Yahoo News Karlie Kloss Buys i-D Magazine from Vice Media
Model and entrepreneur Karlie Kloss has acquired British bimonthly i-D magazine from Vice Media Group.
As part of the acquisition, Kloss will become chief executive of i-D, according to a Vice Media Group memo obtained by The Hollywood Reporter. The financial terms of the acquisition, which was conducted by Kloss and her company, Bedford Media, were not disclosed.
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Kloss also led a group of investors to acquire W magazine in 2020.
Vice Media Group, which also owns Vice.com, R29 and more, acquired i-D magazine, which covers fashion, art, music and culture, in 2012. The sale comes after the group seeks to “streamline” the business, after being acquired out of bankruptcy by Fortress Investment Group.
The full memo from Vice chiefs Bruce Dixon and Hozefa Lokhandwala is below:
Team,
Today, as part of our ongoing strategy to streamline and focus VMG on our core business, we have reached an agreement to sell i-D magazine to Karlie Kloss and her newly formed company Bedford Media.
Karlie has deep roots in the fashion industry and has established herself as an entrepreneur who has a vision for the future of i-D and the industry at large, and as part of the sale, she will become i-D’s CEO.
i-D has been part of the VMG portfolio since 2012, expanding our reach into digital fashion and carving out a wider role for us as a leading source of fashion inspiration and influence.
Following the sale of i-D, VMG is well positioned to continue to cover fashion, beauty and personal style across our other channels, including through VICE.com, R29 and our other brands and we expect to continue to be a strong partner for creative talent and brands in the fashion, beauty and personal style space.
We’re proud of the amazing work the i-D team has accomplished as part of VMG. Over the last few years it’s expanded its digital offering to become a leading video and social-driven platform, documenting fashion, music and contemporary culture and building relationships with leading talent from around the globe.
We’ve gotten to know Karlie and her team through this process. She has a deep passion for technology and the intersection of fashion, media, and culture on a global basis, and we believe that the brand is in great hands to continue to build on its important position in the fashion world and to continue the growth trajectory we see for the business.
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