Things have not been going great over at Lucky magazine lately. After being passed off to BeachMint to form its own entity, The Lucky Group, which launched its shopping site LuckyShops.com earlier this year, the publication experienced a round of layoffs in February. In late April, editor-in-chief Eva Chen announced that she was stepping down from her position at the publication and shortly after, Lucky cancelled its LuckyFABB conference and announced that it would be transitioning into a quarterly magazine.
All that repositioning seems to have been for nothing. According to the The Daily, the Lucky Group is shuttering completely and will be firing all its staff. Lucky staffers are expected to get two weeks’ severance pay. Though Lucky magazine has been floundering for a while, it is still very sad to see the entire publication shutter. There was hope that creating a more interactive shopping experience might save it, but it seems like the end has truly come for Lucky.
We reached out to Lucky for comment and will update once we hear a response.
UPDATE: According to Racked, the magazine is shuttering but Lucky is still trying to keep its e-commerce site operational. Apparently, an investment deal to keep the magazine afloat fell through, causing the print version to shut down completely.
[via The Daily]