LOS ANGELES, CA May 23, 2014
NYLON Magazine, which includes NYLON, NYLON Guys Magazine, NYLON TV, NYLON’s international editions and its popular branded digital/social media properties has been sold to an affiliate of Los Angeles-based investor Marc Luzzatto through his Los Angeles-based private equity firm, Diversis Capital LLC. Mr. Luzzatto has acquired a controlling stake in NYLON and is working with a new management team to merge NYLON with FashionIndie.com, the leading fashion, beauty and lifestyle influencer network. The combined media company will provide marketers with a significant, extended reach to young adults through an integrated multi-media platform that blends the best of print, digital and video content.
Serial Internet entrepreneur Joe Mohen will serve as the CEO and MIN Magazine Hall of Fame inaugural member and publishing executive Dana Fields will serve as Executive Vice President, Chief Revenue Officer and Publisher. Ms. Fields revolutionized the fashion-advertising category, among others, as President of FHM magazine and as Group Publisher at Wenner Media, which includes Rolling Stone, Us Weekly and Men’s Journal magazines. FashionIndie founders Daniel Saynt and Beca Alexander will retain their roles as Creative Director and Editor-In-Chief of FashionIndie.com respectively, and will also take on new roles at NYLON.
“It is very exciting to be growing this modern media company and one whose delivery of the top trendsetters in the millennial market is unsurpassed. We see this purchase as taking NYLON, a profitable, highly visible property, and merging it with FashionIndie.com to create a unique brand in the media community for marketers,” said Ms. Fields. “Our goal is to have all the touch points of NYLON presenting advertisers the opportunity to interact with and engage style conscious 20-something ‘It Girls’ through all the media platforms they are consuming- social, web, mobile, video and print.”
“The NYLON opportunity presented itself and we quickly realized what potential exists in the business. We see international licensing, growth of e-commerce and the expansion of events as huge upside opportunities, but the biggest opportunity is in dramatically expanding the digital platform of the company,” said Mr. Luzzatto. “We’re very pleased with the people of NYLON. They deliver an outstanding product with passion and enthusiasm, and we believe that our management team will help guide them to greater heights and achievement.”
Britt Terrell, Managing Director of Backbone Capital Advisors, LLC, served as an advisor for the buyer of NYLON and was responsible for bringing the operating team, led by Joe Mohen and Diversis Capital, together in this successful transaction.
With a median age of 25, according to Beta, NYLON’s readers are almost ten years younger than the median age at larger titles in NYLON’s competitive set such as GLAMOUR, Marie Claire and other titles in the category. Additionally, NYLON’s audience is 80 percent single and has an average income of $68,000, which translates into readers without issues such as mortgages or children, allowing them to use their discretionary income on themselves. As the population ages and other titles in the category are aging with it, NYLON is skewing younger, with readers who are digitally focused and edgy.
Founded in 1999, NYLON is a leading fashion media title with print, digital, social, and events assets, with headquarters in New York. NYLON Magazine for young women, and NYLON Guys Magazines and websites are published in the United States, Japan, Korea, Thailand, Singapore, and Indonesia. NYLON is programmed for real world fashion, for young millennial, focused on the 20-something audience. For more information, visit www.nylonmag.com.
FashionIndie, is the premiere fashion, beauty and luxury lifestyle influencer network that has a reach of 8 million monthly readers across a collective of over 200 influencers and develops and supports the success of award-winning campaigns by managing influencer relations, content strategy, and social media growth for the world’s most influential brands including Club Monaco, BeachMint, Ted Baker, Abercrombie, Francis Ford Coppola Vineyards, and Express. For more information, visit www.fashionindie.com.
About Marc Luzzatto
Marc Luzzatto is a Los Angeles-based investor. His investments have included interests in a variety of industries including technology, real estate, entertainment, hospitality, and consumer products. He is Chairman of several companies, including among others, Bayside Communities, LLC, an affordable housing company based in Walnut Creek California, Diversis Capital, LLC and The Luzzatto Company, Inc., both private equity firms. Prior to forming The Luzzatto Company in 2007, Marc served as President and COO of The Welk Group, Inc. and several of its affiliates for 12 years.
About Diversis Capital LLC
Founded in 2013, Diversis Capital, LLC is a North American private equity firm with a focus on acquiring companies that require both sharp financial acumen and operational expertise to reach success. The tight-knit team of professionals has experience working on complex transactions and leveraging deep hands-on operational expertise to help companies and their management teams achieve full potential. Founded by Managing Directors Ron Nayot, Kevin Ma and the firm’s Chairman Marc Luzzatto, Diversis is currently in full acquisition mode with a goal of executing several transactions annually.
About Backbone Capital Advisors, LLC
Backbone Capital Advisors, LLC is a full-service professional financing arranger, providing both traditional and non-traditional capital sourcing, with complete execution, for middle market businesses that require debt financing and other capital solutions. Backbone Capital supports Private Equity funds, independent sponsors, direct operating companies, professionals and boutique investment bankers. To learn more, visit www.backbonecap.com