Longtime editor-in-chief of W magazine, Stefano Tonchi, is quietly scouting for “a team of investors from the international fashion and luxury world” in an attempt to buy the mag from Condé Nast, a source tells us.
He’s looking for “people who he really trusts.”
We hear he’s also “been approached” by potential investors.
Meanwhile, another source tells us Tonchi’s been “very involved in the sale process and [is] meeting with potential buyers, starting next week.”
The impending sale will probably happen in November, says the source, with new leadership expected to take over some time around March.
Despite the changes, we hear there’s no lack of energy at W’s HQ.
Cate Blanchett will guest-edit its September issue and star on multiple versions of the cover, we’re told.
Staff have also been working on editorial all the way through to their January Golden Globes issue, and are still planning to have their annual Globes bash, plus events during December’s Art Basel.