Conde Nast International is launching a new business magazine aimed at professionals in the fashion and luxury industries as it looks for new revenue sources amid a tough climate for publishers.
Vogue Business will be online-only and will launch as a bi-weekly newsletter, with a view to switching to a paid model in the future.
The new publication comes after eight months of testing and development and will be independent from other Conde Nast publications, the company said.
“In a consolidating media landscape, the launch of a new global title is a rare thing,” said Wolfgang Blau, president of Conde Nast International.
Conde Nast said the title will cover 29 markets across the globe and look to deliver data-led journalism in creative visual formats.
Vogue Business will be led by chief editor Lauren Indvik and will be based at Conde Nast’s London headquarters.
“Our journalism is designed for maximum impact and accessibility, making it easy to understand key ideas at a glance, and to enable fashion leaders to make the decisions that will grow and future-proof their businesses and careers,” said Indvik.
The announcement comes amid a torrid period for digital publishers as they look to diversify revenue streams amid growing competition for advertising dollars.
Last week Conde Nast said it will put all its online titles behind a paywall in the US by the end of the year as it looks to transform its business model.
But Blau said the company has no plans to put up paywalls in other markets. “The world is too diverse to roll out paywalls globally,” he told the BBC’s Today programme.
The publisher, which also owns GQ, the New Yorker and Vanity Fair, fell to a £13m loss in the UK in 2017.
The launch comes after digital publishers Buzzfeed and Verizon announced a raft of job cuts in a bid to cut costs in a challenging media landscape.