'Lucky' Magazine is Shuttering (Report)

Lucky Mag IG - S 2015

Lucky Mag IG - S 2015

After a rough year, 'Lucky' magazine is reportedly folding and significantly reducing the size of its ecommerce venture, Lucky Shops.

Lucky magazine isn't having the best of luck at the moment.

Just weeks after the 15-year-old mag announced its plans to publish quarterly (beginning in September with a "premium" issue), The Daily Front Row reports that The Lucky Group — comprised of the glossy and its ecommerce site, Lucky Shops — is letting go of its entire print staff with only two weeks' severance.

Read more It's Official: Eva Chen Is Leaving 'Lucky' Magazine

Despite earlier reports that all of The Lucky Group is shuttering, Racked reports that the Lucky Shops ecommerce platform will continue to operate albeit on a much smaller scale. The company, which was formed in 2014 as a joint venture between Conde Nast and BeachMint, was supposedly unable to secure investments required to move forward with the new quarterly print edition. 

This year has not been kind to Lucky, which abruptly canceled its Lucky FABB conference in May just days after editor in chief Eva Chen announced her resignation. The following weeks saw the departure of The Lucky Group president Gillian Gorman Round as well as the layoffs of 14 employees.