The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — The Newhouse family, which owns Vogue publisher Condé Nast, is investing $200 million in a new fund that will target innovative media and technology companies, according to people familiar with the matter.
Advance Vixeid Partners, which was spun-off in 2015 by the Newhouse family’s media holding company, Advance Publications Inc., is set to close its first independent pool by June, with half the capital for its $400 million target coming from its former parent, said the people who asked not to be identified because the information is private.
AVP, which holds stakes in online real estate broker Compass and luxury retailer Moda Operandi Inc., aims to invest in new media technologies and businesses which have the potential to disrupt existing business models, the people said.
Advance Publications owns interests in newspapers, cable systems and magazines including Vanity Fair and the New Yorker. The group’s chairman, Samuel “Si” Newhouse, 88, has a net worth of $10.3 billion, according to data compiled by Bloomberg.
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Representatives for Advance Publications and AVP didn’t respond to an e-mail request for comment.
By Kiel Porter; editors: Elizabeth Fournier and Paula Schaap.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.