lucky Group continues to operate." He has not returned multiple calls and e-mails for comment since. A spokesperson for investor and former parent company Condé Nast declined to comment.
One source declined to offer details of her dismissal, saying she hoped to continue freelancing for the company.
Lucky's demise has been slow, painful and very public. When Eva Chen was named editor-in-chief of Lucky in June 2013, the shopping-focused magazine was already battling a sharp decline in ad pages, a trend that Chen — even with a glossy makeover aided by Anna Wintour — could not reverse. Last August, Lucky was spun off from Condé Nast into a joint venture with e-commerce company Beachmint, which was reportedly faring much worse. In February, the newly formed company launched a new enterprise, Lucky Shops, a website that housed both Lucky's online editorial content and a small shop of apparel and accessories goods selected by editors. But things only got worse, and Lucky announced in June that it was ceasing print operations.
Is the company officially done? We don't yet know. But I expect we'll know very soon.