Penske Media has acquired trade publication Sourcing Journal to beef up the fashion and retail business coverage of its subsidiary Fairchild Media, which it bought in 2014 from Condé Nast, and includes the WWD, FN, M and Beauty Inc. brands.
“The future of fashion will rely much more on material sciences, sourcing and technology. So to bring into the fold the leading media publication in that space opens important opportunities for our WWD and FN brands, as well as for our readers and partners,” stated Penske Media chairman and CEO Jay Penske.
While WWD already covers fashion, retail and beauty, the acquisition of Sourcing Journal, which was completed in October, will enable the company “to provide more in-depth, up-to-the minute and insightful coverage of these vital areas for our global readers,” stated James Fallon, editorial director of WWD.
Sourcing Journal launched in 2009 by cofounders Edward Hertzman and Munir Mashooqullah to cover the sourcing and manufacturing industries of retail and textiles. It focuses on investigative journalism, breaking news, global market analysis and white papers. Based in New York, Sourcing Journal has more than 70,000 readers.
Under Penske Media’s ownership, Sourcing Journal will remain an independent publication. Sourcing Journal will also leverage the infrastructure of Fairchild Live events business to expand its own global offerings.
Penske Media also owns Variety Inc., Deadline Hollywood, Robb Report, TVLine.com, Hollywood Life and IndieWire, as well as global events and data services.