(NEW YORK) As first reported by Forbes‘ Jeff Bercovici, IMG Fashion announced today the sale of The Daily Group to Daily Front Row Inc., a company controlled by The Daily‘s founder and editor-in-chief Brandusa Niro. As part of the sale, The Daily will retain its status as Magazine of Choice for Mercedes-Benz Fashion Week; financial terms of the deal were not disclosed.
Since its launch in 2003, The Daily has become the fashion insiders’ preferred read, first at fashion week in New York, and then all year round through its irresistibly newsy website, DailyFrontRow.com. Combining intelligent reporting with trendsetting visuals, the magazine’s groundbreaking style and original voice have inspired and enchanted the fashion world. “The Daily is so compelling, you cannot help but want to pick it up or log on every day!” said CFDA president Diane von Furstenberg on the occasion of The Daily‘s 5th anniversary in 2008. “It always amuses me to see the audience deliberate on their reading preferences as they take their seats at any given show: Blackberry or The Daily?” echoed Vogue legend Anna Wintour. “What do I love the most about Fashion Week? Reading The Daily,” declared Vanity Fair‘s one and only Graydon Carter shortly after The Daily‘s launch.
“This is a great moment for The Daily and our group of incredibly talented editors and executives who have worked so successfully by my side to build the fashion world’s most beloved insider publications and websites,” said Niro in a statement. “We are very grateful to IMG for giving us new wings as we fly into the consumer space with The Daily Chic Report, our glossy fashion insert in amNew York which brings The Daily‘s inimitable coverage to 160,000 New Yorkers every other week; as we take DailyFrontRow.com to a far greater audience of fashion lovers worldwide; as we launch The Daily at Milan’s Fashion Week this September; and as we continue our amazing ride as the magazine of choice of Mercedes-Benz Fashion Week and of fashion insiders everywhere. This February inside the Tents at Lincoln Center, prepare for your most riveting Dailies ever!”
“The Daily has always been a great part of the Mercedes-Benz Fashion Week experience,” said Peter Levy, SVP and managing director of IMG Fashion Worldwide. “We wish Brandusa great success in this new chapter of her business and look forward to a continued working relationship.”
The Daily is distributed every day during Fashion Weeks in New York and Miami, and beginning in September 2011, will also publish a much-anticipated bilingual edition in Milan. Both editorial and advertising teams, including the group’s SVP of publishing Lee Rosenbaum, have moved into the company’s new offices in Midtown Manhattan.
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