Populism may be the theme of the current presidential election, but luxury advertisers are still salivating over a certain segment—let’s call them the 1 percent—of American consumers.
Populism may be the theme of the current presidential election, but luxury advertisers are still salivating over a certain segment—let’s call them the 1 percent—of American consumers. To help top-tier brands hone in on their prey, Niche Media founder Jason Binn, flash sale site Gilt Groupe, and James Cohen of Hudson News and duty-free titan Dufry have teamed up to launch Du Jour, a new digital and print publication for the richest of the rich.
How rich, you ask? The magazine says that it will target readers who meet certain criteria such as having a net worth of $5 million, spending more than $10,000 in online high-end purchases annually or owning homes with an average value of more than $1.5 million. Du Jour will focus on readers in major metropolitan areas (New York, Los Angeles, Miami, etc.) and in the places they vacation (Aspen, the Hamptons, Sun Valley). Content-wise, editorial will run the luxury gamut from food and fashion to politics and philanthropy.
What sets this luxury title apart is its existing access to Gilt’s roster of wealthy subscribers, Binn told The New York Times. And Binn already knows a thing or two about Gilt customers’ buying power—in August 2010, Binn was named chief advisor to Gilt’s CEO and founder Kevin Ryan. Several months later, however, Binn was shifted from CEO to chairman at Niche, as luxury advertisers continued to cut spending. Since then, Binn has focused on other ventures, including his role at Gilt, and partnerships with Colin Cowie Enterprises and Getty Images.
Du Jour’s quarterly print magazine, with full-page ads running $32,000, is expected to roll out this fall to about 235,000 subscribers, in addition to 15,000 newsstand copies (expect to see some major promotion at Hudson News kiosks). A digital version of the magazine will be released once a month to around 3 million opt-in customers, with content available on Du Jour and Gilt’s Websites, as well as on tablets and smartphones. The digital platform packs an added punch by letting customers click to purchase featured products and services directly through the magazine.