The e-commerce platform BeachMint will take over all operations of Lucky Magazine. The merger is part of a joint venture between BeachMint and publisher Conde Nast.
The Lucky Group, as it's being called, will be led by BeachMint's Josh Berman, who will act as CEO, Lucky's editor-in-chief Eva Chen, and Senior VP Gillian Gorman Round, reported TechCrunch.
The partnership will help BeachMint pull in shoppers from the magazine's prime demographic: professional women in their mid- to late- 30s. It also expected to help build the magazine's increasing focus on digital platforms..
"BeachMint has spent the last few years developing a technology platform, growing digital audiences and scaling our commerce operations," Berman told TechCrunch. "Lucky magazine is about shopping. It references hundreds of brands in every issue and is already responsible for thousands of purchases every day."
The magazine has been working on launching an e-commerce platform for 18 months in hopes of ending a sales slump. However, the magazine reports that digital sales are up 33 percent and digital revenue is up 47 percent.
Conde Nast is one of many publishers looking to monetize content in the retail space. Hearst's Seventeen Magazine recently launched an exclusive branded collection in 450 Sears (NASDAQ:SHLD) stores.
"Lucky is a magazine you talk back to. There's already that engagement and conversation. It'll now feel more like a little bit both commerce and a little bit magazine," Chen told TechCrunch.
-See this TechCrunch article
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