Mannequin, investor and entrepreneur Karlie Kloss is buying trend publication i-D Journal from Vice Media Group, which just lately restructured its enterprise after rising from chapter.
Monetary phrases of the deal weren’t disclosed. As a part of the sale, Kloss will lead the British journal as CEO, with i-D prime editor Alastair McKimm to increase his position and assume the position of chief artistic officer and world editor-in-chief. The sale was dealt with by Kloss’s newly shaped firm, Bedford Media, the place she serves as chairwoman.
Kloss “has a deep ardour for know-how and the intersection of trend, media and tradition and the way we will create interconnectivity between the digital and bodily worlds,” in keeping with an announcement from her rep.
In 2020, Kloss was a part of an investor group that acquired W Journal, the high-end trend publication previously owned by Condé Nast. The journal has a cope with digital-media firm Bustle Digital Group to function as a companion “supporting know-how, gross sales and operations” for the model.
Vice Media had acquired i-D Journal in 2012. The corporate entered into the deal to promote i-D to Kloss “as a part of our ongoing technique to streamline and focus VMG on our core enterprise,” Vice Media Group co-CEOs co-CEOs Bruce Dixon and Hozefa Lokhandwala wrote in a memo to staffers Tuesday.
Kloss “has a deep ardour for know-how and the intersection of trend, media and tradition on a world foundation, and we consider that the model is in nice palms to proceed to construct on its vital place within the trend world and to proceed the expansion trajectory we see for the enterprise,” Dixon and Lokhandwala wrote.
Vice Media will proceed to cowl trend, magnificence and “private fashion” throughout different properties, the co-CEOs mentioned, together with by Vice.com and Refinery29, which the corporate purchased in 2019.
Final week, Vice Media introduced one other spherical of layoffs, after a number of Vice Information exhibits did not get renewed, and consolidated its 5 working divisions down to 2. Earlier this yr, the corporate filed for Chapter 11 chapter safety and in July closed a $350 million sale to its lenders.
Kloss, in a put up Tuesday on Instagram, provided a wink (and nod) in regards to the deal, sharing the picture of i-D Journal’s spring 2013 subject for which she graced the duvet: