Prestige Puts Its Money on the Ad-Reading Über-Rich
It might seem crazy in these recessionary times to launch a magazine predicated on luxury ad spending. But that’s what Singapore-based CR Media did last week with the launch of Prestige New York, a glossy, oversized, controlled-circulation book, delivered free to 50,000 super-rich New York area homes. The launch issue carries 43 ad pages, including Bell & Ross and Harry Winston. Prestige plans to publish seven issues in 2009 and 10 in 2010.
The company is also planning later this year (or in early 2010) to launch U.S.
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