News in that the most famous pure fashion men’s publication is to close. The Italian publication, L’Uomo Vogue’s last issue will appear in December. With a readership said to be 300,000, which is large within the men’s market, it seems a strange move by publisher Condé Nast, if this is the true figure.
Left - David Beckham shot by David Bailey. The Italian men's fashion magazine, L'Uomo Vogue is to close
I think what it signifies is not the change in consumers, but advertisers. This is all about advertisers changing their spend and while consumers have been disappearing in numbers since the beginning of the 21st century, the brands still felt confident about advertising in magazines and keeping them profitable. Until now.
L’Uomo Vogue’s closure is a reflection of the downsizing of Milan Men’s Fashion Week. What used to be busy with big name ‘superbrands' has seen many downsize to presentations or merge their men’s shows with their women’s, and thus showing later in the calendar. You’re not going to spend lots of money promoting something that is not a priority or is contracting.
These were the brands big enough to buy the back covers or a couple of pages just inside the front, and this was where the profit is or was for publishers.
Many luxury fashion companies, especially the Italian family run ones, have been slow to get with digital due to the fact many of those in charge didn’t understand it or want to understand it. They’re idea of luxury wasn’t the internet and they like too much control.
As budgets have been cut and also the delayed investment in digital sapping funds, L’Uomo Vogue is an example of the swingeing cuts the men’s industry has been facing. Italy is a powerhouse of Italian brands and even they are ‘adjusting’ to the future. Armani has reduced the number of labels, Dolce & Gabbana shelved D&G, even the recent big money maker, Gucci, now show their men’s in with their women’s show.
Also said to be closing is the independently published, Jocks & Nerds. The UK quarterly title, established in 2010, known for it’s workwear and vintage aesthetic, is sending its final issue to bed. There’s never been a good time to be an independent publisher, but now is particularly tough. I think fashion moving towards something more sporty and less ‘heritage’ may have also been a factor.
In other news, Time Inc., publisher of Wallpaper*, is moving to E14. Yes, me neither! I had to Google it, even though I’ve lived in London my whole life. It’s Mudchute, yes, Mudchute. There’s nothing wrong with Mudchute on the Isle of Dogs, but talking to a PR the other day, they said their courier doesn't even go that far. Times are tough, but are they really that tough?
It feels like the change in media is speeding up and the majority of magazines and publishers seem to be down to the bare bones. There isn’t much left to cut back on, but it’s a surprise a title like L’Uomo Vogue has folded before others. Watch this space.
I have a theory about magazines.
I’m not anti-magazines or printed media just because I’m a blogger, but, the fact is people are buying fewer magazines and newspapers and the younger generation hasn’t grown up with the habit of paying money for magazines or printed media.
Left ChicGeek Records - You spin me write round, baby, write round...
Many people, especially in the big cities, are happy with the free printed copies they are given. Publications have gone free to increase circulation and this impresses the advertisers, but anybody who has seen the piles of uncollected Evening Standards at the end of the day will realise that many of these numbers may not ring true.
Even some of the free ones, in a crowded market, are closing - see the men’s free magazine, Coach, which announced it was going online only last week.
People only have so much time and inclination to read something instead of draining their phone battery getting the same information the day before. What will happen to the numbers of copies picked up with increased wifi and internet speeds on public transport, I wonder?
Anyway, records sales hit £2.5m last week compared with £2.1m for digital, with the surge partly attributed to Christmas gift buying. Vinyl has also experienced eight consecutive years of growth, despite almost dying out around 2006.
There are many reasons for this. People are streaming music and no longer downloading and the cost of vinyl is much higher than digital music. Also, the older generation who haven’t got used to storing music on computers and downloading, and have a high disposal income, have rediscovered their love of vinyl and have started buying again and not just old, classic albums. Comparing monetary sales skews the results. Obviously sales of digital music is higher in volume than vinyl, but, it’s still increasing and shows the power in nostalgia.
It’s not all hipsters.
Anyway, back to my magazine theory. More glossy magazines are going fold and disappear and I think this is going to only speed up. Many publishers are merging editorial and advertorial teams to reduce costs, but they've been doing this for years and many are leaner than a butcher’s pencil with no fat left to trim. They've been too focused on the bottom line and not on delivering what people want. It's like they don't know what people want, anymore, and have become too advertiser facing.
The industry will hit its own 2006, like vinyl, and then they’ll be a niche revival of magazines and printed media featuring great photography and things you need to touch, feel and see in print. Much like vinyl, selling for £25 a time, we’ll be prepared to pay the going rate for a magazine, which is much more than what we’re paying for it now. What do you say?